TOP 3 WAYS TO GET CLOSER TO YOUR SAVINGS GOAL!
Today's blog will include 3 major ways to get closer to your savings goal. I'm 4 months in and found the need to refocus and buckle up as the holidays are around the corner. I hope these tips help you refocus and get back into your savings grind!
1. Revisit Your Budget
- Look over your past statements and see where/what you are spending most on. Make adjustments where you need in order to get closer to your goal. This month I've spent a lot on self care due to COVID inflicted stresses. I'm glad I took the time to take care of myself but I enjoyed this month and need to buckle down on the self care spending in order to reach my year end goal. Which is super attainable for me, I'm not one to need excessive self care treatment (but we all have our months). Cut back where you can and be realistic and specific on how you will do it.2. Set a Limit
- After revisiting your budget, set clear spending limits. We all spend on things we do not need so work on reducing useless spending by only allowing yourself to spend a specific amount a month. I have a $50 month for eating out limit; some months that looks like one dinner date. Some months that looks like lunch once a week at work ($10 freshi meal a week). Restrict yourself! Sometimes I too desire a second date night but I have to stay focused and abide by the limits I've set.
3. Celebrate your wins
- Saving is sometimes stressful, annoying, boring and much more. But, you must make it fun in order to enjoy the moment, get closer to your goals and save for the future. A big tip is to celebrate your milestones. Every few months revisit how much you've saved. My One year savings goal between my partner and I was to save a minimum of $60,000 (which seemed huge). But over the months we've celebrated our milestones and are now realizing that we are over 75% to our goal with 6 months to go! We have now increased our savings goal and have celebrated how far we have come. When you celebrate the small wins you feel better and getting closer to your savings goal seems more exciting, quick and tangible.
Hope this helps,