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Step 3
Figure out how much you’ll have to save per week, per month, or per paycheck to attain each of your savings goals. Take each thing you want to save for and figure out how much you need to start saving now. For most savings goals, it’s best to save the same amount each period. For example, if you want to put a $20,000 down payment on a home in 36 months (three years), you’ll need to save about $550 per month every month. But if your paychecks amount to $1000, it might not be a realistic goal, so adjust your time-frame until you come up with an approachable amount.
Step 2
Establish a time-frame. For example: "I want to be able to buy a house two years from today." Set a particular date for accomplishing shorter-term goals, and make sure the goal is attainable within that time period. If it’s not attainable, you’ll just get discouraged.
Step 1
Set savings goals. For short-term goals, this is easy. If you want to buy a video game, find out how much it costs; if you want to buy a house, determine how much of a down payment you’ll need. For long-term goals, such as retirement, you’ll need to do a lot more planning (figuring out how much money you’ll need to live comfortably after you stop working), and you’ll also need to figure out how investments will help you achieve FUNN.
- Kill your debt first. Simply calculating how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to free up money. Once the money is freed from debt payment, it can easily be re-purposed to savings
Shop sales and freeze. Plan your meals based on sale items in the store ad. If checken is discounted for the week, make a large batch of your favorite poultry dish and freeze the leftovers in portionready servings.
Buy normal quantities. When a product is on sale as"buy 4 for 1" you don't have to purchase four ot them to get the sale price. Buy only as many as you'll eat before the product goes to waste.
Make snack packs. Avoid vending machinerobbery; ites van cost triple their grocery store equivalent. Buy and package healthy portions o snack mixes, fruits, and vegetables for a lateafternoon pick-me-up. Save on break-room sodas by filling empty water boyttles with lemonade.
Buy produce in season. It's less expensive to purchase produce in its grrowing season, and it's highest nutrient content then too. Buy fresh fruit in summer, then freeze it to enjoy smoothies all year long.
Try store brands. Brand-name products can cost up to 50 percent more than some store brands. Be willing to try store brands on certain items, but consider the quality before you decide to switch.
