It’s easy to decide that you want to start saving money. However, the real trick is continuing to prioritize saving. Temptations may arise. You may get tired of putting tomorrow’s goals before what you want today. Saving money for a long term goal is the same as staying motivated on a diet. You will never get there unless you genuinely want it for an inspiring reason.
It’s important that you not only see exactly what you want but exactly why you want it. Have you always wanted a big house because you’re tired of comparing yourself to your friends? Do you want a new car so you can comfortably take the kids to school without worrying about it breaking down? Do you want plastic surgery to make yourself feel more confident? Take a good look at what your motivating factor is behind your goal. Once you’ve got all those things in place, follow these steps:
Determine How Much It Will Cost
Most people are more motivated to keep going if they can see an end in sight. Without a measurable and tangible goal, you’ll eventually give up. Crunch numbers and add up exactly what you’ll need.
Once you set a dollar amount, you can start to calculate how much you’ll have to save for how long. Knowing that saving a specific amount every month for a year will get you to your finish line will keep you inspired to keep going. By seeing yourself moving closer and closer to your final goal, you’ll be that much more motivated to work even harder to get there.
In order to meet your savings goals, you should have a realistic budget set in place. Often people create a budget for themselves which is far too restricting. Unexpected expenses and bills can come up out of nowhere. Therefore, it’s vital to always factor miscellaneous costs into your budget as well as your bills.
By setting realistic goals for yourself, you’ll be less likely to give up early in the game. Also, don’t forget to give yourself a little wiggle room to enjoy life a bit. Like we said, saving money is like a diet. Allow yourself a slice of cake every now and then!
Reward Yourself For Your Progress
Not only children thrive off of recognition for their hard work. One of the best ways to make saving money fun is by rewarding yourself each time that you reach a new goal.
Find any particular reward system that works for you. Create a sticker chart. Buy yourself a new pair of shoes. Eat a lobster dinner. Do whatever it takes to pat yourself on the back!