Savings and financial goals

Most everything in life requires you to plan out a financial goal. Whether it be that you’ve bought your first new home, a brand new car or you’re sending your children to college, it takes long-term commitment to pay these things off. More importantly, it’s easy to see how your idea to start a savings account can get lost is the shuffle of everything else. Believe it or not, there are ways you can get over the hump and start to build your savings in 2016! In part one of this series, we’ll talk about a few things you can do to get started.

1. Make A List Of Expenses: With checkbooks being nearly outdated, fewer people are keeping a logged record of daily spendings. Don’t be afraid to grab a spiral notebook and keep track of all your spending. If you’d rather do everything in a digital format, there are plenty of budgeting apps available to help you keep track of your expenses. This is important, because you have to know how much money is going out of your accounts so that you can plan a budget, possibly cut back on unnecessary expenses and set aside a portion of your income each month for savings.

2. Decide The Amount You’re Planning: Knowing how much you want to save will help you have something to look forward to and be more likely to keep you on track. You could set yourself a deadline to have a specific amount accrued so that you have something to aim for and if you can’t stick to the goal then there is no harm, but making the plan in the first place is a great achievement!

Crafting a blueprint for achieving your goals doesn’t have to be difficult. Simply identify your financial goals and give yourself some incentive to stick to the plan! The team here at The Scott Godwin Agency is excited to start our own financial savings plans in 2016. Are you?

If you’d like a little more information, please feel free to stick around for part two of this series.