What is the best strategy for sticking on your saving goals.?

[Ratine]

Most people do plan saving a given amount of money in every pay day. However it's very difficult for most of them to fulfill that. What do you think?

Post automatically merged: May 26, 2024

I think that the naming of the saving goals for instance if you are saving for a motorbike name that account as the motorbike. With that you couldn't forget instead you would stick to that saving goal.

 

[nomad]

If you keep your expenses level low, and do not waste in luxury items, you can easily save money

 

[Springtime]

I put a portion of my income to a fixed deposit account every month. I have been doing this for many years. Due to compound interest, the amount of money in my fixed deposit account has increased a lot.

 

[Golden9]

You have to earn sufficient money to meet your basic needs, then have a definite plan for savings to make it work. If either one is absent, it's a lost cause.

 

[Stardom22]

I think one must learn on how to develop the saving habit be disciplined on that strategy.

 

[Shavkat]

Setting the saving goals is necessary for us to put in mind. But, we need to reach them will full confidence.

 

[Passiveearner]

Setting the saving goals is necessary for us to put in mind. But, we need to reach them will full confidence.

Not spending a lot of money could be one of the basic factors that may determine how much money you will be saving. However, the amount of money you earn could also play a huge role as well

 

[Shavkat]

Not spending a lot of money could be one of the basic factors that may determine how much money you will be saving. However, the amount of money you earn could also play a huge role as well

I do agree with you. Overspending can be controlled if stick to our budget plans. Unfortunately, some people cannot do it.

 

[You]

The best strategy for sticking to your saving goals is to make it automatic and visible. Set up a separate savings account and transfer funds regularly.

 

[eldavis]

I do not have a specific saving strategy, I simply save what I can whenever I can.

 

[Sawe]

Another great strategy to save with discipline is to automate your savings. That way, you won't end up spending it all without saving. Though you still need to control your urges so that you don't end up taking loans or withdrawing your savings prematurely.

 

[Etini Willie]

For me, when funds come in, I have it sent automatically to the savings account. That way, my savings happen even before I know it.

 

[Rubz]

I honestly do not have a favorite strategy for saving. I just set out some money for saving from my income.

 

[Ratine]

I think one should break down the saving goal to daily targets and make sure that they achieve it on daily basis.