Personal Finance Tips For You! Part 2

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4. IDENTITY YOUR SAVING GOAL

One of the best ways to save money is to set a goal. Start by thinking of what you might want to save for —anything from a down payment for a car to a vacation in Livingstone —then figure out how long it might take you to save for it. Also you can set a goal based on how much you’d like your life long savings to grow by.

5 .DECIDE ON YOUR PRIORITIES

After your expenses and income, your goals are likely to have the biggest impact on how you save money. Be sure to remember long-term goals—it’s important that planning for retirement doesn’t take a back seat to shorter-term needs. Prioritizing goals can give you a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one.

6. WATCH YOUR SAVINGS GROW

Check your progress every month. Not only will this help you stick to your personal savings plan but it also helps you identify and fix problems quickly. These simple ways to save money may even inspire you to save more and hit your goals faster.