Don’t be caught off guard with that emergency. Develop the best saving plan and have awesome money making the plan in place for tough times. Let this checklist help you to get started.
Your Saving Plan
- Track spending: create categories for expenses and sum up the total for every section.
- Have a budget: create a yearly budget.
- Irregular expenses have a section for these expenses such as dental appointments.
- Know what you can keep: decide how much you can save.
- Have goals: short-term goals (within 1-3 years)/ long-term goals.
- Timeline: figure out how long you may take to reach every goal.
- Plan: figure out how long you’ll save each goal/ set monthly target.
- Short-term goals: save money in low-risk savings.
- Long-term goals: consider securities e.g stocks or mutual funds.
- Advice: Get a professional to match your investment strategy/ goals.
- Have a set up: Put automatic transfers to your savings account.
- Keep Records: Track your savings growth.
Settle that rent or hospital bill the easy way. Don’t wait for your payday anymore. Use this checklist to get going.