saving for goals

Budgeting in action: open three instant savings accounts and name them after your goals

Now that you have a brand spanking new budget what better than to organize your savings by opening three new instant savings accounts to celebrate? This will allow you to keep track of how much you have saved up for each goal and means that you won’t ever get the purpose of which monies are for which goals confused and thereby leaving you short changed for completing a goal.

 

I personally have five savings accounts and they are named:

 

  1. Car Savings (for my insurance, MOT, services and maintenance)
  2. Peter Trip (money to see my boyfriend as we live long distance)
  3. America
  4. South Africa
  5. Website (stay tuned – they’ll be a big redesign next year!)

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Budgeting in action: list how in control of your goals you feel

To me budgeting is just another way to empower ourselves towards a secure future and the fulfillment of our life goals. So how in control of your goals – financial or otherwise – do you feel?

 

To help you answer this question, rate the following five statements, scoring yourself between 1-10, with 1 being completely true and 10 being completely false.

 

  1. I have not officially written down my financial and life goals
  2. I have not considered or researched how much my goals will cost to fulfill
  3. I have not broken down my goals into manageable and tangible steps
  4. I have not created deadlines for either my goals or there interim steps
  5. I have not allocated time towards working upon my goals on a daily or weekly basis

 

If you score more less than 25 you have little control over your goals and can greatly benefit from closely following this series and doing the practical exercises – as well as reading my article on goals titled ‘How to Turn Your Dreams into Reality’.

 

If you score more than 25 you have moderate control of your goals but you will gain a greater level of mastery by following this series – as well as reading my article on goals titled ‘How to Turn Your Dreams into Reality’.

 

If you score 35 or more you have a good level of control over your goals, though to acquire complete goal mastery you could fill out the exercises for the downloadable spreadsheet and read the posts – as well as reading my article on goals titled ‘How to Turn Your Dreams into Reality’.

 

Remember working towards financial freedom means turning your dreams into reality – what could be more worthwhile than that?

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