Saving large amounts of money can be a challenge. The good news is you can chip away at saving to reach your financial goals. If you’re looking to put away major cash to get out of debt, save for emergency fund or a big purchase, it’s critical to create a clear savings goal. Here are some tips to set money aside to achieve your goal:
1. Get Clear and Break It Down
First, choose the dollar amount that you’re looking to save. Then select a realistic timeframe to achieve this goal and decide how much you can sock away each month. If the monthly amount still sounds too large, break it down into smaller amounts.You can do this by either extending the deadline to give yourself more time to save or convert the monthly amount into weekly amounts. If the weekly amount seems attainable, start putting that amount away weekly in a savings account. You can watch how this amount will add up over time.
