It’s important to set financial goals throughout the year to stay on track for saving the most money possible. You may want to save $10,000 by the end of the year, but putting too much pressure on yourself with a big long-term goal will cause you stress. One goal for this year could be to decrease the amount of debt you’ve accumulated. You don’t have to strive to pay it off entirely, but consolidating your credit card debt or look into your options for refinancing your student loans can make a big difference.
Setting small, achievable goals is a way to make strides financially without taking on too much. Start by making a goal for each month, and make sure they’re attainable. Along the way, you’ll see your savings account start to build up. Once you reach a goal you’ve set for yourself, you’ll be motivated to keep setting new ones for the following months. Sit down and make a list of what you spend each month and see what you can realistically part with. Whether you cut out subscriptions you don’t use often, brew your own coffee at home, or cut down on eating out, the small changes really do add up over time.