Planning to save is a great start, but it’s important to know what our financial goals are. We need to be more like performance athletes and imagine ourselves in the place we want to be financially. Study after study has proved how thinking and goal setting has an impact on the outcome.
To really get a good start on saving for the future, most experts recommend that we have a five-year plan that includes specific money goals that should focus on things like having 6 months of emergency funds put aside or saving for a deposit on a home. Having a specific goal to work towards makes it easier for us to save.