Make Your 2020 Savings Goals A Reality

The new year is full of hope and imagination for the future. It can be challenging for anyone to stick with these goals, especially financial ones. We’re happy to tell you that there is a way to make these goals a reality.
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Be Realistic

In order to make your goals a reality, you should set realistic goals. While a beach house in Maui would be an attractive prospect to most people, it’s not in the cards for everyone. Maybe a beach home will be there for you someday, but first you want to master the baby steps. Think about goals within the next 1-5 years that you can obtain and are motivating.

Prioritize Goals

Not all your goals are likely to be reached in 2020. Prioritize them in the order that you think they can be accomplished first and are the most important to you. If you want to take it a step further, give yourself a goal date as well that you would like to have them accomplished by. An example of this would be to set a goal of eliminating some of your subscriptions by the end of the first quarter.

Identify Roadblocks

Plan ahead for the things you think might go wrong or steer you off course. Is one of your savings goals to cut down on splurging but you find yourself repeatedly swinging through drive-thru and shopping online because you have a free shipping subscription? Decide on alternatives to keep you from continuing with these habits. If there are events or emotional triggers that compel you to spend money, figure out another way to get relief. Go for a run, read a book or invite a friend over for a movie night. 

Organize Accounts

Get familiar with the banking accounts available to you. Learn about how to use them to fit your lifestyle. Maybe you want each paycheck to have a percentage go directly into savings. Get this set up! Have you downloaded our mobile app yet? If not, consider doing so. It’s a great way to easily keep an eye on your everyday spending as well as check in on your growing savings account. 

Celebrate Progress

Goals aren’t achieved overnight. You’ll be working hard to achieve your goals and you might experience some burnout. To keep this from happening, celebrate the strides you are making towards reaching your goals by having a visual that can remind you of your “why” and modestly celebrate each achievement in a way that’s fun for your household. If you have kids, get them in on the fun and teach them why following through on commitments is important and why celebrating mile markers is also important!
For more ways to follow through on your savings goals, reach out to us today!