How To Find The Motivation To Stick To Your Savings Goal

Savings GoalSaving money can become discouraging when the goal seems too far out of reach, especially when you feel like you are depriving yourself of instant gratification for the sake of something we may not have for years to come. But if you want to avoid burnout while staying motivated during your savings journey, there are simple financial habits you can adopt in order to make the process easier.

Here’s what you can start doing today to make your savings dreams a reality:

Be Specific About What You Want To Save For

People often lose motivation for saving money when they don’t have something specific they’re striving toward. If you can be clear about what you want, how much it’ll all cost, and how long it’ll take you to get there—the more likely you’ll be to stick to saving. That way, you’ll always have a clear picture of what you’re working toward, and it’ll feel more tangible.

Find People To Keep You Accountable 

If you’ve set a specific goal for yourself, share it with people you care about who will hold you accountable for staying on track. Share with them what your plan is, how much you want to save, and the steps you’re going to take to get there. Check-in with them periodically about your progress. They may be the ones telling you to reconsider that lavish purchase at the mall so that you can save instead.

Motivation is a key part of our lives, guiding us to our goals and helping us grow. Take a closer look at motivation via the articles available here.

Set Short-Term Goals

Goals that are going to take a little longer to achieve need to be met with realistic timelines that are going to make them seem less intimidating. Try setting daily, weekly, or monthly goals to make it easier to track your progress and give you a greater sense of productivity when you accomplish them.

Celebrate Savings Milestones 

No matter how small the victory, it’s still a win. This doesn’t mean that if you save $50 dollars, you should take yourself out to dinner, but definitely give yourself a pat on the back to have the willpower to save up for what you want and stay true to your goals. Whether it’s the first $25 or the first $1,000, you’ve come a long way from not having anything at all. The closer you get to your ultimate savings goal, the more you deserve to celebrate along the way.

Keep Your Savings In A Separate Account

When you have your saving and checking accounts with the same bank, it can be tempting to transfer money out of your savings for little things here and there before you realize that a considerable chunk of your savings is gone. Instead, try having a separate account elsewhere for your savings, so it’s much more challenging to withdraw from. You can also even have various physical containers dedicated to different goals.

Create A Vision Board

Whether they’re virtual on sites like Pinterest or constructed out of cork boards and magazine cutouts, vision boards give a visual representation of what you’re working towards when setting out on a money-saving journey. Visual cues will keep your motivation levels high and be there to constantly remind you that something extraordinary is waiting for you on the other side of that journey.

Make Fun A Part Of Your Budget

If you feel deprived of fun while you’re trying to save money, you’re going to lose steam a lot faster than you think. Life is all about balance, and sometimes we need that instant gratification to get through the week. The next time you’re sitting down and creating a budget, factor in at least a little bit of room for the small joys in life—going out to dinner, the movies, shopping, etc.

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