What are the 3 primary savings goals.
Not Financial Advice: The 3 primary savings goals are:
- Pay Off Debt or Reach Your Savings Goal.
- Compile Your Legacy Drawer.
- Seek Wise Counsel.
These tips can also help:
Make mini-goals – Break your big goal down into 12 monthly goals. It will work better with your budget, and you’ll be able to gauge your progress. Make it automatic – Set up automatic withdrawals to pay your bills or transfer money to your savings account. It’s much less painful that writing the check yourself.
If you mess up, don’t give up! – Any progress toward your goal is counted as a success. Just get back on track as soon as you can. When you need to address more complicated financial tasks like taxes, investing or insurance, it’s wise to consult experts who can save you time and money with their expertise.
Just in: Only 55 percent of Americans have more in emergency savings than they have in credit card debt, according to a just released survey by Bankrate.com. Personal savings has been in a steady decline for the past two decades.