savings goals

How to stick to your savings goals?

The barbarous expenditure calculation at the end of the month isn’t a very pleasing experience of anyone. The youth of the present generation often finds it tempting to spend money on unnecessary expenses. They make promises to control such spending, but the cycle repeats every month, and thus they hardly end up having some savings in their accounts. A PPF is something which can turn out to be helpful.

 Here are some ways to stick to your saving goals, and if there aren’t any, you must pull up your socks to have some in your routine.

  1. Knowing why you want to save: If you have some prepared goals in your mind, then it would be easy to save some money. For instance, you can make a wish list of things or dreams that you want to fulfil. It could be buying a car or a camera or going on a trip etc. Having those goals in mind also helps to invest your funds in an investment scheme. If an individual has a long-term goal, then investment in a plan like PPF ( Public Provident Fund) would be a good idea. People who wish to save funds for their retirement can also invest in PPF.
  1. Leaving a portion of funds for savings: If you plan to save your funds after spending your money, then you would never be able to save a penny. Instead, try the opposite way! Leave aside some portion of funds for the desired goal and then spend the remaining money. Various automated saving options are available, which you can think of and can help you to get unexpected returns. Also, ensure that this money is not utilised for any other expense unless an emergency knocks your door.
  1. Preparing a budget: A financial blueprint seems like a boring idea, but if you plan well in advance about the expenses and investments, you can undoubtedly save some savings for future use. Don’t be very harsh on yourself. You can begin by 80:20 ratio, meaning giving 20 percent of your earnings for savings and rest could be used for spending on various expenses. This ratio could, however, be increased as you gear up for more savings.
  1. Repay all the credits: If you have taken a home loan, personal loan or any other loan; the sole priority should be to repay all the credit on time. If you fail to make payments on time, then you would end up paying more interest, and once this interest gets accumulated, it becomes difficult to repay the dues and can be a massive burden on your pockets. Also, if you have a credit card never overspend over the credit limit as you would have to pay the penalty on credit card dues.
  1. Don’t take pressure: Finally, it is crucial to optimize your savings. The first and foremost thing one needs to understand is that one earns money to spend. If you are not able to fulfill your urges and live a comfortable life, there is no point in making money. Thus, you should be able to spend money without taking too much pressure about saving it for future use. You can start by avoiding the expenses which are unnecessary and then proceed to increase the portion of funds for savings.


As you understand the need for savings and how you can stick to your savings goals, you could invest some of your savings in an investment plan. These investment plans can be chosen based on your financial goals and can help you to get good returns on funds lying idle in your savings account.

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