Where to Save Your MoneyĪ savings tracker is just a means of letting you see your progress towards your savings goal, but the actual funds still need to be kept somewhere. With a little creativity and some determination, you can turn almost any hobby into a money-making venture. Sites like Facebook and Etsy have made it easy to connect and sell to people both local and thousands of miles away. Here are a few ideas for how to generate some extra cash:Īlso, don’t be afraid to think outside the box. If things are still tight, you may need to find some ways to earn extra money. You can get a clearer idea of how much money you really need to cover the essentials by creating a bare-bones budget.Ī bare-bones budget will help you clarify your needs from your wants so you can make a more informed decision about the expenses you have. If things seem tight, it may be a sign that you’re overspending. Start by budgeting for your savings goals first and then paying your obligations. Typically when we sit down to budget we think of what bills and expenses are coming up that need to be paid and then put whatever is left over toward our savings goals. You may have heard the phrase, “Pay yourself first.” ![]() Savings trackers are great for visualizing and achieving your financial goals, but you still have to find the money to save if they’re going to work.Ī lack of funding preventing you from coloring in your tracker can be demotivating, so it’s important to incorporate your savings into your budget. That doesn’t mean you’ll always opt for a PB&J over a Big Mac, but at least the decision is intentional. When you frame a decision as a choice between an established priority and a spontaneous splurge, you’re able to make a more informed decision. This way when we’re tempted to order pizza or grab lunch out, we can be reminded of our bigger goal. Since it’s a family goal, this keeps it front and center for the whole family. This helped me see it anytime I was sitting down to budget so I knew I needed to prioritize those savings.įor our Hogwarts tracker, we have it posted on our homeschool whiteboard. While a savings tracker, in general, will help you hit your targets, keeping it someplace where you see it is the key to hitting them faster.įor my Christmas money goal tracker, I posted it on the wall in my office, directly in front of me. This savings tracker is mapping our savings goal journey to the Wizarding World of Harry Potter.įor every $60 we save, we color in a block. You can see where we took our goal ($6000) and divided it by the number of spaces (100) to get the amount each block represents ($60). We’re using this Savings Seeker chart (from DebtFreeCharts) for our trip to The Wizarding World of Harry Potter. Some trackers, specifically debt payoff and long-term savings goals, may not have dates associated with them. That means for each week my goal was to save $50. You can see in my Christmas savings tracker image below that I set a savings goal of $600 over a 12-week span. This way each colored-in segment corresponds to a specific amount saved. Usually, you’ll start by dividing up your coloring spaces by the total amount you want to save. There are different types of savings trackers, each with different methods of filling in your progress. Once you know what you’re saving for, how much you need, and when you need it by, you’re ready to start tracking. So you’re convinced you need to start tracking your savings, but how do you go about actually using or creating a savings tracker?įirst, you need to decide on a few things: The visual reminder of your priorities and the steps you’ve taken to achieve them helps keep you focused and motivated. ![]() Not only do they help you clarify and visualize your goals, but by allowing you to visualize your progress, you’re conditioning yourself to succeed. Savings trackers are a great way to reach your financial goals. Why You Should Use Savings Trackers to Reach Your Financial Goals Regardless of what you’re saving for, you can find or create a savings tracker to help you reach your goal. ![]() There are also challenge-based money goal trackers for things like a 52-week savings challenge or for paying off credit card debt. Others are more customizable with room for you to specify not only your goals, but the length of time you want to take to reach it. Some are specific to your goal, like a printable Christmas or Disney savings tracker. Typically savings trackers are printable designs with sections you can color in to show your progress. A savings tracker is a visual representation of your goal and your progress towards reaching it.
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