Creating Money Goals That Work | MoneyStrands

When planning what to do with your money long term, there are two clear schools of thought: should I go big and aim for the house, the car or the luxury vacation, or create small, more attainable goals?

There’s a lot to be said for the sense of achievement that comes with knocking things off your endless list: the further away reaching your goals seem, the less likely you are to stick to them. As long as the big purchase remains a distant dream, the motivation might wane before you’ve got anywhere near. By creating small milestones and ticking them off as you go, you’ll feel more like you’re getting somewhere faster. Reward yourself for your efforts – we’re simple creatures like that. The better it feels, the more you’ll be in it for the long haul.

No Pain, No Gain…


It would be true to say that the bigger the goal, the more satisfaction you’ll feel once you get there, however. Once you’re burning down the street in your new Tesla, you’ll feel a sense of immense happiness knowing you got there through sheer discipline and the odd sacrifice here and there. In an increasingly consumerist society, we are more and more used to having stuff right now, with very little effort involved, and have forgotten the excitement we felt as kids of saving our pocket money and the value of money that teaches us. With the click of a button, we can purchase our every whim and have it delivered within the hour. Where’s the joy in that?

… But Don’t Rest on Your Laurels


There is one goal however, that should be on everyone’s agenda: your retirement fund. That is one long-term objective that simply shouldn’t be left to chance, despite the end being far from in sight when you begin putting money away. The reality of this is that you’re looking at 30 or more years of saving, but here the difference is how good or bad your livelihood is when you reach your golden years. We’re not talking material belongings here, but how you’ll live out your life; in style or struggling to make ends meet.

Nowadays, you really don’t need to find the wherewithal to save all own your own. Now you can establish saving goals with digital apps that tell you how close you’re getting to your target, putting you on track for that all-important end result. You don’t even have to physically save yourself at all; just tell your bank how much should go towards your dream each month and you can pretty much forget about it entirely, checking in occasionally to see if it’s within your grasp yet. If you’re adding a little to your pension each month, rest assured it’s taken care of and you’ll be laughing all the way to 65.


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