This year, UK Savings Week’s theme is Savings. They’re what you make of them. There are plenty of reasons to save, With the demands of day-to-day life, it can be easy to lose sight of your savings. Setting goals might help you to keep focused and on track!
For example, rather than just saving up for a holiday, you might be aiming to go to New York at Christmas or backpacking through Thailand! What destination do you have in mind? What activities do you want to do once you’re there? How much will you need to get there? Having a specific goal in mind might help you imagine the possibilities of savings and keep you motivated.
If you’ve now been bitten by the savings bug, you might start to imagine all the things you could aim towards! It might be a good idea to have multiple savings accounts, each for a different purpose: for example, one for a new house, one for an emergency fund, another for a holiday! This will allow you to have much more control over your savings.
Saving your money is an incredible achievement but sometimes it might feel as if you’re having to make sacrifices along the way. Therefore, it’s important to reward yourself as you go and celebrate the milestones, may be for your first £100 or your first £1,000! You might choose to take a moment to reflect on the effort it took to get to that point, or even get yourself a sweet treat to commemorate the occasion.
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