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Saving for a Goal

Get a stronger grasp on the differences so you can learn how to set a savings goal that works for you.


Video Transcript

Chapter 2: Goals vs. Aspirations 

This is it. We're talking about the motivation and specifics of budgeting. Aspirations are the very reasons why we build our budgets. And, they're accompanied by well-defined savings goals.

Watch the video to get a stronger grasp on the differences so you can learn how to set a savings goal that works for you.

Know Your Aspirations

Motivation only works when it's your own. And, that's what figuring out your aspirations helps you build. Common aspirations we've heard are: 

Set Your Goals

The key to goal setting is to be specific. That means giving each one of your goals a set dollar amount and a deadline. For example, think about how much you'll save in a year from now for a down payment for your next car.

Budgeting Tip: Share your goals with someone you know and trust as a way to stay motivated.

Write It Down

Putting your aspirations and goals on paper matters. Rely on the budgeting worksheet for an example of how you can write out your goals.

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Also Important

Reaching Your Financial Goals

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Those goals don't have to be lofty or complicated. Keep them simple and attainable is the message here.

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How to Start a Budget

We’ll help you figure out how to put your money to work for you.

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Examine how you’re spending money and compare it to your goals to help meet your aspiration.