Millennial Money Makeover by Conor Richardson

Author:Conor Richardson
Language: eng
Format: epub
ISBN: 9781632658630
Publisher: Red Wheel Weiser

4. Track Your Progress

Metrics matter, so it is important to monitor your performance. While you don't need to track your progress daily, it is essential to keep a regular pulse. After all, there is a reason that you are working hard to save your money. A fun and effective way to track your goals is to name your savings accounts. For example:

Down payment on our first house

Honeymoon fund to Thailand

Wedding and bachelorette parties

Annual ski trip to Vail

Research conducted by Dr. Brad Klontz of Creighton University found that naming your savings accounts could dramatically increase the odds of meeting your savings goals.18 Have some fun during the naming process and make the names memorable. By tracking your progress and assigning purposeful names, your intentions will eventually turn into reality.

Everyone wants more savings. Even affluent people worry about not saving enough. You can mitigate this worry by identifying your savings goals, remembering to pay yourself first, and automating that decision. This series of decisions will catapult you toward success. Finally, don't forget to track your progress and have some fun along the way.

In the following table, find your savings goal amount in the left column and the corresonding savings needed to reach your goal based on the time frame you select in the top row.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.