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Is having a savings goal help you save more?

Ramona

Administrator
Staff member
Messages
73
#2
It definitely does.

About 11 years ago I finally decided to get a car. I had no savings, but, since I had a goal, I started saving money towards it. In half an year I had enough money to buy a second hand one, but decided to use it as an upfront payment for a new one (and paid it in 4 years).

Anyway .. having a savings goal really helped me.
 

Ash

New member
Messages
40
#3
It definitely can help you out a lot. My current situation is quite similar to Romona actually, I turned 19 a few months ago and I decided that it was time for me to start saving up for my first car. My parents would be helping out with a large amount of the cost but I need to save up for the car, the insurance etc. so I've set up a goal for me to reach. And it does help out a lot because of the fact that when you go to spend some of the money you have, you do think twice and it has helped me slow down on those impulse purchases :D