4 Savings Strategies to Help You Reach Your Financial Goals - Austin Real Estate Agent

4 Savings Strategies to Help You Reach Your Financial Goals


No matter the reason you are saving, these strategies can help you reach your ultimate goal. 

What are you saving for? 

Determine your short-term, mid-term and long-term goals. For example: Emergency fund as a short-term goal; Down payment as a mid-term or long-term goal; Retirement as a long-term goal. 

Set a Timeline

How much will you save and when will  you need it? For example: By 2026 I will save $35,000 for a down payment on a home. 

Build Your Savings Plan

Calculate a monthly savings amount for each goal. Example: Saving $583 per month will get you $35,000 in five years. 

Create a Budget

Add the total monthly savings goals to your budget. If it’s more than you can afford, consider making a few cuts, adding extra income or choosing a higher-yield savings vehicle. 

Extra Pro Tip

Stock your emergency fund with at least three months’ expenses before ramping up on other savings goals! 

As always, if you need help locating a financial professional please let me know. I am happy to help! If you would like some tips on savings tools you can read more here

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