The first savings plan

Some folk might be stuck on first base and reading on might open up a new idea.  Making a small goal could be an easier way to get started than going straight for a goal that could be three of four years away.  Setting a huge goal from the outset might make you feel despondent when this is a totally new concept of managing your funds.  To gain confidence in the first instance start with, for example, try to get a saving of $500 into the bank account by allocating $20 a week; don't worry about what to spend it on as there will be heaps of things once you make a list.  Just prove to yourself that you have the discipline to carry out the task and reach the goal. For example:

• Aim to save $500 into the bank account.
• Set a bigger target, say, plan for a small holiday.
• If things are working well and goals being achieved maybe it would be time to save for a car with low mileage.
• Make a list of achievable goals, put them in order of priority and keep moving the target!
• Separate this money from other money, even if that means using a money box, separate bank account with a lock and key!

If you suddenly get tired of the discipline, and "let's party" keeps flashing into your mind it might be time to compromise for a while by just taking stock of where you have come from and maybe things like, is it time to apply for a different job, study or work extra hours to speed things along.  It is not time to give up!

Imagine the disappointment the following day if you "just blew" that first $500?