Phumzile Skosana thank you for inspiring this. She put it this way “spending without a goal is just delayed spending”. She said it right! You don’t just save money, you save money with the end in mind. There must be a goal you wanna achieve before you start saving.

A saving goal will assist you to have clarity and purpose. It will help you stay on course and avoid future wasteful spending.

If you are saving towards an emergency fund, you won’t have to spend the money until emergency arrived. Because the goal to save that money is for emergency.

If you are saving to acquire a cooking gas, you will stay with the goal and spend it on the cooking gas and not some random stuffs.

If your goal is to save for traveling, you don’t wanna spend such savings on another less important thing.

Before you begin, have a goal. Never and never have a lack of goals in every aspect of your life, and of course, your finance isn’t an exception.

Your savings goal should always be short term. Short term goals are those you intend to achieve within 12 month. If you are looking to achieve something in let say 5 years time, please invest periodically towards that and not save. Savings is meant for short term.

Having a saving goal will motivate you to stay committed with the plan to achieve it. Don’t just save, save with a goal.

You have any question relating to personal finance? Please drop it in our comment section.

@omotayooseni write in…


Please enter your comment!
Please enter your name here