Make Your Spending and Saving Plan

Barbara knew early on that she had to save, even when she made a pretty low hourly wage. Using a spending plan and working with a financial coach has enabled Barbara to meet her goals while still having money left over for her girls’ weekend. Sure, it takes discipline but the long-term payoff and sense of financial well-being is worth it. 

Challenge Yourself

• Set SMART goals for spending and saving. Make them attainable and make them based on your current salary and lifestyle. Use the SMART Goals Worksheet to get you started.
• Outline what you will do to reach your goals. Will you set up a spending plan, see a financial coach or use mobile apps to track and analyze your spending habits? 
• Monitor your progress. 
  • If you find that your goals are too easy to reach, you may need to set your bar higher. 
  • If your goals are too difficult to reach, you may need to scale back and focus on what is achievable. 
• Find a financial buddy. No matter what the goal, we all tend to do better when we are held accountable. Share your goals with a friend and set specific dates to check in with each other on progress.