Personal Saving Plan
Personal Saving Plan Oftentimes financial experts encourage people to pay themselves first to build savings. This means that you set aside money for a rainy day before paying your other expenses. This simple piece of advice can help you build a financial cushion but following through takes effort and planning. If you're ready to start saving more, developing a personal savings plan can give you the focus that you need to reach your goals. Steps: 1. Determine what it is you want to achieve. Do you want to save for a vacation, set aside money to purchase a home or add to your retirement nest egg? Creating a list of specific short and long-term goals can help you form the blueprint for your savings plan. 2 Create a budget to determine how much money you have to put toward savings each month. Make a list of all the money you have coming in each month from your job, any investments you own, alimony, child support or any other source of income. Next, make a list of all the e