Write 2 immediate goal for saving money
Answers
Answer:
Save for retirement. Living on Social Security alone is neither practical nor desirable, as Social Security income will provide just enough money to stay above the poverty level. ...Save an emergency fund. Everyone needs an emergency fund. ...Save for big purchases. ...Save for college.
Answer:
Goal #1: Save for a Down Payment on a Home
Our first short-term goal is to save for a down payment for a home. This is one several of our members mentioned. There are a lot of benefits to homeownership, but you can’t get to that point without a down payment.
A good rule of thumb is that you should plan to put 20% of the purchase price of your home as a down payment. This strategy will help you get a better interest rate on your mortgage. Here are some examples of how you can meet the short-term goal of saving for a down payment:
Pay down your high-interest debt
Trim your budget for discretionary spending
Goal #2: Save for a Family Vacation
Maybe 2021 is the year you want to take a once-in-a-lifetime family vacation. A lot of our members mentioned wanting to save for specific events, including vacations, destination weddings, and new vehicles. Here are some pointers to help you reach your family vacation savings goal:
1Review your budget and find areas where you can reduce your spending.
2Gamify your savings to get the kids involved by setting mini-savings goals and awarding prizes for the person who saves the most.