‘What does goal setting have to do with my money?’

Yes, I heard you from here – you want to know what goal setting has to do with your money. 

So now that you’ve set your goals, you may be able to spot a common theme. Your goals will either be focused on making more money or needing to spend money.

Here’s a little secret – making the money is the easier part, keeping it and doing meaningful things with it is the harder part.

Have another look at your goals, and for those that will cost you some money, put the cost next to them. This will remind you that you need to save some money for your goals.

Here’s an example:

You want to start a course that costs £3,000, within the next 6 months.

This means you will need to save £500 a month to reach this goal.

That being said, it does not matter how big, small, expensive or inexpensive the goal is – planning is key!

To make your life easier, save money for each goal in a different place. This can be different savings accounts, savings pots (some bank accounts have these), or even the old-fashioned money tin. This will help you see where you’re at and if you need to get your act together at any point. 

If you don’t have much to save once all of your life purchases have been completed, don’t be too hard on yourself. Research has found that 21% of UK adults have zero savings, so even if you saved £10, you will not be part of that statistic. Still can’t get on the road to Saves-ville? (A new place I made up where everybody saves like a boss!) Maybe you need to reassess your budget.

I can hear a few ‘I don’t have a budget’ whispers – don’t fear, Nikkita is here to help you out. Over the weeks I’ll be dropping more gems that will help you out. Or, if you’ve tried to get a budget together and it hasn’t exactly gone to plan head over to the ‘Contact’ page and drop me a message!