Financial Goals
Transcript: I can cut back on eating out more and try to work with what I have, I could resist temptation when it comes to unnecessary clothes or records, I could limit myself to only going out with my friend's one or two times a week, or I could set a limit for myself for when I go out. There are many possibilities. What Steps Are Required to Reach my Monthly Savings Goal? I wish to be able to say I have reached my financial goal by my mid twenties or early thirties. I think that will give me plenty of time to kick start schooling and work on the side and maybe initiate a home for myself if I spend responsibly. How Much Money Must I Save in Total? Working full time at a minimum wage job would get me roughly $1,960. Getting paid every two weeks would give me about $980. I would save every second paycheck, resulting in $1690 into my savings each month. 1 What 'Wants' Can I Cut Back On? How Much Money Would I Save Monthly? Common steps required to reach my goal would include cutting down on 'wants' and foccusing on 'needs' (which will be talked about more on another slide to come), and opening a separate bank account for my savings only so I will not be tempted to dip in and spend them too early. When Do I Wish to Complete my Goal? Financial Goals Avery Smith Current Financial Goals I personally do not have a set amount that I 'must' save, after all I am only sixteen and I haven't pondered over this all too much. But I do know that if I follow my 'every second paycheck' plan, that can get me close to $20,000 a year (and that's plenty for me). I do not have very many current financial goals besides the 'basics', i.e. I would eventually like to be able to rent a room by myself, pay a portion of my own schooling, be able to buy my own necessities, etc. I want to be able to live comfortably and not feel restricted by my budget. add logo here
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