In an article, I told you about the mistakes people make when saving, and I mentioned that one of them was not having specific savings goals.

Things we should all save for.

On this occasion, I want to tell you about ten savings goals to have them clear to start strengthening them each month. 

Objective # 1: Provisions

It refers to when I have an expense projected in the future, which is going to arrive, which is not negotiable and which at some point I will have to cover in its entirety.

This can be vehicle maintenance expenses, house taxes, payment of an annual policy, or whatever is according to your case.

Even the income statement, each year, one should wait for the moment when that full collection comes up, to see where I am going to pay it. 

Most likely, I naturally know when it will cost me or at least have an idea. 

And the idea with this provision savings objective is to divide that annual cost by twelve, and each month to place that twelfth of the total amount to be paid in a specific savings for that objective.

In this way, when the payment month arrives, you will have saved the total amount and you will not have to think about where to get the money to pay it, nor will you have to go into debt or fall short for that payment because in any case, it was something fixed that would arrive.

Objective # 2: Vacation

It would help if you did it. If what new happened to me happens to you, which I was practically never vacationing for many years, you eventually begin to feel a level of demotivation, discouragement of being working and working without rest.

There is no time when one can disconnect; And it is not necessary to plan a complete vacation, to an international resort, on Caribbean beaches, or anything like that … It is simply a time that allows you to disconnect from the routine. 

And how nice that you can treat yourself, occasionally and under a reasonable measure, to places where you can enjoy yourself. And for this, it is better if you save and consciously allocate a limit amount that you want to spend.

You have to be careful because the holidays are going to take advantage of us spending as much money as possible, and this is where making a budget has its usefulness.

Be that as it may, a vacation helps you mentally, distracting you and disconnecting from reality for a while. 

Having some fun and entertainment makes you feel like it’s worth working and complex every day, and definitely renewing all those energies and getting back to work a lot more focused.

Objective # 3: Health

Or in other words, things that are not covered by insurance.

Because definitely if the health of our country covered everything we might need, there would be no worries; but regardless of the country, there will always be things that we won’t have covered.

And sometimes at the emergency level, we have to make health expenses that we do not have planned.

Even countries like the new United States have a tax-free account for health expenses, where you can save some money and save the payment of taxes on that income that you allocate for that fund.

Regardless of that, you should be aware that you must have budgeted some money each year for health expenses that you do not have planned and that the insurance will cover you anyway. 

Objective # 4: The Emergency Fund

What would you do if you lost your job? If your business stops working or simply if your sources of income do not produce you a penny for several months?

This is where it is ideal to have an amount of money saved and available so that you can cover basic expenses for about six months. 

If possible, while you relocate and organize your entire financial situation.

Ideally, it will not be six months before you generate income again if you fall into an emergency hardship …

But what better way than to have savings that allow you to have the peace of mind of focusing on finding or generating that income and not be looking for the day-to-day, which will significantly distract you from the objective of improving your financial stability.

Objective # 5: Retirement OR Pension

How are you going to new ensure that your future is guaranteed financially?

Without depending on the government or the company for which you work.

Simply by saving yourself. 

Regardless of the mechanism, it is about you thinking ahead and organizing what you will do when you no longer have the energy to continue working.

Many people forget to think about it and grow old without guaranteeing a constant income.

If we focus on it, although it will not be easy, it is most likely that we are much closer to a pension that is worth it; that is, we manage it through traditional mechanisms or creative ideas.

Like even generating your income with real estate, businesses, or anything else. 

Objective # 6: Housing Expenses

If you already have a home, the safest thing is to have fixed annual expenses, such as taxes, repairs, maintenance that may arise, any remodelling that you can think of to do, or anything else you should save.

And if you don’t have a home, you should have down payment savings to eventually buy one. 

So if you have not started with this, the idea is that you start thinking about it as soon as possible so that the years do not go by without even having your own home insured.

Perhaps the monthly payments can be equated with monthly rent, but the down payment is always the factor differentiating people who can own a house from those who cannot. 

Objective # 7: Financial Goals

Here we talk about what you want to achieve economically.

This is going to change from person to person.

Some of those financial goals will require money, and therefore you should start saving for those things to come true, regardless of what they are. 

It is now your task to begin to consciously think and analyze what you want to achieve in six months from now, two years from now, five years from now, ten years, twenty years.

Write down all those financial goals and think about which ones I need money for, how much money and when you should have it, and what to include in your savings goals.

And indeed, for those financial goals, you will not only need savings or money as such; Also probably knowledge, studies, contacts, or any number of things outside the capital that you should start planning, apart from saving.

Objective # 8: Opportunity Fund

This is somewhat similar to # 7, although perhaps a little different,

For example, by 2020 had saved money in case an opportunity arose and saw that multiple businesses could be created and be successful; They took advantage of these moments of juncture so that the crisis was in their favour and not against them.

So, it is about keeping money saved, especially with the objective that if any business opportunity works, we already have the initial capital to take that opportunity and not miss it.

Here, my main recommendation is that you be very careful with the business opportunities that come your way, with multi-levels or similar things, who want to promise you heaven in the blink of an eye …

The idea is to analyze well before putting your money from the opportunity fund and study the integrity and reliability of what you would plan to invest in.

Objective # 9: Valuable Experiences

We are not necessarily talking about vacations, or fun, or whatever …

We are talking about investing not in things or material objects but experiences.

In things that you can live, experience, enjoy in a certain way; or that provide you with learning, that provides you with knowledge, or a different perspective on life. 

Whatever it is that you live and is something valuable to you.

Many times, it is a better gift for another person to give him an experience than something material.

The valuable experiences will vary from person to person, so you should think about what experiences can be helpful to you, that can change your life, to the point that you remember them or transform you even 20 years later. Of having lived them, because indeed those experiences are the ones that will make your life worthwhile.

Many of them require money, and therefore it is good to save for that. 

Objective # 10: Tastes and Luxuries

Here the key is: “With measure.”

Under a reasonable level, so that it is not that everything we earn we spend, that every eight days we are going out to a fancy restaurant, that we are buying jewellery or that we are paying this and that. So you choose a percentage of your income and allocate it to this, enjoy it without remorse and be part of your lifestyle, obviously, according to your income.

And if your income right now is not giving you enough, we are talking about this being one of the things you should save for. 

Remember that this doesn’t throw you off balance in all other things.

Now when we talk about ten things you should save for, we don’t necessarily think it’s ten at the same time, all of them. 

Because surely each one will get very little money, in proportion to your entire income.

Ideally, it would be best if you analyzed which ones are a priority and which ones are important to you and considered which ones you want to allocate a portion of your income to now to make it happen and that your money has better use in your life.

Wealth, abundance, and financial happiness are not just making money; it knows how to use it.

That is a life in which you are not enslaved working for money. Still, money works for you, and you can generate passive income. So even while you are not working, either resting or travelling, you can continue receiving payment and reach the financial life you genuinely want to deserve if you get sick. 

A life in which money is a source of well-being for you and not a source of stress or worry. This is not something that is achieved overnight, and it is not a click opportunity or anything like that; you don’t have to invite two friends to pay or anything like that. 

It is knowledge and financial education, effort, and something that requires time, and it is our mission as such in training money and abundance; I would love for you to have all these tools, and I would love to have you in training. 

So I’m going to leave you a link in the description so you can take a look right now and make the decision, really to educate yourself financially to take those finances to the next level.

Thank you very much for seeing this video and seeing you next time—a hug.

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