Saving Plan Checklist

Your Saving Plan

• Track your spending - divide your expenses into categories and figure out a total for each section.
• Create an annual budget.
• Include irregular expenses in your budget, such as dental appointments.
• Decide how much you can save.
• Have saving goals - short-term goals (can be reached within 1-3 years) as well as long-term goals.
• Figure out how long it will take you to reach each of your goals.
• For each goal, figure out how long you have to save for it, and your monthly target.
• For short-term goals, save your money in a low-risk savings.
• For long-term goals, consider securities such as stocks or mutual funds.
• Get professional advice on how to match your investment strategy to your goals.
• Set up automatic transfers to your savings account.
• Track your savings growth.