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How to Save: How to prepare a savings plan?

2019-12-27 11:31:25

Our article today will take us through saving and how a savings plan can be developed

 The goal of saving is to spend wisely in such a way that we have control over our money, because these are simply goals that we must set for the purpose of moving forward, so we have left here 6 steps that can serve you about how to can develop a savings plan

 ü It is important to be clear about the goals of saving, then identify what is the purpose of it.

 ü Plan exactly how long we want to take so that our savings goal can be met.

 ü It is important to consider the cost of our savings goals.

 ü It should be noted that the calculation of savings can be based on a monthly basis, for this, it is only necessary to divide the total cost of saving in the time that we are willing to give the savings.

ü Make comparisons between the budget, because it is important to know if saving can be made possible now or simply if we require much more time to carry out our plan.

 ü Last but not least, it is necessary to give priority to our goal, since it has its purposes for which we have accomplished it.

 Here is an example where our purpose is evident and is to know how a savings plan can be developed, based on a family, where the children have started high school, and obviously the encyclopedias are already discontinued, as the goal of their parents will do everything possible to get them a computer, but this requires going through a saving process, and to carry out this it is necessary to follow these steps so that the parents' goal for their children can be met completeness

How can you develop a savings plan to buy this computer?

 ü The here is the acquisition of the computer.

 ü This is a goal that must be met in the short term because there is very little time left for the start of the school year.

 ü Having reviewed several web portals with the objective of determining what the appropriate computer could be for the children, and it has been concluded that its value is 1,000,000v pesos.

 ü To meet this goal, the family must save 167,000 pesos per month, since it only has 6 months so that it can be met within the stipulated period.

ü Here comes the budget analysis, because monthly the family is left with an additional 200,000 pesos, which are spent on things that are not very necessary and that are simply passing through, but this is where knowing how to save is important, and make education of their children is a priority, here they have decided to sacrifice the snacks to give a really feasible use to that extra money that comes home.

 ü Thinking that within the family budget one thinks about saving for beach vacations, however, the family places above priority the education of the children and for that reason it chooses to give an efficient use to this money, acquiring the computer, Well, this is an acquired commitment.

 We leave here an information about the exercise carried out by the family for the education of their children and why not the holidays, being the required saving of 292,000 pesos for each month.

  •  Savings Goal
  • Total cost
  • term
  • Monthly savings
  • priority
  • computer
  • 1,000,000
  • 6 months
  • $ 167,000
  • 1
  • holidays
  • 3,000,000
  • 24 months
  • $ 125,000
  • 2

With this we can conclude our guide on saving, because the objective here is to know how a savings plan can be developed.

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