Saving for Short-Term Goals

Saving doesn’t have to mean “spend no money and do nothing fun!” Saving is all about setting aside money for things you actually care about, and keeping it simple. 

 
What Counts as a Short-Term Goal? 

Anything you want to pay for in the next few months to a year: 

• Trips ️  
• Concerts or events   
• Moving costs  
• Emergency cushion  
• Something you’ve been wanting to buy  

If you know it’s coming, it’s worth planning for. 

How to Plan for a Short Term Goal? 

1. Start With the Number: Pick one goal and break it down –
   1. Total cost: $600  
   2. Timeline: 3 months  
   3. Monthly savings: $200   
2. Make It Automatic (If You Can): The easiest way to save is to not think about it every time.
   1. Set up automatic transfers  
   2. Move money right after you get paid  
   3. Keep savings in a separate account  
3. Keep It Realistic: A plan that’s too aggressive won’t last.
   1. Start small if needed  
   2. Adjust as you go  
   3. Missing a week/month doesn’t mean you failed  
   4. Consistency > perfection 
   5. Create SMART goals! 
4. Where to Find the Money: You don’t need a full budget overhaul – just small shifts:
   1. Spend a little less in one category  
   2. Put aside part of each paycheck  
   3. Use extra income (refunds, gifts, side work)  

Resources: 

• Setting SMART Goals 
• How to Assign a Savings Goal and Timeline 
• Factors to Consider When Saving for Goals 

Saving isn’t about being perfect! Make sure you are setting realistic, attainable goals and stay consistent.