Author: Wendy Ng

Are you undermining your short term money goals?

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Good intentions are like ice cream on a summer’s day. Immediately satisfying and providing initial relief, but hardly nourishing or long lasting.

When we set short term savings goals, we’re usually excited about the end state – the holiday we want to book, the new car we want to buy, or the peace of mind we’ll feel when we have a healthy rainy day fund.

The reason short term money goals regularly get left by the wayside is that we struggle to put plans in place to bring our goal into fruition. Here’s How to stop undermining your short term savings goals.

Time frame

Many times, our initial excitement at setting financial goals mean we lack patience – we want it now. The first thing you need to do is examine your current budget, so you know just how much you can save each pay-period. Once you have this amount, you’ll be able to use a Savings Goal Calculator to plot your journey to reach your short term goal.

Making changes

So, after you have your initial time frame, you can take a look at your current financial habits to see if there are things you can change to shorten your savings goal timeframe.

Take an honest look at your budget, specifically at whether you can reduce your living costs, attempt to reign in your spending, or manage your money differently to minimise the effect of fees. The more money you can redirect towards savings, while ensuring you continue to meet your commitments, the sooner you’ll be on holiday, behind the wheel, or sitting on a nest egg or housing deposit. :)

Right account

Saving is tough enough – it’s nice to know that you’ve got an account designed to reward your good habits, right? If you haven’t already, open an account that’s on your side. Our Life Saver pays bonus interest when your balance grows each month, and you can even link up a transactional account for fee-free banking.

Stay motivated

One of the big stumbling blocks for savers is the feeling of being disconnected from their money and losing motivation over time. To combat this, use online tools to check in with your savings progress, and use our mobile banking app to stay connected with your money. View your balance with one swipe using ‘quick balance’, and consider re-naming your savings account something like ‘Fiji fund’ so each time you see it, you’re able to focus on your goal.


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