- Prioritize your goals and estimate how much money and time you’ll need to achieve each one.
- Create a budget, cut unnecessary expenses, and save regularly.
- Track your progress—but be patient with yourself and flexible with your circumstances as they change.
Every stage of life has financial implications, from beginning a career to starting a family to planning for retirement. Your financial goals will change as you move from stage to stage, but they all come with the same fundamental considerations.
- What are your goals, in priority order?
- How much money will it take to reach each goal?
- How long will it take to save it?
Get in the habit of monitoring progress toward your goals and re-evaluating their priority on a regular basis.
Think Short Term and Long Term
You’ll likely have both short-term and long-term goals at every stage of your life. Short-term goals can usually be achieved in less than a year, while long-term goals can take several years.
Examples of short-term goals are:
- Paying off a credit card
- Starting an emergency fund
- Saving for a vacation
Examples of long-term goals are:
- Owning a home
- Funding a child’s education
- Starting your own business
- Retiring comfortably
- Leaving a financial legacy
Save Early and Often
- Set up automatic transfers from your checking account to your savings account on payday
- Create a monthly budget for essentials like housing, transportation, and groceries—United’s online budget calculator makes it quick and easy
- Reduce spending on things you may want, but don’t really need
- Use coupons and discounts for everyday purchases
- Pay your bills on time to avoid late fees
As you save toward your goals, be patient with yourself and flexible as your circumstances evolve. Life happens and things change. Our team is always here to help with sound advice and a full range of financial services.