25 Daily SMART Goals to Save Money and Achieve Financial Goals

By?Ruzanna Hernandez, Ed.D.

Questions

• Do you want some ideas on how you can save money each day?
• Is saving money difficult for you?
• Do you have big financial goals you want to achieve but need helpful ways to save money?

If you answered yes to any or all these questions, please keep reading!?You will get some ideas and resources to choose a few SMART goals that you can use to save money and meet your financial goals!

Introduction

Whether you want to achieve?short-term financial goals?or long-term financial goals, saving is key to success.?Short-term financial goals include saving money for a family getaway, paying off a small credit card fee, or making a minor repair to your home.?Short-term goals can be achieved in less than one year, whereas long-term goals take longer.?They usually require a more persistent and consistent plan of action to be achieved - more planning, organizing, and self-discipline.?Long-term goals?include:

• Getting rid of mortgage debt
• Paying off large credit card debt
• Planning for an extravagant wedding
• Large home improvement project
• Saving for retirement
• And more

Whether you have short-term or long-term financial goals, saving money each day must be a priority.?There are several reasons why we, as human beings, have a tough time saving money.?These reasons include:

• Not being taught how to save
• Spending excessively?
• Not having clear financial goals
• Being unorganized with personal finances
• Wanting immediate self-gratification
• And more

Data and Statistics

Here are some helpful data and statistics tied to personal finances that can help explain why it's so challenging to save money and achieve financial success.

• Middle-class life is now 30% more expensive than 20 years ago.
• Daily living expenses are the number 1 reason why people have a hard time saving.
• The lack of financial literacy cost Americans $415 billion in 2020.
• ?Around 40% of Americans have less than $300 in savings.
• 49% of Americans are saying affordable housing is a major issue where they live.
• From 2015 to 2029, Americans’ consumer credit card balances have nearly doubled, growing from $72 billion to $143 billion.
• As of January 2020, 41% of Americans would cover a $1,000 car repair or emergency room visit with savings.?
• 72% of Americans are not saving enough for retirement.
• 95% of millennials are saving less than the recommended amount.
• 53% of adults are financially anxious.

Despite big challenges and obstacles, it is still possible to save money each and every day.?The idea is to have a strong sense of self-discipline, focus on achieving goals, and persistence!?There are some things you can do, daily to successfully save money and meet your financial goals!

25 Daily SMART Goals to Save Money Each Day

Tracking your financial goals is necessary for your overall success. If you had some specific, actually achievable ways to save money, would you consider incorporating them into your daily life??Here are some ideas are written in terms of actual SMART goals.?Keep in mind that SMART goals are?Specific, Measurable, Attainable, Relevant, and Timely.?The idea is to?choose up to 5 of these goals, write them down, and keep them somewhere near your workstations so you can have them at the forefront of your thoughts.?Then, track your progress every week or every 2 weeks to make sure you are actually achieving them.

1.?Buy food from restaurants just once a week.?

You will amaze yourself at how much you can save each week just by taking snacks and meals to work from home, so you don't have to spend so much buying from restaurants and fast-food joints!?

2.?Drink water instead of soda or other drinks that cost more money.?

Soda and drinks cost money!?You can get water almost for free, primarily if you do not invest in water bottles.?Not only will drinking water instead of other drinks?save you money, but it will also be good for your overall health.

3.??Recycle your?cans and bottles.?

You can reuse bottles for refills or recycle them to get a few extra cents back.?Those savings will add up to tens, if not hundreds, of dollars at the end of the year.?

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