Times are difficult right now, aren't they? Everything keeps going up and up. It's been insane. $100 doesn't really stretch as far as it did in 2019. Plus packages have been shrinking and businesses are expecting to be paid the same amount as they were before 2019. Prices at the gas pump continue raising too.
Besides all that, life is still going on. You are still trying to save for your future—for things like vacations, your emergency fund, paying off debt, and saving for your kids' education. You still deserve to save for your life.
My husband, Johan, and I saved up for a bunch of financial goals using this amazing app called Qapital. We saved for a few larger goals like a trip to Germany and South Africa to visit friends and family. And also used the app to save for life-financial goals as well such as car upkeep and house projects..
Sign up for a 30-day free trial. Try it out here and use my code (tq6wg8bt) to get $25 after signing up.
1. Set Your Goals
First, you'll want to start by setting some savings goals. You'll want to make sure your goals are SMART.
Have you ever heard of SMART goals? SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Applying this concept to your savings can make your goals clearer and more attainable.
Specific: Define exactly what you’re saving for. Instead of saying “I want to save money,” say “I want to save $2,000 for a flight for my vacation to Hawaii.”
Measurable: Ensure your goal has a clear amount so you can track your progress. For example, “I will save $500 for an emergency fund and I'll track it by coloring in a tracker.”
Achievable: Set realistic goals that you can actually reach. Saving $10,000 in a month might be unrealistic, but saving $1,000-5,000 over six months might be more doable.
Relevant: Your goals should matter to you and fit within your financial plans. If paying off debt is your priority, saving for a new gadget might not be relevant.
Time-bound: Set a deadline for your goal. Having a timeframe will create a sense of urgency and help you stay focused. For instance, “I want to save $1,000 for holiday gifts by December 1st.”
Some of the goals in our Qapital account are:
Taxes
Gifts
Devin's spending
Johan's spending
Cars
House projects
Vacation fund
The sky is the limit though. You can save for many different kinds of goals. Just depends what ever you want to save for.
2. Choose Your Savings Rules
My husband and I use something called Qapital to save for our goals and plans. Inside Qapital you can use a variety of different savings rules. You set it up once and then it automatically stashes away money for you every few days, weekly, or monthly, depending on how often you set it. Here are some of my favorites:
Sign up for a 30-day free trial. Try it out here and use my code (tq6wg8bt) to get $25 after signing up.
Round-Up Rule: Every time you make a purchase, Qapital rounds up to the nearest dollar and saves the difference. So, if you buy a coffee for $2.75, it rounds up to $3.00 and saves that $0.25 for you.
Guilty Pleasure Rule: Every time you spend money on something you’re trying to cut back on (like eating out or shopping), you can set Qapital to save a specific amount. It’s like a fun way to keep yourself accountable!
52-Week Rule: This rule follows the popular 52-week savings challenge. I really love this one. You start by saving $1 the first week, $2 the second week, and so on until you’re saving $52 on the last week of the year. By the end of the year, you’ll have saved $1,378!
Spend Less Rule: Set a spending target for a specific category, and if you spend less than that, the difference is saved.
3. Watch Your Savings Grow & Enjoying the Rewards
One of the best parts of using Qapital is watching your savings grow over time. The app provides a visual representation of your progress towards each goal, making it incredibly satisfying to see how close you are to reaching them. Plus, you’ll receive regular updates and notifications to keep you motivated. I love this App.
Sign up for a 30-day free trial. Try it out here and use my code (tq6wg8bt) to get $25 after signing up.
Once you’ve reached your savings goal, it’s time to enjoy the fruits of your labor. Whether it’s taking that dream vacation, purchasing that special item you’ve been eyeing, or simply having peace of mind knowing you have an emergency fund, Qapital makes saving money a rewarding experience.
Start Saving For Your Goals & Dreams With Qapital
Saving money doesn’t have to be a chore. With Qapital, it can be fun, automated, and incredibly effective. So why wait? Download Qapital today and start turning your financial dreams into reality, one small step at a time.
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