![]() ![]() Important Note: Make sure you spend in limit so that you have enough money to save for your goals. Saving Goal TrackerĪfter planning, earning and spending, its time to save. Usually, this does not happen, but just given for an example. It means that month you have spent more than your income. As you can see in the image, the first month shows the amount in red. It displays the difference between income and expenses. Lastly, a row displaying the difference amount is given. It includes grocery, fuel, utility bills, telephone, EMI’s, credit card payments, etc. You have to record each expense made by you during the month. This helps you to keep an eye on your expenses and further helps you to curb the unnecessary expenses. The expense register records your monthly expenses of each month. In the end, the monthly totals and line total are given for your ready reference. Insert or change the heads according to your needs. Insert every amount month-wise from Jan to Dec. In this section, insert the income from all sources such as salary, external projects, interest income, rent, etc. You need to only enter the monthly amount and it will automatically multiply it with 12 for getting the yearly amount. There are two columns for each head one is monthly and another is yearly. It is better to save first and then spend what is left behind rather than saving what is left behind after spending. Insert the desired amount against the respected column. You can plan a monthly amount for each purpose and a yearly average of savings that you want to make. The saving planner consists of the purpose of savings such as long term, holidays, mortgage, purchase of a car, motorbike, etc. Contents of Saving Goal Tracker Excel Template Let us discuss the contents of the template in detail. You can download other financial analysis templates like Credit Card Payoff Calculator, Savings Goal Tracker, Income Tax Calculator FY 2018-19 and Loan Amortization Template. Click here to Download All Personal Finance Excel Templates for ₹299. We have created a simple and easy Saving Goal Tracker Template to manage your income-expenses, plan your savings goals and track the progress of your saving goals.Ĭlick here to download Savings Goal Tracker Excel Template. Buy what you need and not what you desire.Limit or avoid using Credit Card unnecessarily.Make efforts to increase your earnings.Tips to Save More Out of Your Hard Earned Money Develop new skills or fund your higher education.Prepare for Retirement or early retirement.Acquire assets or pay for the mortgage.First and Foremost, to become financially independent.It also helps you to keep a track of the amounts deposited for each purpose every month.įurthermore, it also displays the difference between your income and expense and the deficit amount to fulfill your savings goals. "If you currently receive 0.5%, 1%, or even 1.25% from your current savings account versus 4%+ from high-yield savings, the difference, over time, would be substantial.Additionally, it helps you to plan a monthly amount to spare for multiple purposes. "Now that rates increased, there is more of a benefit to making this move," says Jim White, CFP, EA, founder of Great Oak Wealth Management. It's just one more reason you should switch to a high-yield account today. High-yield accounts are one of the easiest ways to grow your savings, and the latest Fed rate increase makes them worth even more. Ready to get a high-yield savings account? Get started here! The bottom line You may not earn as much if interest rates go down, but your initial balance won't be affected. Plus, unlike products like stocks, you won't lose your initial deposit in a savings account if market conditions change. So even if your bank fails, the government protects your money up to that amount. ![]() ![]() They're protected by FDIC insurance up to $250,000 per bank, per account (or NCUA insurance for the same amount for credit unions). They're safeĬompared to more volatile financial products, such as stocks, high-yield savings accounts are a safe place to keep your money. For example, many online banks offer low or no maintenance fees or minimum account balances. These banks have less overhead than traditional brick-and-mortar banks, which means their costs are lower and they can afford to provide better terms to their customers. Many high-yield savings accounts are offered by online banks. ![]()
0 Comments
Leave a Reply. |