As detailed in a previous post, I need to save/raise $267/month for 18 months to be able to go to Brazil for the 2014 World Cup.
- Decrease my debt repayments. A wise student leader once told me a budget is a reflection of priorities. This Brazil trip is theonlything I want more than paying off my student loans as quickly as humanly possible. So I’ll be taking some of those funds and putting it toward Brazil.
- Create 1 or more Brazil accounts. My current method of “saving” is a bit sneaky. Instead of putting it in a separate account, I just don’t touch the money… It’s more like a self-imposed overdraft protection really. That’s not good enough anymore. To make sure my Brazil funds never work their way back into my cash flow, I’ll be depositing the money in two TFSAs.
- Put away the credit cards for real. I’ve paid off my credit cards several times but somehow always get sucked back into using them. Not this year.
- Put all other discretionary spending in perspective. I’m not going to promise to only buy the bare essentials but I’ll really think twice about how I spent my extra cash. Do Ireallyneed that cute dress? Or would I rather spend that money in Rio?
That’s all I have so far. Not hard at all to be honest! What do you do to save for big goals?
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