5 Steps to hit your saving goals

So we’re halfway through the year...How did that happen?! 

As we near the third quarter of the year, it’s important to reflect on the savings goals that we have set for ourselves. Whilst some of us may have been making the conscious decision to stick to our budget or saving goals, some of us may have completely thrown them out of the window.

Regardless of how your year is going so far, we’re here to help you get back, or keep, on track with hitting your saving goals.

Revisit your goals

Whether you have old financial goals or new ones, it’s always important that you check in with your goals. 

By doing so, you can reflect on your progress so that you’re able to stay on top of reaching your goals. Don’t be discouraged if you’ve had a bad month (or months) and saved less than you planned to. This is why revisiting your goals is particularly important as you can hold yourself accountable and pick yourself back up to get back on track.

It’s also important to revisit your goals simply because our circumstances could change and often our goals may even change. By revisiting your goals you will remind yourself of what you want and that should hopefully motivate you to continue striving to reach your goals.

Review your finances

To reach your savings goal, it would help to first face the numbers so that you have an idea of where your money is coming in from and where your money is going. 

This helps to form a budget, as you’ll be able to better anticipate any expenses but also know what you could cut back on and have a clear plan as to how you’ll be able to reach your saving goals. Often when setting a goal it can seem overwhelming to reach, which is why it’s important to have a clear plan that helps you to break it down into more manageable mini-goals that help to let you know that you are on the right track. 

By having a clear understanding of your finances, it will help you to be able to make a realistic budget or plan that will help you to reach your goals. 

Don’t have a budget or one that sticks? Read our blog here for all things budgeting. 

Automate your savings 

This one might just be a game-changer. 

By automating your savings, you could allocate a certain amount of money on a recurring basis that would be automatically transferred to your savings before it even reaches your current account. 

As the saying goes “out of sight, out of mind” and this is the idea behind having your savings automated. When your savings are set aside, you might think that you have less money and so will subconsciously make better financial decisions to spend smarter with the smaller budget that you have.


As you get into the habit of saving, you’ll begin to accumulate more and more. When you see a large amount of money in your savings, it can make you think that you have more money and tempt you to want to transfer your savings into your current account to spend (we’re all guilty!). 

Whilst your savings are of course yours, try looking at it from this perspective. Your savings aren’t for you - they’re for your goals and your future self, and so you wouldn’t go around spending someone else’s savings!

Although it can take a lot of discipline and willpower to not dip into your savings, it’s important that you don’t hinder yourself from achieving your saving goals for instant gratification. This is also why it’s important to have an emergency fund set aside so that you wouldn’t have to dip into your savings for any unexpected expenses. To learn more about building your very own emergency fund, check out our blog here.

Spend smarter

Spending money is pretty much inevitable, whether it’s for your day-to-day necessities or occasionally treating yourself. To reach your saving goals it doesn’t necessarily mean that you have to completely cut out spending, but rather spend smarter. 

This means that you could see where you can cut back when spending on your essentials, for example, do you need that name-brand grocery item from the supermarket, or could you just get the generic brand product and save a pound or two? You could also take advantage of discounts (for things you were already going to purchase), free trials, bulk buying on sale items that you use frequently, or simply having a plan before you spend.

Whilst you may do all of these things, the real magic happens when you use the money you have been able to save from spending smarter to contribute to your saving goals. With every penny you’re able to save, you should transfer them into your savings account and watch your savings grow. The more and more your money accumulates, the quicker you will be able to reach your savings goals and it will motivate you to continue to adopt these better spending habits.

Don’t let FOMO steal your savings

FOMO is real and with the likes of social media showing a highlight reel of everyone’s seemingly perfect and luxurious life, try to not let it deter you from your saving goals. Whilst you should treat and enjoy yourself, remember that keeping up with expectations and what everyone is doing may be costly. It’s okay to “miss out” on that latest trend (because there will be a new one in a few weeks) or on that night out you don’t really want to go to to help you reach your financial goals. 

The bottom line

Whilst you should enjoy yourself, try not to completely throw your saving habits completely out of the window. Remember that you can still have fun whilst making smart financial decisions that will help you to get closer to reaching your saving goals.