Avoid swerving by setting goals

The real challenge now is staying on course and avoiding roadblocks.

Marie-Christine Daignault | Desjardins Group

What's your goal? Whether it's going on a trip to the other side of the world, buying a car or new surfing equipment, or starting your own business, you'll need willpower--and money. 

Let's be honest: that's usually where things get tough. To have money, you need to save. 

But how do you save when money doesn't appear magically out of nowhere? Don't worry! There's a way to manage your everyday finances so you can save--even if you have a small budget.  

Starting point: Pave the road to reach your destination. 
  • Define your objectives:
    • What's your goal?
    • How much will it cost?
    • When do you want to achieve it?
    •  How much do you need to save?
  • Make a budget
That's it! You know your budget and the real challenge now is staying on course and avoiding roadblocks. 

On the road: Avoid the 6 dangers that are as slippery as a puddle around a curve. 

Danger #1: Thinking short term
Draw up a budget once a year. When you start your career, you have the most student debt and your salary is barely enough. 

Danger #2: Buying now and paying back at a given time
Don't live on credit and say there will always be time to pay back later. There's nothing like waiting until you have money in your account before spending it. 

Danger #3: Saving too early and too quickly
Putting too much money aside can force you to dip into your savings for your basic needs.

Danger #4: Justifying your purchases by telling yourself you deserve them
You certainly deserve to buy yourself something, but it's the accumulation of small purchases that burns the bulk of our savings without us even noticing it. 

Danger #5: Giving in to temptation
Do you see something you like and you're really tempted to buy it? Take a deep breath and ask yourself if it helps you reach your goal or prevents you from reaching it. To make a rational decision, you'll need to take some time to think about it. The saying is true that you should "sleep on it."

Danger #6: Moving forward blindly
Use financial tools like My budget or Hop 'n S@ve to stay on course. The key to your success is planning your budget and being diligent about respecting it.

Arrival at destination: Make the most of your [enter your goal here].

Good luck with your savings goal. Remember that when you save, you pay for the greatest luxury: making your dreams come true--even your wildest ones!

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