2 years ago

What are some possible short-term savings goals and why are they important? (give examples)

1 answer:

4 0

Savings goals for the short term involve planning for the immediate future.

EXAMPLES: Paying for holidays, buying a new TV or smartphone or putting down a deposit on a house are all short-term savings goals.

It's easier and more convenient to save when you have goals. Setting goals gives you more time to save.

It is still very common for people to be very impulsive with their money, resulting in them rarely having the cash on hand needed to buy things they truly want or to cover emergencies. So, by having short term saving goals you would be able buy something you really wanted, pay for a holiday etc

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