You can tally up what you spend on the holidays this year and use that number as your target
savings goal for next year.
«Be specific in
your savings goals for next year,» says Rob Werner, president and CEO of Ardent Credit Union.
Not exact matches
You may have a
goal to save $ 1000
for new tires
for your car and then accumulate a larger
savings goal that you build on over the
next 4
years of school to use towards moving out of the family home, buying a new car or a down payment on starting a business.
Whether it's
next year's trip, a future home or a place
for your nest egg to grow, a CD may help you meet your
savings goals.
The key questions are — how long do you plan to stay in the home, when do you want to pay off the mortgage or sell the property, what will your income look like in the
next 3, 5 — 10
years — do you need better cash flow with lower payments or a workable repayment plan to pay off the mortgage sooner — knowing the borrower's short and long term plans and financial
goals is necessary to make the best options avilable — the numbers of actual cost and benefits are the answer — show the total costs of principal and interest over 5
year periods and the total
for keeping the loan
for the full term, these are the real costs and
savings for the borrower.