Setting our own savings priorities

Setting our own savings priorities

If you think about it, saving and spending are opposites, but also very dependent on each other. When you spend your money on something, there is much less left to put aside. Of course, the reverse is also true. If you manage to spend less money, there is enough leftover for savings. Conclusion? Whether we spend or save, we need to be sure of our choices. In other words, we need to set our own priorities.

Let’s talk a little bit about the savings priorities you could set, looking at some examples that might inspire you. Of course, do not forget that in the end your own choices are the ones that matter!

By reducing our expenses we have more money left over to save. You may be wondering how we can do that. One way is to learn to consume smartly, guided by our real needs, avoiding influences-traps such as fashion and the various patterns we may follow on social media. Also, we need to remain unaffected by the pressure we sometimes feel in order to be like others (peers, groups etc.). Very useful is also the “art” of Budgeting and the Expense Plan, something that we will have the opportunity to get to know later. 

Setting specific goals for our future, saving with stability and consistency becomes the vehicle that will provide us with certainty and will lead us to fulfill our dreams.

This helps us succeed either in times when we are facing financial difficulties, or when we aim to buy a new bicycle, or we want in the future to even own our own apartment. 

Another saving priority is to collect an amount which we will then invest in the future. So, after choosing a form of investment (we will talk about this later as well), we place our money looking forward to future income. 

Also, we save so that at some point we can donate an amount to someone who needs it or will make him happy. With this choice we show our love but also our solidarity and sensitivity towards our fellow human beings in need.

By setting the right savings priorities, we achieve another goal that we may not have initially thought of. We gradually acquire correct financial habits and security which is directly linked to our overall well-being in adulthood.

From the very first moment that money comes into our hands, it is good to save a part of it for the future. It can be for what we call “a difficult time” or to make a “dream come true”. How much money you will save is something personal and has to do with your own needs. The very process of saving is ultimately the biggest priority and in this you have your own Woli app as your ally!