Prioritizing Your Savings Goals

Written and provided by CBIZ

Getting your financial goals in order can feel overwhelming, but it doesn’t have to be

stressful. With so many competing priorities, such as your bills, debt, and saving for the future, it’s easy to feel unsure of where to start. The good news is you can take it one step at a time. By focusing on what matters most and making intentional choices, you can create a plan that fits your life, values, and overall wellbeing.

Start by thinking about what matters most to you so that your values guide your financial choices. Your top priorities might include family time, long-term financial security, or travel experiences. You may also have hobbies or other extras that bring you joy. It’s fine to enjoy the things you love, as long as they don’t take priority over essential goals.

Next, consider both short-term and long-term goals. Short-term goals may include building an emergency fund, paying off debt, or saving for a vacation. Long-term goals could be buying a home, funding education, or saving for retirement. You can save for multiple goals at the same time, but make sure your top priorities, such as your emergency fund or retirement, are funded first. Also, breaking your goals into smaller, manageable pieces makes it easier to decide which goals to focus on and stay motivated.

One of the easiest ways to reach your goals is to make saving automatic. Setting up a direct deposit into your savings or investment accounts ensures that your most important goals are funded first. If your employer offers a 401(k) or similar plan with an automatic savings feature, take advantage of it, especially if there’s a match. Automatic saving removes the temptation to spend money elsewhere and helps you build financial confidence over time.

Finally, turn your goals into action. Write them down, set target dates, and review your progress regularly. Adjust priorities as life changes to stay on track. Your financial wellbeing is one part of your overall wellness, and prioritizing your savings goals is about making intentional choices that build confidence and peace of mind, one step at a time.

Key Actions to Prioritize Savings Goals

• Focus on what matters most

• Set short- and long-term goals

• Automate your savings

• Write it down