Saving for your dream can seem like an overwhelming task. However, many people manage to achieve their dream goal with good planning and a bit of discipline. In this article, we explain how you too can save in a structured way.

The first step

The first step in saving for your dream is to set a goal. This goal should be specific, measurable, achievable, relevant, and time-bound (the SMART method). For example, instead of saying "I want to save money," a SMART goal would be "I want to save €5,000 for my adventurous trip in 2025".

SMART saving helps you to make your savings goals more specific and gives saving money a clearer focus. By knowing how much money you want to save, when you want to save it, and what you want to save it for, you can create a plan to achieve your goals and measure your savings performance. This makes it easier to know if you are on the right track and to adjust if necessary.

Create a budget

Once you have a goal in mind, it’s time to create a plan to achieve it. One of the most effective ways to save money is to create a budget. A budget helps you to track your income and expenses and to identify areas where you can save. For example, if you find that you are spending too much money on eating out, you might try cooking more meals at home or looking for cheaper alternatives.

Saving 20%

Another important aspect of saving for your dream is ensuring that you save enough money. A good guideline is to save at least 20% of your income. This may be a bit painful and mean you spend less on things like clothes, but isn’t your dream worth it?

Savings through a piggy bank

Savvy saving in a piggy bank can be an effective way to set aside money for a specific goal. This could be a fixed amount each month or a percentage of your income, the 20% as described above. This can help give your savings goals a structural approach and allow the money you save to grow.

It’s smart to keep your piggy bank in a safe place where you won’t easily give it away. A place further away from your current account, so you cannot spend the money directly at the slightest temptation. This way, you stay away from your savings and don’t end up back at zero at the end of the journey.

Good luck saving!