Podcast Episode #024 - How Savings Trackers Can Help You Reach Your Money Goals

Podcast Episode #024 - How Savings Trackers Can Help You Reach Your Money Goals

Podcast Episode #024 - How Savings Trackers Can Help You Reach Your Money Goals

Mar 4, 2022

Podcast >

Podcast >

Advanced Concepts

Advanced Concepts

Powered by RedCircle

Are you struggling to get motivated to save money?

Make reaching your savings goals easier and more fun with savings trackers!

Savings trackers are a great way to get and stay motivated to reach your money goals.

In today's episode, I'll cover what savings trackers are, why they're awesome, and why you should be using them.

Action Task

For this week's action task, I want you to pick a savings goal and either create or download a savings tracker you can use to help reach that goal.

Here are some of my favorite places to find savings trackers:

Enjoy the show?

If you thought this episode was helpful, I'd love it you could leave a rating and review on Apple Podcasts.

And don't forget to hit subscribe so you never miss an episode!

Thanks for listening!

Have a question or an episode idea? Email me at podcast@gofrombroke.com or DM me on Instagram @GoFromBroke

Prefer to Read?

Below is the transcript from today's show. Or you can download the full transcript as a PDF.

Welcome to the Go From Broke podcast where you'll learn how to take control of your money so you can stress less and save more. If you're tired of living paycheck to paycheck or constantly wondering where your money is going, you're in the right place. This podcast is all about giving you actionable tips and advice so you can get started improving your finances today.

Have you been meaning to start saving up for something? Maybe a vacation or just your emergency fund, but you just can't seem to get motivated?

While in theory, saving money is simple, in practice it can be anything but. Especially if you're trying to save without making other changes to your behavior.

But you want a little tip?

Using a savings tracker will not only help you save money faster. It'll make the process easy and fun too.

So what exactly is a savings tracker?

Well, have you ever seen one of those fundraising posters with a thermometer drawn on it?

You know, the ones where they color in the donations as they reach different levels until gradually the thermometer is filled?

That's a savings tracker.

It's just a visual representation of your goal and your progress towards reaching it.

Typically savings trackers that we would use ourselves are printable designs, but they still have those same sections that you color and to show your progress.

Some savings trackers are specific to goals like a printable Christmas or a vacation savings tracker. While others are more customizable with room for you to specify not only what your specific goal is, but also how long you want to take to reach it.

There are also challenge-based savings trackers for things like a 52 week savings challenge or for paying off your credit card debt.

But regardless of what you're saving for, you can definitely find, or even create your own savings tracker that will help you reach your goal.

So why should you use a savings tracker?

Well, first of all, it can help you clarify your goals. Too often people will make vague goals to just save more money without any real objective behind it. It's just simply a goal to save.

But not having a plan for that money actually makes it harder to keep socking it away.

Another reason you should use a tracker is to help you visualize both your goal and your progress.

By visually tracking your progress you're conditioning yourself to succeed.

It's not just an in your face reminder of what your goals are, but it's also a reminder of all the steps you've taken to achieve them.

Trackers in general can help you stay focused, but if you make it really visible, like put it somewhere, you're going to see it every day, not only can you stay focused on that goal, but you'll stay more motivated to keep working towards it.

Okay. So you're convinced you need to start tracking your savings, but how do you go about actually using or creating your own savings tracker?

Well, first, you need to decide on a few things. What are you saving for? How much do you need to save? And is there a time that you need that money by.

Once, you know what you're saving for how much you need and when you need it by you're ready to find or create your tracker.

If you're like me and you prefer to look at something with a little bit of a design to it versus just a graph, you'll want to find a printable tracker.

Check Pinterest and Etsy for trackers specific to your savings goal.

For example, I was able to find the perfect savings tracker for our Disney/Universal trip.

Now, this trip has been three years in the making at this point. Because of 2020 being 2020, we had to delay for the foreseeable future, but the initial plan was to take our son for his 11th birthday to the Wizarding World of Harry Potter so that he could be accepted to Hogwarts on his 11th birthday.

Now that didn't happen, but I still found the perfect savings tracker for it. It's a Wizarding themed savings tracker. It's got the little Quidditch hoops and flags and a path that you color in as you reach your goal at the top. And we actually decided to color it in via the different house colors so that it would make it even more Harry Potter themed.

For me, the design alone makes me want to use the tracker. I'm more excited to save for that trip because I have the tracker.

Now I can save for that trip automatically by using an app or just automating our deposits. But it's more fun when we can all look and see the consequences of our actions. Like when we decide not to spend money on one thing, because we want to put it towards the Disney fund, we can actually see the progress being made with that.

If you're okay with something more plain, you can also just use some graph paper to plot out your own progress.

I like the fancy designs. So I would suggest at least giving it a try to go to Etsy or Pinterest and see what you can find.

You might just get ideas for what you can make on your own. If you're artsy or crafty, you could totally make your own fancy one too.

Okay, so now that you've got your actual tracker, you need to know how to fill it in.

There are different ways of creating savings trackers, and each has a different method of filling in your progress.

So if you buy one off of Etsy or if you download one online, chances are, they're going to tell you how to fill it out. But sometimes you might just find one that's like that thermometer and you've got to sort of figure it out yourself.

Usually what you'll do is start by dividing up your coloring spaces by the total amount you want to save. This way, each colored in segment corresponds to a specific amount saved.

For example on my Harry Potter one, each square represents $60. So every time we put $60 into savings, we color a little square.

Now there are other trackers that may be more date-based like the 52 week savings challenge, where you would just check off or highlight your progress on specific days.

I actually have one of these available that I'll link to in the show notes where I'm doing a save $2,022 in 2022, and it is a 52 week savings challenge. So each week as you save that money, you just check it off.

There are also some trackers that are time-bound like a monthly savings challenge where you just have a daily savings target that you can check off or color day by day.

So if you have like a 30 day savings challenge, and you've got 30 little squares with a savings amount in each square you can color whichever square you saved that day.

And finally there are somewhat more open-ended trackers. Like if you're wanting to track your net worth. These are ones that will probably be graphed out and maybe you'll have like some highlights along the way for any milestones you reach. But overall, it's more linear.

Okay, now while a savings tracker in general will help you hit your targets, keeping it someplace where you see it is actually the key to hitting them faster.

I like to post my savings tracker where I'll see them every day. Typically they're in my office, but sometimes I'll put them on the fridge to remind the family why I'm saying no to pizza so often.

Keeping your goals at the front of your mind by literally keeping them in front of your face is a great way to combat impulsive spending.

Having the tracker on the fridge doesn't mean that we never get pizza. But when you frame the decision as a choice between your established priority and a spontaneous splurge, it's easier to at least make an informed and intentional decision.

Make sure you figure out where you're going to put your tracker so that it stays visible and it's always on top of your mind.

So, are you excited to get started with savings trackers?

I hope so because that's your action task for this week. I want you to pick a savings goal, then either create or download a tracker to help you reach it.

I'll have links to some free ones in the show notes, but remember, you can always make your own.

However you do it just try it out.

Make a plan to start using a tracker to help you save intentionally for a specific goal.

Remember visualizing your savings goals and tracking your progress is one of the most effective ways to achieving your goals.

Plus having a record of your savings journey is kind of a nice keepsake and it might actually help you as you tackle future money goals.

Once you've got your savings tracker all set up, take a picture of it and post it on Instagram and then make sure you tag me @GoFromBroke so I can cheer you on.

If you enjoyed this episode, share it with a friend or leave a rating and review to help other people find the podcast.

As always take action and make it a great day.

Oh hey, before you go, I wanted to let you know that Go From Broke isn't just a website and podcast anymore. I now offer one-on-one financial coaching too. So if you've been stressed out and struggling to take control of your money, let's chat!

Head over to gofrombroke.com/coaching to schedule a free Q&A call where we'll discuss your unique situation and whether financial coaching is a good fit for you.

I look forward to hearing from you and can't wait to help you stress less and save more.


Powered by RedCircle

Are you struggling to get motivated to save money?

Make reaching your savings goals easier and more fun with savings trackers!

Savings trackers are a great way to get and stay motivated to reach your money goals.

In today's episode, I'll cover what savings trackers are, why they're awesome, and why you should be using them.

Action Task

For this week's action task, I want you to pick a savings goal and either create or download a savings tracker you can use to help reach that goal.

Here are some of my favorite places to find savings trackers:

Enjoy the show?

If you thought this episode was helpful, I'd love it you could leave a rating and review on Apple Podcasts.

And don't forget to hit subscribe so you never miss an episode!

Thanks for listening!

Have a question or an episode idea? Email me at podcast@gofrombroke.com or DM me on Instagram @GoFromBroke

Prefer to Read?

Below is the transcript from today's show. Or you can download the full transcript as a PDF.

Welcome to the Go From Broke podcast where you'll learn how to take control of your money so you can stress less and save more. If you're tired of living paycheck to paycheck or constantly wondering where your money is going, you're in the right place. This podcast is all about giving you actionable tips and advice so you can get started improving your finances today.

Have you been meaning to start saving up for something? Maybe a vacation or just your emergency fund, but you just can't seem to get motivated?

While in theory, saving money is simple, in practice it can be anything but. Especially if you're trying to save without making other changes to your behavior.

But you want a little tip?

Using a savings tracker will not only help you save money faster. It'll make the process easy and fun too.

So what exactly is a savings tracker?

Well, have you ever seen one of those fundraising posters with a thermometer drawn on it?

You know, the ones where they color in the donations as they reach different levels until gradually the thermometer is filled?

That's a savings tracker.

It's just a visual representation of your goal and your progress towards reaching it.

Typically savings trackers that we would use ourselves are printable designs, but they still have those same sections that you color and to show your progress.

Some savings trackers are specific to goals like a printable Christmas or a vacation savings tracker. While others are more customizable with room for you to specify not only what your specific goal is, but also how long you want to take to reach it.

There are also challenge-based savings trackers for things like a 52 week savings challenge or for paying off your credit card debt.

But regardless of what you're saving for, you can definitely find, or even create your own savings tracker that will help you reach your goal.

So why should you use a savings tracker?

Well, first of all, it can help you clarify your goals. Too often people will make vague goals to just save more money without any real objective behind it. It's just simply a goal to save.

But not having a plan for that money actually makes it harder to keep socking it away.

Another reason you should use a tracker is to help you visualize both your goal and your progress.

By visually tracking your progress you're conditioning yourself to succeed.

It's not just an in your face reminder of what your goals are, but it's also a reminder of all the steps you've taken to achieve them.

Trackers in general can help you stay focused, but if you make it really visible, like put it somewhere, you're going to see it every day, not only can you stay focused on that goal, but you'll stay more motivated to keep working towards it.

Okay. So you're convinced you need to start tracking your savings, but how do you go about actually using or creating your own savings tracker?

Well, first, you need to decide on a few things. What are you saving for? How much do you need to save? And is there a time that you need that money by.

Once, you know what you're saving for how much you need and when you need it by you're ready to find or create your tracker.

If you're like me and you prefer to look at something with a little bit of a design to it versus just a graph, you'll want to find a printable tracker.

Check Pinterest and Etsy for trackers specific to your savings goal.

For example, I was able to find the perfect savings tracker for our Disney/Universal trip.

Now, this trip has been three years in the making at this point. Because of 2020 being 2020, we had to delay for the foreseeable future, but the initial plan was to take our son for his 11th birthday to the Wizarding World of Harry Potter so that he could be accepted to Hogwarts on his 11th birthday.

Now that didn't happen, but I still found the perfect savings tracker for it. It's a Wizarding themed savings tracker. It's got the little Quidditch hoops and flags and a path that you color in as you reach your goal at the top. And we actually decided to color it in via the different house colors so that it would make it even more Harry Potter themed.

For me, the design alone makes me want to use the tracker. I'm more excited to save for that trip because I have the tracker.

Now I can save for that trip automatically by using an app or just automating our deposits. But it's more fun when we can all look and see the consequences of our actions. Like when we decide not to spend money on one thing, because we want to put it towards the Disney fund, we can actually see the progress being made with that.

If you're okay with something more plain, you can also just use some graph paper to plot out your own progress.

I like the fancy designs. So I would suggest at least giving it a try to go to Etsy or Pinterest and see what you can find.

You might just get ideas for what you can make on your own. If you're artsy or crafty, you could totally make your own fancy one too.

Okay, so now that you've got your actual tracker, you need to know how to fill it in.

There are different ways of creating savings trackers, and each has a different method of filling in your progress.

So if you buy one off of Etsy or if you download one online, chances are, they're going to tell you how to fill it out. But sometimes you might just find one that's like that thermometer and you've got to sort of figure it out yourself.

Usually what you'll do is start by dividing up your coloring spaces by the total amount you want to save. This way, each colored in segment corresponds to a specific amount saved.

For example on my Harry Potter one, each square represents $60. So every time we put $60 into savings, we color a little square.

Now there are other trackers that may be more date-based like the 52 week savings challenge, where you would just check off or highlight your progress on specific days.

I actually have one of these available that I'll link to in the show notes where I'm doing a save $2,022 in 2022, and it is a 52 week savings challenge. So each week as you save that money, you just check it off.

There are also some trackers that are time-bound like a monthly savings challenge where you just have a daily savings target that you can check off or color day by day.

So if you have like a 30 day savings challenge, and you've got 30 little squares with a savings amount in each square you can color whichever square you saved that day.

And finally there are somewhat more open-ended trackers. Like if you're wanting to track your net worth. These are ones that will probably be graphed out and maybe you'll have like some highlights along the way for any milestones you reach. But overall, it's more linear.

Okay, now while a savings tracker in general will help you hit your targets, keeping it someplace where you see it is actually the key to hitting them faster.

I like to post my savings tracker where I'll see them every day. Typically they're in my office, but sometimes I'll put them on the fridge to remind the family why I'm saying no to pizza so often.

Keeping your goals at the front of your mind by literally keeping them in front of your face is a great way to combat impulsive spending.

Having the tracker on the fridge doesn't mean that we never get pizza. But when you frame the decision as a choice between your established priority and a spontaneous splurge, it's easier to at least make an informed and intentional decision.

Make sure you figure out where you're going to put your tracker so that it stays visible and it's always on top of your mind.

So, are you excited to get started with savings trackers?

I hope so because that's your action task for this week. I want you to pick a savings goal, then either create or download a tracker to help you reach it.

I'll have links to some free ones in the show notes, but remember, you can always make your own.

However you do it just try it out.

Make a plan to start using a tracker to help you save intentionally for a specific goal.

Remember visualizing your savings goals and tracking your progress is one of the most effective ways to achieving your goals.

Plus having a record of your savings journey is kind of a nice keepsake and it might actually help you as you tackle future money goals.

Once you've got your savings tracker all set up, take a picture of it and post it on Instagram and then make sure you tag me @GoFromBroke so I can cheer you on.

If you enjoyed this episode, share it with a friend or leave a rating and review to help other people find the podcast.

As always take action and make it a great day.

Oh hey, before you go, I wanted to let you know that Go From Broke isn't just a website and podcast anymore. I now offer one-on-one financial coaching too. So if you've been stressed out and struggling to take control of your money, let's chat!

Head over to gofrombroke.com/coaching to schedule a free Q&A call where we'll discuss your unique situation and whether financial coaching is a good fit for you.

I look forward to hearing from you and can't wait to help you stress less and save more.


Powered by RedCircle

Are you struggling to get motivated to save money?

Make reaching your savings goals easier and more fun with savings trackers!

Savings trackers are a great way to get and stay motivated to reach your money goals.

In today's episode, I'll cover what savings trackers are, why they're awesome, and why you should be using them.

Action Task

For this week's action task, I want you to pick a savings goal and either create or download a savings tracker you can use to help reach that goal.

Here are some of my favorite places to find savings trackers:

Enjoy the show?

If you thought this episode was helpful, I'd love it you could leave a rating and review on Apple Podcasts.

And don't forget to hit subscribe so you never miss an episode!

Thanks for listening!

Have a question or an episode idea? Email me at podcast@gofrombroke.com or DM me on Instagram @GoFromBroke

Prefer to Read?

Below is the transcript from today's show. Or you can download the full transcript as a PDF.

Welcome to the Go From Broke podcast where you'll learn how to take control of your money so you can stress less and save more. If you're tired of living paycheck to paycheck or constantly wondering where your money is going, you're in the right place. This podcast is all about giving you actionable tips and advice so you can get started improving your finances today.

Have you been meaning to start saving up for something? Maybe a vacation or just your emergency fund, but you just can't seem to get motivated?

While in theory, saving money is simple, in practice it can be anything but. Especially if you're trying to save without making other changes to your behavior.

But you want a little tip?

Using a savings tracker will not only help you save money faster. It'll make the process easy and fun too.

So what exactly is a savings tracker?

Well, have you ever seen one of those fundraising posters with a thermometer drawn on it?

You know, the ones where they color in the donations as they reach different levels until gradually the thermometer is filled?

That's a savings tracker.

It's just a visual representation of your goal and your progress towards reaching it.

Typically savings trackers that we would use ourselves are printable designs, but they still have those same sections that you color and to show your progress.

Some savings trackers are specific to goals like a printable Christmas or a vacation savings tracker. While others are more customizable with room for you to specify not only what your specific goal is, but also how long you want to take to reach it.

There are also challenge-based savings trackers for things like a 52 week savings challenge or for paying off your credit card debt.

But regardless of what you're saving for, you can definitely find, or even create your own savings tracker that will help you reach your goal.

So why should you use a savings tracker?

Well, first of all, it can help you clarify your goals. Too often people will make vague goals to just save more money without any real objective behind it. It's just simply a goal to save.

But not having a plan for that money actually makes it harder to keep socking it away.

Another reason you should use a tracker is to help you visualize both your goal and your progress.

By visually tracking your progress you're conditioning yourself to succeed.

It's not just an in your face reminder of what your goals are, but it's also a reminder of all the steps you've taken to achieve them.

Trackers in general can help you stay focused, but if you make it really visible, like put it somewhere, you're going to see it every day, not only can you stay focused on that goal, but you'll stay more motivated to keep working towards it.

Okay. So you're convinced you need to start tracking your savings, but how do you go about actually using or creating your own savings tracker?

Well, first, you need to decide on a few things. What are you saving for? How much do you need to save? And is there a time that you need that money by.

Once, you know what you're saving for how much you need and when you need it by you're ready to find or create your tracker.

If you're like me and you prefer to look at something with a little bit of a design to it versus just a graph, you'll want to find a printable tracker.

Check Pinterest and Etsy for trackers specific to your savings goal.

For example, I was able to find the perfect savings tracker for our Disney/Universal trip.

Now, this trip has been three years in the making at this point. Because of 2020 being 2020, we had to delay for the foreseeable future, but the initial plan was to take our son for his 11th birthday to the Wizarding World of Harry Potter so that he could be accepted to Hogwarts on his 11th birthday.

Now that didn't happen, but I still found the perfect savings tracker for it. It's a Wizarding themed savings tracker. It's got the little Quidditch hoops and flags and a path that you color in as you reach your goal at the top. And we actually decided to color it in via the different house colors so that it would make it even more Harry Potter themed.

For me, the design alone makes me want to use the tracker. I'm more excited to save for that trip because I have the tracker.

Now I can save for that trip automatically by using an app or just automating our deposits. But it's more fun when we can all look and see the consequences of our actions. Like when we decide not to spend money on one thing, because we want to put it towards the Disney fund, we can actually see the progress being made with that.

If you're okay with something more plain, you can also just use some graph paper to plot out your own progress.

I like the fancy designs. So I would suggest at least giving it a try to go to Etsy or Pinterest and see what you can find.

You might just get ideas for what you can make on your own. If you're artsy or crafty, you could totally make your own fancy one too.

Okay, so now that you've got your actual tracker, you need to know how to fill it in.

There are different ways of creating savings trackers, and each has a different method of filling in your progress.

So if you buy one off of Etsy or if you download one online, chances are, they're going to tell you how to fill it out. But sometimes you might just find one that's like that thermometer and you've got to sort of figure it out yourself.

Usually what you'll do is start by dividing up your coloring spaces by the total amount you want to save. This way, each colored in segment corresponds to a specific amount saved.

For example on my Harry Potter one, each square represents $60. So every time we put $60 into savings, we color a little square.

Now there are other trackers that may be more date-based like the 52 week savings challenge, where you would just check off or highlight your progress on specific days.

I actually have one of these available that I'll link to in the show notes where I'm doing a save $2,022 in 2022, and it is a 52 week savings challenge. So each week as you save that money, you just check it off.

There are also some trackers that are time-bound like a monthly savings challenge where you just have a daily savings target that you can check off or color day by day.

So if you have like a 30 day savings challenge, and you've got 30 little squares with a savings amount in each square you can color whichever square you saved that day.

And finally there are somewhat more open-ended trackers. Like if you're wanting to track your net worth. These are ones that will probably be graphed out and maybe you'll have like some highlights along the way for any milestones you reach. But overall, it's more linear.

Okay, now while a savings tracker in general will help you hit your targets, keeping it someplace where you see it is actually the key to hitting them faster.

I like to post my savings tracker where I'll see them every day. Typically they're in my office, but sometimes I'll put them on the fridge to remind the family why I'm saying no to pizza so often.

Keeping your goals at the front of your mind by literally keeping them in front of your face is a great way to combat impulsive spending.

Having the tracker on the fridge doesn't mean that we never get pizza. But when you frame the decision as a choice between your established priority and a spontaneous splurge, it's easier to at least make an informed and intentional decision.

Make sure you figure out where you're going to put your tracker so that it stays visible and it's always on top of your mind.

So, are you excited to get started with savings trackers?

I hope so because that's your action task for this week. I want you to pick a savings goal, then either create or download a tracker to help you reach it.

I'll have links to some free ones in the show notes, but remember, you can always make your own.

However you do it just try it out.

Make a plan to start using a tracker to help you save intentionally for a specific goal.

Remember visualizing your savings goals and tracking your progress is one of the most effective ways to achieving your goals.

Plus having a record of your savings journey is kind of a nice keepsake and it might actually help you as you tackle future money goals.

Once you've got your savings tracker all set up, take a picture of it and post it on Instagram and then make sure you tag me @GoFromBroke so I can cheer you on.

If you enjoyed this episode, share it with a friend or leave a rating and review to help other people find the podcast.

As always take action and make it a great day.

Oh hey, before you go, I wanted to let you know that Go From Broke isn't just a website and podcast anymore. I now offer one-on-one financial coaching too. So if you've been stressed out and struggling to take control of your money, let's chat!

Head over to gofrombroke.com/coaching to schedule a free Q&A call where we'll discuss your unique situation and whether financial coaching is a good fit for you.

I look forward to hearing from you and can't wait to help you stress less and save more.


Need some help?

Whether you're struggling to stick to a budget, overwhelmed with debt, or just wanting to feel a bit more in control, I'm happy to guide you toward your best next step.

Need some help?

Whether you're struggling to stick to a budget, overwhelmed with debt, or just wanting to feel a bit more in control, I'm happy to guide you toward your best next step.

Need some help?

Whether you're struggling to stick to a budget, overwhelmed with debt, or just wanting to feel a bit more in control, I'm happy to guide you toward your best next step.

You're in good hands

You're in good hands

You're in good hands

© 2024 GO FROM BROKE

This site may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. Please read my disclosure policy for more info.

© 2024 GO FROM BROKE

This site may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. Please read my disclosure policy for more info.

© 2024 GO FROM BROKE

This site may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. Please read my disclosure policy for more info.