Saving Money Chart: The Secret To Increasing Net Worth
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People are constantly looking for ways to save money, but it can be difficult. If you’re like me, that uncertainty keeps you from taking action.
If this sounds familiar to you and your friends or family members who want the best way possible in saving some cash, then I have good news: there is a secret formula!
Money Saving Charts! A simple way to save more money. For many Money Bliss readers, it has changed their lives completely.
We have the most popular money saving challenges around!
If you are looking for a chart on how to save money, then you are in the right place.
Money saving charts are one of the ways that individuals can save money. There’s a wide variety of different types and each type has its own purpose, depending on what you want to achieve with your savings.
By using a money saving chart, you can easily track your progress, stay motivated overtime, and save more money overall.
What are Money Savings Charts?
Money savings charts are a great way to keep track of your money.
We have a slew of saving money charts to choose from here at Money Bliss! Use fun gel pens or highlighters for a colorful way to stay motivated.
They allow you to visually see how much money you are saving and help you stay on track with your goals.
Living below your means is a difficult task, especially if you are a one-income family. However, with careful planning and execution, it is possible to save money and increase your liquid net worth.
One way to do this is by using money saving charts. These charts allow you to track your progress and make adjustments as needed.
Why Use a Saving Money Chart?
One of the best ways to save money is by tracking your spending and savings. One way to do this is through a monthly budget, which can help you stay on track with your goals and avoid unnecessary spending.
A money saving chart will help you see where your money goes and how to spend it wisely.
This is a great way to visualize the data and make sure you aren’t wasting any money.
By seeing how much money you save each month, you can better understand where you can cut back, make informed financial decisions, and save more money.
What Can You Track With Money Savings Charts?
Money savings charts are used for tracking the progress of a specific goal or project.
They can be created in Excel, Google Sheets, or a simple printable to hang around the house.
A money saving chart is a great way to keep track of your progress.
It helps you stay motivated and inspired as you watch your net worth grow. Additionally, it’s easy to see yourself making progress when using a money saving chart – which can encourage you to save even more money!
#1 – Debt Payoff
Debt payoff is the process of paying off debt. The goal is to pay off your debt faster than the payoff date.
When you’re trying to pay off your debt, it’s important to track your progress. This will help you stay motivated and see success.
You can use a free debt payoff tracker or printables to help you out. With these tools, paying off your car loans, student loans, and more will be a breeze!
#2 – Emergency Fund
An emergency fund is an account where money can be stored for short-term financial emergencies. You should save $1,000 as a starter emergency fund. Figure out how much emergency fund you need.
A well-funded emergency fund is one of the smartest things you can do for yourself both financially and emotionally.
This money should be set aside in case of an unexpected expense, such as a car repair or medical bill if you don’t have sinking funds.
Use these charts to help you save for your emergency fund more quickly.
$3 – Car Fund
A car fund is money set aside to purchase a car. The goal is to pay for the car in full and not take out a car loan.
Just remember… a car is a depreciating asset, so you only should buy what you are willing to lose, but still have the safety features you want.
You can use this car fund tracker to save for anything related to a car, such as the cost of a new or used car, down payment, or ongoing maintenance. This tracker is simple and easy to use, and it’s also very cute!
#4 – Vacation Fund
It can be tough to save up for a vacation while you’re trying to live your everyday life, but it’s definitely not impossible.
One way to do it is by setting up a “vacation fund” and depositing a certain amount of money into it every month. That way, when the time comes to take that much-needed break, you’ll have the cash to cover it without breaking the bank.
The amount of money that can be deposited into the account can vary. Personally, we set aside a set amount each month to fund our love to travel!
#5 – House Down Payment or Home Improvement
This printable helps you save for anything on your house- including a down payment.
It is a pivotal moment in someone’s life and it is important to be financially ready for buying a house. Having this saving goal will help make the process easier.
If you are looking at remodeling or just wanting to set money aside for a furnace, this is a great way to keep you motivated (even if you are excited about the project or not).
#6 – Wedding Savings
Saving for a wedding can be a daunting task, but it’s important to remember that it will help avoid debt in the long run.
Creating and following a money saving chart can help you save for your dream wedding or any honeymoon you want to take. You will be able to see your progress and adjust your spending habits along the way.
There are many ways to save money for a wedding, and one easy way is to use a printable wedding savings chart.
#7 – Investments (401k, Roth IRA, etc.)
Saving for your future is one of the most important things you can do and the sooner you start, the better.
The money savings chart will help guide your investment goals so that you can save for a comfortable retirement.
You want to make sure to use a saving money chart each year for retirement. Then, it will help you save year after year and reach your goal faster.
#8 – Rainy Day Fund
A rainy day fund is a large sum of money saved specifically to cover unexpected expenses beyond just emergencies. This could be anything from job loss to a medical emergency.
Having a rainy day fund gives you peace of mind in knowing that you have the resources to take care of yourself and your loved ones in times of crisis.
The money in your rainy day fund should cover 3-6 months of expenses. At the bare minimum, you would need a $10,000 savings goal for your rainy day fund.
#9 – To Stop Working Early
This one can be a hotly debated topic, but if you don’t want to wait until retirement age to retire than you need to start setting money aside today in a joint brokerage account.
You need to start going your money through investments to pay for your future expenses.
This is part of the popular FIRE movement or I just want to don’t want to work anymore.
This is a longer term goal that will take you 3-10 years to complete depending on your hustle, but it is a great financial vision to strive towards.
#10 – Just Because
This one is my favorite! Because each of us is on our own journey and financial path.
Your saving goals are going to be different than mine. And that is okay!
The end goal is to be saving more than you were previously. So, comment below and let us know what you are saving for.
How to Use A Money Saving Chart
This money saving chart is a great tool for understanding where you are towards your goal.
More than likely, you want to place your chart in a very prominent place. Somewhere you need constant reminders to stay on track.
This chart is designed to help you save money.
Once you complete a square, line, or box, color in that section to show you finished it.
That way, you will steadily increase your savings over time!
I truly believe tracking your savings goals come alive once you add some color. So, here are the supplies you need to get started.
Below are links to my favorite products 🙂
5 Tips to Help You Save More Money
There are a number of things you can do to help you save more money. Here are five tips to get you started:
1. Know Why You Are Saving
Remember, the best way to save money is when you have a purpose.
Make a list of your long-term financial goals and focus on achieving them first. This will give you something to work towards and stay motivated throughout the process!
2. Pay Yourself First
An easy way to start saving money is to pay yourself first.
Every time you get paid, put a small amount of your paycheck into savings before you spend it. By automatically transferring a fixed amount of money into savings or investments each month, you are guaranteeing you will hit your goals.
Then, you will always have money saved for emergencies and other important things.
It is not good to be tempted to spend the money sitting in your account. Move it to a savings or investment account and pay yourself first.
3. Set a Spending Limit:
It is important to set a spending limit for yourself and stick to it, even if you don’t want to.
If you are struggling financially, set a budget and make a plan to stick to it.
If you don’t, then you start a ridiculous cycle where you keep getting sucked back into spend-spend-spend, which leads to stressed-out, which leads to more spending.
The solution is to set a spending limit and stick with it.
4. Make Your Savings Automatic:
If you’re serious about saving money, you need to make it automatic.
That means that you have money automatically taken out of your paycheck and put into a savings account before you even see the cash. You can’t spend it if you never see it.
If a certain amount is taken out of your check each week, then you won’t even miss the money.
You can also set up an automatic transfer from your checking account to a savings account.
This is the best way to force yourself to save money and keep it out of sight, so you won’t miss it or spend it.
5. Make Saving Money Fun:
Saving money can be fun and it should be fun if you want to do it for the rest of your life!
One way to make saving money fun is to set up a savings challenge with friends.
Everyone puts in some money and at the end of the month, whoever has saved the most wins! You can also try to save money by playing games. For example, you can try to see how little money you can spend on a date or at the movies.
Top Fun Ways to Save Money:
- 100 Envelope Challenge – Fun $5050 Money Saving Plan
- How to Save $10,000 in a Year: Your Simple Guide for Saving Money
- 20 Simple Money Saving Challenge to Save More in 2022
6. Make Saving Money A Priority:
You can’t save money if you don’t make it a priority.
If saving money is important to you, then make time in your schedule for it.
Schedule savings just like you schedule meetings and other things. This is a planned date to move money and actually save!
If you want to save money, then make it a priority!
7. Increase Your Income
Increasing your income can be challenging.
However, it is more beneficial to increase the amount of money coming in rather than cutting more expenses.
You can also look into ways to make more money through side hustles or investments. Whatever route you choose, increasing your income can help improve your financial situation.
8. Track Spending:
There are a number of ways that you can increase your income without getting a second job. And many people enjoy this route, so your saving money tip.
You can start by evaluating your spending habits and looking for ways to cut back, like canceling unnecessary subscriptions or downgrading your cable plan.
It is important to track your spending in order to see where the money is going. You’ll be able to see what you’re spending on and then set a budget that includes only the essential expenses.
Avoid unnecessary expenses by being mindful of what you’re buying and where you’re spending your money.
9. Start Saving Early:
If you start saving early, it will be easier for you to save more money because you are in the habit of savings.
While we all cannot save at a young age, we can start now. That way you will have more saved up by the time you are older and ready to retire.
Saving money is very important in building up net worth.
With the help of compounding interest, you will reap the benefits of saving early.
10. Stay Positive
Last but not least, staying positive and motivated is key to saving money.
When you have a clear goal in mind and are determined to achieve it, it will be much easier to stick to your budget and save more money.
You have to stay motivated throughout your journey and staying positive will help your mindset and believe you can achieve anything!
Money Saving Chart Printable
There are many different ways to save money, and one great way to start is by using a printable money saving chart.
In our free resource library, you can find many free money saving charts printable to help get you started on your savings journey.
Above is an example of a chart that can be printed for saving money. Download your PDF copy.
Which Save Money Chart will You Use?
A savings chart plots out how much has been saved, thus allowing you to visualize how far you have come and have far you have left to reach your goal.
The whole concept of saving money is not a new idea, but you may want to break down your savings goals into smaller steps like cash goals, financial goals, and net worth goals.
More importantly, filling out this chart is a helpful way for personal finance to save money and gain more net worth.
The secret to saving money is in this easy step-by-step guide. What is the best way for you to save hundreds of dollars or even thousands? It’s all about planning and thinking ahead.
With this small guide in your hand, you’ll be able to save more than $100 a month and take the mystery out of saving money! Many of our readers save $10K in a year.
Start today and enjoy the benefits of living a richer life!