Shock plan: define your savings goals


Are you one of those who has an infinite list of goals to achieve? Have you proposed to save and the piggy bank is still zero? If your answer is yes, something is failing. Peace of mind, let’s analyze what the problem is. The purposes you have set may not be clear. Today we will explain how to define realistic savings goals so that your plan is a success.

Working for objectives is applicable to any field, be it education, work, family, savings … To get something you first have to visualize it. Only in this way, you will know what steps you have to take to achieve it and reach the goal. The first of these steps is the definition of the objectives and the clearer they are, the closer you will be to achieve your purpose.


SMART Objectives

To define your savings objectives and whatever type, apply the SMART methodology . It does not mean that your goals are intelligent, that too, but that they are the acronyms of the characteristics your goals should have:

S pecific: specific

M easurable: measurable

A chievable: attainable

R elevant: relevant

T imely: temporalizable



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An objective cannot be ambiguous, but must accurately reflect what you want to achieve. Keep in mind that the more specific and concise it is, the better you can focus on it. When defining your savings goals, to meet this first characteristic, you must be able to quantify it.

For example: “save 2,000 euros to go on vacation in August.”



savings goal

In order to know whether or not we are achieving our purpose, it is necessary to establish criteria that allow us to know the degree of achievement thereof. Therefore, an objective must be measurable and quantifiable.

Given this, if you want to go on vacation in August and we are in January, our goal would be: “save 333 euros per month”.



savings loan

Setting very ambitious goals will only make you frustrated and feel that you have failed. Therefore, we advise you to propose things you can achieve. Of course they will be an effort, but this must be acceptable on your part.

Following our example, in this case, you would have to value your income and expenses to know if it is viable for you to save 333 euros per month. If it is not, set a lower amount and consider a cheaper vacation.

To have greater control and knowledge of your income and expenses, at Caja Rural we offer you our ruralvia report app . An application with which to know in detail how your income and expenses are being distributed.



There are those who the R of the word SMART define it as relevant and others, as realistic. The meaning is the same. The more realistic and important to you your savings goals are, the better. Achieving your goals, as we have told you, will be an effort, so stop to think if that effort is worth it or not.

Do you need, want, is it important for you to go on vacation this summer? The answer only you know.



credit problem

The objectives must be defined in time. Each of them must have a deadline. Only then will we know if we have achieved it or not.

In the case of the example we have set, our objective would be: “save 333 euros per month for the next six months for the August holidays”.

As you can see, what we have done has been to define an objective in a more concrete way. Thus, we know what we have to do to achieve it. If we don’t do this previous work, we most likely won’t get it.

A few days ago we told you an infallible saving method, the challenge of 52 weeks . Have you already put it into practice? Tell us how you wear it! And if you are thinking of starting a Smart Savings Plan, you can go to your entity’s office and ask for advice, there may be some product or service that helps you get it.