The first step in setting a savings goal is to assess your financial situation. Consider the following questions: - What are your monthly expenses? - Do you have any outstanding debts, such as student loans or credit card balances? - Are there any large upcoming expenses, such as certification fees or further education costs? - What are your long-term financial goals, such as buying a house or retiring comfortably?
By answering these questions, you can get a clearer picture of how much you need to save and over what period.
