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Step two: Looking ahead - where do I want to be?

"My goals?  Well, short term I'd like to fix my car so it doesn't feel like it's about to take off on the motorway. Long term, I'd love to take my partner to Samoa. Now I have to figure out how to do both ..."  Nicci, Account Co-ordinator

Honeymoons, holidays, new car, kitchen renovations, kids' school fees ... everyone's goals are different.  It's important to structure your budget so you're able to cover off immediate costs - like car repairs - while saving for long-term goals, like buying a house.

Step one: Getting started - where am I today?

You've collated all your expenses and worked out your budget.  Now it's time to think about what you're saving for. 

Click on the below links for Westpac's tips on how to save for specific goals:

Are you planning to buy a house?

Are you moving into a new flat?

Are you starting your first job?

Do you want to buy a car?

Are you studying?

Are you heading overseas or on holiday?

Are you getting married, or planning a family?

Think about these goals in monetary amounts.

Calculate how long will it take

Click here to calculate how much you will need to save to achieve your goal.

Simply fill in the fields for a quick-fire calculation on how much you'll need to put aside per fortnight to achieve your goal by a certain date.

Watch the video

Click here to watch Nicci, Marina and Rae discuss their budgeting tips.

Talking Money Sense budgeting links:

Step three: How can I make sure I stick to my budget?

Click here for Westpac's online budget tutorial.

The content of Talking Money Sense is general in nature, is designed for information purposes only and is not intended to constitute financial or other advice. Information is subject to change. Westpac New Zealand Ltd.