Save a Million Dollars – Calculator
So now you know when you are going to be a millionaire. But if you are currently looking for ways to simultaneously save money for the future and pay off debts, this may be a long time away and seem like an impossible and unrealistic goal.
When it comes to setting financial goals, your goals should be SMART – specific, measurable, achievable, realistic, and timely. Your goals can be categorized by short, mid, and long-term goals. It’s important to realize that a saving a million dollars is not a feasible short or mid-term goal. Download ACCC’s free financial workbook here for a full financial goals worksheet as well as worksheets on everything from daily expense tracking and bill paying to household inventories, bank account comparisons, and credit card debt to income ratios and credit card option comparison.
For more advice on saving for a goal, check out this Talking Cents blog post and use ACCC’s saving for a goal financial calculator to help you determine how much you should save on a regular basis to help you reach your goal in a timely manner.