Remember, you need to commit fully to this goal. Always transfer your saving money OUT of your account on the day you get paid! – Download a vision board app to add your images to it & look at it every day to inspire yourself, especially when you have to decline a brunch invite one weekend in order to meet your monthly saving target (don’t worry- you can meet your friends at the Happy Hour after the brunch instead!)Ĥ. Stick one board in your bedroom, carry another in your wallet and look at this list it daily to remind you how wonderful the rewards will be! – You can either get some pictures of your goals in Google Images and copy & paste them on a word document (or you can use Pintrest to do this too) and print a few copies out. There will be times where you don’t want to stick to your budget or when you want to eat out for the fourth time in a week, so to keep you motivated to fulfil your goal in 2 years, you should use a vision board. I have always set myself SMART goals with a deadline and this has enabled me to buy a 4-bedroomed house in my home country, a 3-bedroom apartment in Spain, earn my MA in Applied Linguistics & ELT, & live for a year in London- these were all goals I had set myself when I first moved to Qatar in 2011 to begin my expat teaching career. This is vital that you take the time to do this. If 2 years is not enough to save for your house deposit, then perhaps extend your timeframe to 3 or 4 years of teaching abroad? Again, break it down into months and weeks to know how much to save each week, month, etc. This makes your goal seem a lot more attainable. Timed: If you plan to work abroad for 2 years, break it down into months and weeks, i.e. Sometimes, you will be homesick and lonely as an expat teacher, so feeling like you’re broke all the time while you save will probably discourage you from staying and ruin the expat experience! Realistic: AGAIN, this is REALLY IMPORTANT! While you are working abroad, you have to enjoy yourself too by socialising, travelling, etc., so if what you need for a deposit is completely unrealistic in a 2-year timeframe, then either look at a smaller and cheaper property or decide to commit to living abroad for 3 or 4 years instead. Measurable: You can break your goal down and set yourself weekly, monthly, half-year, and annual targets to chart your progress.Īttainable/achievable: This is REALLY IMPORTANT! Look at your monthly salary to make sure your monthly saving allows you to live as well! Specific: You have a specific amount of money in mind. You need to check if this financial goal is SMART, which means that it is: 35% of total property price + taxes + charges). If it is a property, look at the financial goal you have calculated above (i.e. Make sure your saving goal is a SMART goal.Į.g. Calculate 35% of the total property price + taxes + charges- now you have a financial goal in mind!Ģ. You may not go with them in the end but they should give you a checklist to apply for a mortgage. For example, in Ireland a resident needs to have a 20-25% deposit but if you live outside the country, it rises to 30-35%, so speak to your bank’s mortgage advisor to see what they require. What is the approximate price including all taxes and charges? Now find out how much you have to save for its deposit. Narrow down what you are looking for and go onto reputable property websites and research your ideal place. Is it in a city, suburbs, town, village, or countryside?.Is your ideal property in Ireland, in the UK, in Spain, or in Dubai?.What kind of house/ apartment is it? (Is it a maisonette, semi-detached or a terrace? Is it a studio apartment?).
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