When starting to build a house deposit or retirement nest egg, a large figure of several thousand looming at the end as the target can seem daunting. But ING senior economist Ian Bright says in a new video for eZonomics, breaking down the target into smaller, manageable savings chunks can help.
Rule one: Don't delay
Bright outlines seven rules to follow when saving for a long-term goal.
“First, don’t delay. The earlier you start, the sooner interest rates will start working for you,” he says.
Bright spells out his full list of seven rules for saving for a long-term goal in the video.