When you need to save money quickly, a stretch goal can help get you there.
Have you ever needed to save for something quickly?
For example, say your car is long overdue for replacement, and you’ve reached your breaking point. Under ordinary circumstances it could take a year to save for a sizeable down payment, but you decide you’re willing to implement budget changes and lifestyle sacrifices to make it happen faster.
That’s a stretch goal—an ambitious savings target that requires sacrifice and discipline to achieve.
Reaching a stretch goal is no easy task, but here are four strategies that can help make yours a reality.
Whether you’re saving for yourself or want to spend the money on someone else, try the above strategies when you have a specific financial goal in mind. Staying focused and making short-term sacrifices are the best ways to make your stretch goal a reality.
You can add a special savings account to your existing WKFCU account in the drive-thru. There is no additional fee to open the account. Use payroll deduction to have money automatically go into the account every pay period.
View All Rates
*APR = Annual Percentage Rate
*APY = Annual Percentage Yield
Rates are subject to change without notice
Read Our Newsletter