Savings goals for all ages

We have already seen together some indications on how much you should have saved, depending on the age group you are in.

Today we combine the reasoning on savings by age group with a topic that we have learned about together: the importance of setting ourselves goals.

The purpose? Planning, a concept of which we have learned even more importance in the past year. Our age group goals, as we know by now, must be realistic in order to have a chance to be achieved.

So let’s see what they can be, divided by age groups: ready to take note?

As children

It is well known that children tolerate impositions badly : so why not make saving a challenge, a game? From the educational kits of the Savings Museum we can learn one thing: children are curious, why not show them what lies behind their desires in terms of prices?

The first thing to do is therefore to engage in discussions and small games with them . The next step?

Make a list of possible macro-goals and how to achieve them.

One way to allow the child to do this can be pocket money : to educate him on the value of money, an idea could be to have small chores done at home, with a commensurate reward.

Here are some examples you can take inspiration from:


  • to be able to buy that game they want
  • to be able to put aside what you need (making a list together: bowl, kennel …) to welcome in the house the little dog that your child can not wait to see arrive

You can set a monthly goal in the first case and quarterly in the second, unpacking their pocket money according to the chores they help you to do, so that they arrive after a month and after a quarter: 7/10 € to be reached every week, which can get by doing these chores:

  • clearing the table : 2 €
  • helping to mow the lawn : € 5
  • hang out the laundry : € 3
  • wet the flowers : 2 €

… and so on: there is no limit to the possible goals and ways to achieve them, you are spoiled for choice!

As teenagers

You know: university can be the age when you start earning your first money with small jobs. You don’t necessarily have to have huge goals, since that’s also the age when you start spending the most money on going out with friends.

A possible goal, however, may be to be able to set aside at least 5% of what was supposed to be spent .

Whether it was an outing with friends or, when it comes back, a vacation to plan all together, giving yourself a rule of this type can help you keep costs down and save for what you want, but also for a bigger goal, like help pay for university expenses. Thus, you will begin to feel more independent.

Here’s what you could do: find a zero-expense checking account, and then set the 5% savings rule every month.

Can’t imagine where you could go in 5 years ,if you start now, with this savings goal?

  • let’s say you set aside 5% of 500 euros per month every year

5% of 500 = 25 x 12 = 300 euros per year , x 5 years = 1500 euros

  • and if we raise the bar? If you set aside 10% of 500 euros per month you will have

10% of 500 = 50 x 12 = 600 euros per year , x 5 years = 3,000 euros

Not bad, don’t you think?


At 25-30 years old

It is the age of the first job and the first salaries .

Of course, maybe you’ve finally managed to go live alone, so expenses have started to increase too. The habit of saving acquired as a child and maintained as a teenager, however, will help you calculate a fixed quota that you can set as a weekly savings goal .

How to get there?

But of course thanks to a monthly budget , which you can no longer really afford not to do!

In this way, you will start from your annual numbers to unpack them on monthly savings targets and thus set the Smart Rule linked to a fixed weekly recurring .

Want to know what your annual savings target should be?

Many experts quantify it as 10% of your annual salary .


  • € 20,000 in salary: € 2,000 set aside for each year of work    
  • € 25,000 in salary: € 2,500 set aside for each year of work    
  • € 30,000 in salary:   € 3,000 set aside for each year of work

If you haven’t gotten there yet, don’t be disheartened – you can start right away!

When you have a family

You are no longer alone: ​​you have a family, so the joys but also the expenses multiply!

First of all, the budget must be rethought to meet the needs of the couple : it is the age of shared decisions and saving together can make you an even more united team.

A goal for this age group can certainly be to think of a fund for rainy days and an emergency fund : here you can find the formula to get there , the important thing is to understand how fundamental they are for your serenity.

To protect everyone’s future and not be caught unprepared by money-sucking emergencies, you can do this: set up a Smart Rule for each of you linked to one of the two funds , in order to divide the savings burden.

To this you could add:

  • pension plan each;
  • savings plan for your children, so that they reach college age with savings aside;
  • plan for whims : if you are tired of dreaming of that holiday, why not set up savings right away for when it will be possible to go there again?

Decide together how much to put aside, keeping in mind the realistic objectives we were talking about at the beginning: start with everyone’s salary and calculate a figure that does not weigh on your present and helps you to give wings to everyone’s future!

To get an idea of ​​how much you could put aside overall, remember that :

the rule, if you have reached the age of forty, is that you should have set aside an amount equal to three times your annual salary .


  • if you have a salary of, say, 25,000 euros each : you could have set aside 75,000
  • euros each over the years;
  • if you have a salary of, say, 30,000 euros each : you could have set aside 90,000 euros each in recent years;
  • if you have a salary of, say, 40,000 euros each : you could have set aside 120,000 euros each over the years;

What if you haven’t gotten there yet?

We know that there can always be a difference between estimates and reality, the important thing in this case too is to start!

When retirement approaches

There are many actions you can take to prepare for retirement after age 50 .

If you get there after years of saving, the important thing is not to think about giving up, but instead implement your goals.

So, if you have managed to set aside a figure equal to four times your annual salary , you can set yourself the goal of continuing to integrate it continuously.

How? Now that your children are older and you no longer have to continually care for them:

  • you could increase the amount you pay into your pension plan with a range from € 1,000 to € 5,000 per year;
  • you could add a new savings plan of 100-200 euros per month to those you already have.

It’s time to put your foot on the accelerator of your savings: you will benefit from it in everything you can do, when you have plenty of time to enjoy it!

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