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If you find that saving the required amount each month is challenging, it may be time to track your expenses. By understanding where your money goes, you can identify areas where you can cut back. A commitment to reducing discretionary spending can help bridge the gap between your income and your savings goals.
Monitoring Your Progress
Regularly review your savings progress to stay motivated. The spreadsheet will automatically update to show how much you've contributed and how much remains to reach your goal. Celebrating each milestone along the way, such as reaching $5,000 or $7,500, can provide positive reinforcement.