Do you have an item on your bucket list that exceeds your budget? There are a multitude of rewards to be had for those willing to enjoy delayed gratification. There’s nothing like a debt hangover to zap the joy out of a vacation or new purchase. With a few strategies and a little advanced planning, you can enjoy that item on your bucket list without reaching for your credit cards.  Follow these recommendations form the professional financial planning gurus and you’ll soon be on your way to enjoying that item on your bucket list.

The key strategy is advanced planning. Your goal is simple. Set a dollar amount to be accumulated and the date by which you would like to have reached it. Divide the amount of savings needed by the months, or even weeks, remaining to reach your goal date. This is the sum that needs to be accumulated each week or month. To reach your financial goal, be prepared to exercise a degree of self-discipline and delayed gratification. Examine your discretionary spending habits. After your fixed costs have been met each month, rethink those smaller amounts you spend each day. When annualized, these can result in substantial sums. That designer cup of coffee and lunch at restaurants with coworkers can add up to several thousand dollars each year. Bring your coffee from home as well as a bagged lunch. Earmark your savings to your bucket list savings goal. Rethink monthly internet and music subscriptions and earmark those funds towards your savings goal.

Take advantage of the huge savings offered by Groupon coupons when shopping for gifts. When you need to purchase gifts on a budget, snag a  company registration Latvia and save big bucks on a terrific selection of gifts sure to please anyone on your list. Grab a friend and shop at warehouse stores. Split the items you purchase that are in large quantities. Forgo vacations and expensive restaurants until you have met your goal. Cooking and entertaining friends at home can result in just as memorable an evening as hitting the town for an evening.

Finally, remind yourself of the benefits of paying cash for that item on your bucket list. Following these short term savings tips will allow you to avoid the dreaded debt that will ultimately rob you of the pleasure of that item on your bucket list. Best of luck to you!

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