GOAL 1: emergencies,

GOAL 2: short-term goals - you want a holiday over the festive season

GOAL 3: medium-term - you want to send a child to university

GOAL 4: long-term - you want to retire comfortably

These are all very different savings goals that you want to achieve over different periods of time.

Step 1: work out how much each of your goals will cost,

Step 2: then calculate how much you can save each month and

Step 3: then calculate over what period of time you will need to save to make it happen.

Download our savings plan template here.

If you are prepared to save this amount of money for this number of months, open a savings account. Save regularly to reach your goal more easily.

Some of these goals are difficult to calculate and the best way to work out how to make these goals happen is by seeing an experienced and certified financial adviser. A registered financial adviser can help you determine which financial products are appropriate for your goals and for certain times in our lives.

For example someone who has just started their first job will need a different retirement product to a person in their 40s with a family. Different financial products are suited to different life stages. Asking for professional financial advice is the first step on the financial planning journey.

To learn more about financial advice, how the process works and what you can expect, please click here.