We all have goals that require significant funds (vacation, major repairs, children’s education, starting a business, retirement savings). And, if finances are not enough, we essentially have only two ways to achieve these goals: saving money or borrowing money.

If a person takes out a loan, he overpays to achieve his goals. Whereas when saving money, a person will pay less, since during the accumulation period you can receive passive income. There are also goals that, as a rule, can only be achieved through savings, such as an additional pension.

So, when you choose a way to achieve your savings goals, it is about taking care of your financial situation both today and in the future. In order to have time to save money for certain events, it is worth starting this process as early as possible and, ideally, also have a financial plan with goal setting, strategy and tactics for achieving them.