25 things worth saving up for: #9 will surprise you


Written by:

Each of us has our own agenda in terms of what makes stashing our cash away worthwhile. For some of us, it’s the anticipation of doing something fun or buying something beautiful. For others, it’s all about using our cash to secure some quality of life and peace of mind.

Regardless of what gets you saving, you’ll look forward to snagging that reward. You’ll deal with a bit of deprivation to get to your goal, whether you’re stashing funds to buy a new computer, a used convertible, or cool new shoes. And even if what you’re working towards isn’t so fun (think retirement funds to ensure your future), you’re bound to be honing your saving skills. You’re likely boosting your financial wellness as well.

Here, learn more about how to save for items that are well worth your time and effort. Plus, we’ll share 25 ideas to inspire you to amp up your savings account.


Related: How Much of Your Paycheck Should You Save?


Image Credit: Zinkevych / iStock.

Why Saving Is Important

The importance of saving cannot be overstated; it’s a very big part of successful money management. Consistently putting away cash can make a major difference over time, especially in your quality of life. By planning and prioritizing what expenses to fund, you’ll have the means to achieve your goals. It’s incredibly rewarding when you make a plan for your money and then realize it.

To jump start your savings, try one of these creative strategies for turbocharging your savings.

  • Budget first. The mere mention of the word budget can stress some people out, but a budget is simply a plan for how you will spend your money. Having a strategy in place can really help keep your spending and savings on track. There are a number of methods you can use to budget, including the good old cash envelopes system and the 50/30/20 rule, as well as a number of mobile apps. Research your options online, and find the one that works best for you.
  • Automate savings. One of the easiest ways to ensure you’re saving toward your goal may be to automate it. This can take much of the stress out of saving. For instance, you could set up an automatic bank transfer from your checking to your savings account every payday.
  • Save consistently. Over time, you have a great chance of meeting your goal. Maybe it’s only $5 or $25 a pop, but contributing to your savings account regularly is vital. Be consistent and trust the process.
  • Save bonuses, tax returns, and other unexpected windfall amounts. These extras can give your savings account a tremendous boost.
  • Match your own purchases. For every amount that you spend on a treat, transfer that same amount into savings.
  • Save every $5 bill. By setting aside every $5 bill you encounter (as change from a purchase, from an ATM, etc.), you can save quite a bit in a year’s time.
  • Use the 30-day rule to control impulse purchases. Write down that shiny new thing you want, whether it’s a pricey new mobile phone or a designer bag, and wait 30 days to see if you still want it. You may find that your urge to spend on it has passed. If so, you can put the money you save this way into savings to fund something that’s on your wishlist.

Image Credit: DepositPhotos.com.

25 Smart Items to Save Up for

Spending money according to your own personal preferences — whether it’s a vacation, a new car, or a comfortable home for your family — should be the driving force behind your saving goals. This is how to make saving fun: Make a list of cool things to save up for. Create a vision board if you prefer; the idea is to entice yourself to perhaps pass up some unnecessary spending (takeout meals, a multitude of streaming services) and achieve those things you really crave.

Not sure what to start saving for? Here are 25 ideas to get you going.

Image Credit: .

1. Vacations

You may have heard that vacations are good for both your physical and mental health. Even the act of looking forward to a vacation can improve your happiness. Whether the vacation you crave is a week at a nearby beach, a long weekend with your college besties, or a jaunt through Europe, the prospect of travel can be great motivation to save money.

Image Credit: DepositPhotos.com.

2. Brand New Electronics

Buying new electronics isn’t just a leisure pursuit. New electronics can help with your productivity and ability to earn an income (or a higher one). It may be worth it to you to save for and invest in tools, such as a new laptop or video equipment, that can make your life better.

Image Credit: Michael Krinke.

3. Starting a Business

If starting a business and becoming your own boss is a dream of yours, savings can go a long way toward making it happen. In fact, out of businesses that fail, 38% say it’s because they ran out of cash. Start accumulating capital so you can hopefully avoid becoming part of that statistic.

Image Credit: DepositPhotos.com.

4. Investing in Real Estate

Want to invest in real estate? Whether it’s a REIT (real estate investment trust), a rental property, or other type of vehicle, you’ll need some cash to get started. Directly owning an investment property, for example, means you may need 15% for a down payment on a conventional loan.

Image Credit: shironosov/istockphoto.

5. Weddings

This is a popular motivation to save. Most people dreaming of their big day know that it doesn’t come cheap. The average cost of a wedding in 2021 was $28,000, according to one survey. Saving for this expense means you can celebrate the special day with loved ones, just the way you want to, while minimizing money stress.

Image Credit: DepositPhotos.com.

6. Investing in Index Funds

Many people dream of having a financial portfolio that pumps out earnings. Index funds may be able to help you create a diversified portfolio at a low cost. Putting money in an investment fund can help you make your money work for you and achieve your financial goals.

Image Credit: nortonrsx.

7. Brand New Car

Most people need wheels to get around, but cars aren’t just about function. Maybe you are dreaming of a low-slung sports car or an SUV that’s ready to offroad. When you get the keys to a new car, you’ll likely know that your time and energy spent saving was worth it.

Image Credit: RyanJLane.

8. Down Payment on a Home

Saving for a home is a top priority for many and for good reason. The typical homeowner who purchased a property just five years ago would see a $144,000 increase in their net worth. Aside from the potential financial benefits, owning your dream home is a major boost to your and your family’s quality of life.

Image Credit: DepositPhotos.com.

9. Clothing and Shoes

There’s something about fresh clothes and shoes that can give you a psychological boost. For a household, costs averaged $1,434 for apparel for the year. Saving a little toward making yourself look good is one of the fun things you can save up for. It could be a whole wardrobe upgrade or a special splurge piece, but clothes can be excellent saving motivation.

Image Credit: BlackSalmon/istock.

10. Hobbies

If there’s something you enjoy doing in your free time, be sure to save enough money to fully invest yourself in the activity. Do you want a new acoustic guitar or perhaps a pottery wheel? Save for it. You may even be able to monetize your hobby or start a business from it.

Image Credit: DepositPhotos.com.

11. A Quality Mattress and Mattress Accessories

According to the CDC, one out of three Americans don’t get enough sleep. Being deprived of sleep can have a major impact on how you feel and function. Which is all the more reason to save for the comfiest mattress you can find.

Image Credit: Ratchat / istockphoto.

12. Exercise Equipment

The right exercise equipment can help you make your health a priority and work out regularly. It’s not cheap, though. Equipment can cost as little as about $20 for a kettlebell or thousands for a top-of-the-line rowing machine or Pilates equipment.

Image Credit: Maridav / iStock.

13. Professional Lessons (Sports, Dancing, Cooking, etc.)

Whether you want to dance more smoothly or perfect your golf swing, saving toward developing those skills can bring a lot of joy and satisfaction.

Image Credit: Petar Chernaev.

14. College

So many people feel the thrill of pride and achievement when earning a college degree, and it can help fuel a career. But college costs are up 169% since 1980 — and there’s no telling how much further they’ll go. Saving toward these expenses, whether for yourself or your dependents, can help them get the education they need and dampen the blow of the cost of education.

Image Credit: DepositPhotos.com.

15. Quality Home Appliances

Maybe you’d like to remove that old eyesore of a dishwasher and replace it with a top-notch new one, or swap out your old washer/dryer for an eco-friendly new model. Or, say, a professional-grade stove is calling to you to live out your gourmet dreams. Once you get the appliance you were dreaming about, you’ll likely feel that saving for it was worthwhile.

Image Credit: LightFieldStudios/ iStock.

16. Home Security

While it may not exactly be a cool thing to save up money for, a home security system can give you amazing peace of mind. As a bonus, you may have fun doorbell footage to post on social media once you buy your system.

Image Credit: Depositphotos.

17. Jewelry

If you love shiny baubles, they can certainly be worth saving for. Maybe there’s a dream piece you’ve been pining for. With the cost of some custom jewelry ranging from $2,000 to $30,000, you’ll definitely want to have a plan to save for it.

Image Credit: theprint / istockphoto.

18. Home Furniture

If you value updated and stylish furniture, you’ll want to put it on your list. New furniture can uplift the comfort, function, and look of your home. Not to mention, when (or if) you sell your home, it can possibly help your place fetch a higher sales price.

Image Credit: DepositPhotos.com.

19. Events & Special Occasions (Concerts, Dinners, Sports Games, etc.)

Many of us look forward to making lifelong memories at special events, from a Stones concert to the Super Bowl to a local gala. These occasions can both entertain and help you feel connected to the people who accompany you. Indulging in tickets every now and then is an incredibly fun and cool thing to save up for.

Image Credit: DepositPhotos.com.

20. Home, Car and Health Insurance

Putting money toward insurance premiums may not always be fun, but it may give you peace of mind. It helps you know that you’re covered in case of accidents, unexpected health problems, and natural disasters. Saving up to afford a policy is wise if you are, say, planning to buy a house or car or are prepping for a big live event, like marriage or becoming a parent.

Image Credit: SolisImages / istockphoto.

21. Retirement

Saving for retirement is a critical part of your financial health. A Federal Reserve survey found that only 36% of workers felt their retirement savings were on track. If you want to give yourself a healthy cushion for some of the most vulnerable years of your life, you may want to add to your retirement savings. While it doesn’t give you a tangible payoff now, you may rest easier knowing you’re prepared for tomorrow.

Image Credit: adamkaz.

22. Anniversaries

Have someone (or something) special you want to celebrate? Put aside some money to do it up right, especially if it’s a nice round number that’s coming up. It’s up to you whether the funds go towards a gift, a trip, or a special night out with friends and family.

Image Credit: DepositPhotos.com.

23. Repairs and Remodels

Home improvements can make your home more comfortable and functional but they are likely a major expense. With the average remodel topping $47,000, it will take quite a chunk of change to make it happen. Saving for this type of cost can help you turn your place into the showplace you know it can be.

Image Credit: David Shao/istock.

24. Birthdays

Celebrating birthdays is a fantastic way to nurture the relationships in your life. Maybe it’s with a candlelit dinner or tickets to a show, but it can be a great excuse to save and then spend some cash.

Image Credit: DepositPhotos.com.

25. Holidays

Creating holiday memories is important for many of us. Saving up for the holidays and seeing your vision for your family come to life can be incredibly rewarding. A Gallup poll found that Americans plan to spend around $886 on Christmas gifts each year. On top of this, Americans are spending $231 on things like decorations and food and another $118 on other purchases. Stashing some cash in advance can help alleviate stress during the most wonderful time of the year.

Image Credit: DepositPhotos.com.


How can I develop the mindset to save long-term?

To develop a mindset to save for the long term, be sure to start with a goal. Brainstorm some cool or vital things to save up for. Then, automate regular transfers to your savings account. If you don’t see that money in your checking account, you likely won’t spend it.

Is saving money long-term hard?

Saving can be hard, and even a small amount stashed regularly can make a big difference in your financial wellness. The Federal Reserve reports the average household saving rate in early 2022 was 5%. It may not be a huge amount, but it can be a good start.

How do I make saving money easier?

Saving money is easier when you have a plan in place. Automating money transfers to your savings account when your paycheck hits is one easy way to start saving towards something fun. You can also experiment with different budgeting methods to help “find” more money to put into your savings.

Image Credit: Extreme Media / istockphoto.

The Takeaway


Focusing on a wish-list item can give you the motivation and discipline to start saving. Of course, the goal will vary with each person. One person may want a trip to Bali, another may need a new car, and a third may be focused on getting a down payment together for a home. Whatever the goal, saving for an important purchase can be a great way to build your financial skills and elevate your quality of life.

Learn More:

This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.

SoFi Checking and Savings is offered through SoFi Bank, N.A. 2022 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.

SoFi members with direct deposit can earn up to 1.80% annual percentage yield (APY) interest on all account balances in their Checking and Savings accounts (including Vaults). Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. Rate of 1.80% APY is current as of 07/26/2022. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


Image Credit: Peera_Sathawirawong / istockphoto.

More from MediaFeed

What happens to your debt when you die?

Image Credit: DepositPhotos.com.