Opportunity Banka A.D. Novi Sad
Bulevar Oslobođenja 2A
Novi Sad
Tel: +381 21 530 111, 530 024


StepsLet’s summarize

STEP 1: Define your short-term savings goal along with your household members. If you have regular monthly income, divide the amount needed for this goal by 12 – and that’s the amount you need to save up each month in order to achieve your set short-term goal in one year.

STEP 2: For at least a month write down in a notebook all the income and expenses for yourself and your household members. At the end of the month add up all your income and write it down in the Monthly household budget chart. Then subtract the total of all monthly expenses (regular expenses + living expenses) from the sum total of all your monthly income in order to get your final tally, namely the eventual REMAINDER that you can use for your savings.

STEP 3: Now check the part of the chart that pertains to living expenses and consider which items you feel you might be spending on more than needed on a monthly basis. Are those expenses wants or needs, and can they be lowered?

STEP 4: Now, in the monthly living expenses chart, in the column “After revision RSD” write down the lowered amounts for the items you yourself decided need to be reduced due to their share of the monthly expenditures.

STEP 5: Take your monthly income sum total, regardless of the fact if you’ve cashed it in full or deposited it in your bank account, and divide it (on paper or physically) into three parts: 1) to pay your regular monthly expenses, 2) to pay your living expenses and 3) the part you’ve assigned for your monthly savings goal. Divide the living expenses part again into four parts, one for each week, and try not to go over your weekly limit.

STEP 6: In order to avoid situations that might spoil your savings plans, think about your additional seasonal expenses that you need to prepare for and include them in your short-term savings goals.

STEP 7: Continue tracking your monthly expenses, and adjust and change your savings plans accordingly.