Tips for short/medium/long-term savings goals

People’s lives are like a journey, and they have to set their destination goals which is the same as setting goals for saving money. ACU PAY will share savings tips in three phases, whether short, medium, or long-term, you can plan as follows;

A plan for saving

Financial goals are like key determinants in determining what we want to achieve. To be successful, we need to have a clear financial goal. We can use the SMART principles to help us set good goals. Good goals need to be specific, measurable, achievable, realistic and timeless, which will help us set our goals more clearly and motivate us to reach them.

Financial goals are divided into 3 terms as follows:

  1. Short term goals (not more than 3 years)

    The short-term goal is to save money in less than three years, so it’s often a plan that doesn’t cost much and can help respond to happiness or solve immediate problems such as spending money on vacations with family, and loved ones or buying small happiness for yourself, including a savings for an emergency fund within 3-6 months.

    The savings method suitable for the short-term goal to begin with will be free of long-term commitment and can be used to meet the target. A conservative investment portfolio, investing in low- to medium-risk assets with liquidity, such as savings accounts or money market funds is recommended.

  2. Medium term goals (3-7 years)

    Mid-term targets are like other savings we need to proportionately. These goals are what we want to achieve over the next three or seven years, such as getting married for the next three years, buying a car, or buying a house for our parents. This savings is the money we want to use shortly and need to have a large amount of it.

    In the medium term, we do not need to use such funds at this time, so we can save money or invest in ways other than savings deposits, as anyone who does not like risk can open a 24 or 36-month tax-free fixed deposit account to save on a regular basis. Investing in medium-risk portfolios such as fixed-income funds or hybrid mutual funds for long-term speculation or dividends is recommended for those who can take risks and want to invest for a higher return. It is recommended to choose a confident investment strategy so that you won’t lose principal and have money to meet your target.

  3. Long term goals (7 years onward)
    It is a savings goal that guarantees life stability and requires a long period such as planning retirement savings. The way to save money for long-term goals is necessary to divide many parts into savings or invest at different risk levels to diversify risks. Medium to high-risk investment portfolios are recommended, such as RMFs and SSFs, which focus on long-term savings for retirement, stock dividends, equity funds, or gold. In addition, life insurance or saving insurance covers medical expenses and gets money back at the expiration of the contract.

Example of a savings plan.

The proportion of savings may be based on the 50-30-20 office workers’ formulation, with at least 20% of that salary turning into savings for different periods of time.


For example, if we have a salary of 35,000 baht, divided for savings at  20% (7,000 baht) according to our short-term, medium- and long-term financial goals, the savings can be divided into 3 parts as follows:


  • Short-term goal: save 20% of emergency fund (1,400 baht) 

In case of illness or unemployment, three to six times the monthly expenses are kept in a high liquidity position such as savings accounts.

  • Mid-term goal: 50% saving for master’s degree (3,500 baht) 

They may choose to invest in medium-risk investment portfolios, such as general fixed income funds.

  • Long-term goal: Retirement savings of 30% (2,100 baht)

They may also choose to invest in RMFs and SSFs that can exercise tax deductions.

In this regard, the proportion can be adjusted depending on the individual’s goals.

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