New Year resolution goes deeper than just tradition. It re instills hope in us that we can still work to grow and improve ourselves and our lives. So what better time than now to choose a goal and plan for 2019? Here’s your chance to step up your personal savings goal this year. We have broken down a few rigid financial goals into more attainable milestones – kick-starting the journey of a thousand miles simpler and smarter.
Start budgeting early
No major in economics is needed to map your cash flow activity. There might be a million reasons to choose not to budget, but truth be told, a budget tool is as good as a fitness tracker. All the budgeting strategies will pay you off in future. Before you commit yourself to stick to a budget plan, track your budget. Identify spending leaks and get it fixed. Make sure your hard earned money is going toward the expenses that matters most to you.
Should start saving and making financial investments
Investment may be something that hasn’t been on your radar for years. Everyday bills might have your hands cuffed. But, if you can manage to scrape together the pennies you put in your piggy bank, you will be all set to create a healthier financial picture in the years to come. Remember, it takes more than simply earning money to count the extra rupees.
Compiling a goal plan
It’s not uncommon to find people to save and invest their hard-earned money & give up mid-way; often, the reason being financial goal plans with loose ends. You don’t have to foresee the future to solidify your financial plan, but when you have a precise goal, the returns you need, and the variability you can afford in each case becomes clear.
Stop going into debt
If you see your credit card as your saviour as you near the month end, my dear folk, you need to re-evaluate your financial performance. Protect your finances from uncertainty and monitor the inflow and outflow of cash periodically to avoid financial fear slowly creeping up. Reconsider your financial mistakes, and strive to perform better this year.
Replace to-do lists with calendar
Map a date to start following your resolutions so that you have enough time to adapt yourself to these resolutions and you really follow them. Use your calendar wisely – it reflects what’s truly important to you.
Key takeaways:
Set achievable financial goals – both short and long-term. Start tracking your budget. Revisit your financial plan often.
