Five Small Financial Goals To Make In 2020
Jan 11, 2020
They are many financial goals that you could have, but these small financial goals will set you up for a great start in 2020
Unfortunately, most people break one of their New Year Resolution by January 15th. There are many reasons why this happens. People set unattainable expectations when they set those resolutions. Also, they don't make a plan on how they are going to achieve them. They don't have a deadline, making the goal too far in the future. And they are not specific on the resolutions.
This is why, I don't make resolutions, but set goals. I also, add or adjust the goals based on what I want to accomplish, and create a plan, and set a deadline on how and by when I am going to attain the goal.
One of the most important goals that you sure carefully set is financial goals. Why? Because this will affect the rest of the goals, and will highly affect your future.
Therefore, here are 5 financial goals that you should implement in 2020.
If you do this, I can assure you, you'll be way ahead of your financial fitness this year.
- Pay yourself first- The first hour of work of each day should be to pay your future self. Make sure to separate an amount of money that will allow you to become financially independent.
- Create a Spending Plan- A lot of people think that creating a financial plan, a budget or a spending plan is too restrictive or it doesn’t work. But, people that fail to plan, plan to fail. If you appreciate the money that you make, you have to give it a purpose, instead of just spending it unconsciously. You have to be intentional about where your money goes, and that is the purpose of a budget.
- Get Rid Of Debt- we have been lied to, there is no good debt, at least not in a long term. Therefore, get rid of debt as soon as possible. However, do not sacrifice paying yourself first when you are aging your debt.
- Grow Your Money- This one is connected to goal number one. When you pay yourself, you want to put your money in places that give you a rate of return at a low risk. You want to be able to not just work for your money, but also make money to work for you even while you sleep. Find places where you can grow your money.
- Automate- This goal connects with all of the other goals here. Automate your bills, your savings, your investments. People think that by paying their bills themselves, they have control of their money. This is a fallacy, you don’t. When you automate your bills and your savings, you will not see that money as it will be going directly to those things and it will help you to live below your means and above all, you will not miss or spend on other things.
I hope this helps to have a great 2020 start. Are you ready to make a difference this year?
One of my goals this year is to make a bigger impact by empowering more women to take charge of their finances.
For this reason, I am offering a complimentary Financial Freedom Analysis ($450 value) and I would like to extend it to you. Just contact us...
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