The New Year is upon us and that means it’s time to review your monetary strategies. If last year left you with much to be desired, then right now is the perfect moment to implement a different plan. Want to start your financial year off right? Continue reading for our post for tips on the 2017 plan.
What was last year’s problem?
Of several people polled, the biggest issue people had last year with budgeting was not having a strategic plan. Sure, they understood that saving money was, generally, a good thing. Additionally, everyone found ways to increase their income. However, every month was filled with ups and downs; because, there was not a rock solid approach on how to deal with their finances. To start your financial year off right, you need to be intentional with your monetary actions. And that takes us to our next point.
Does your household need something? Are you currently stressed by your financial situation? 2017 marks the chance for renewal and it starts by, ironically speaking, stopping. You have to stop putting things off; and turn that need for a better money solution, into actual goals. Check out the next section on how to set them.
How to set goals to start your financial year off right:
1. Clearly define your goals. What is it you need to accomplish in 2017?
2. List them out. First, talk about them. Then, get them in order. And last, write them down. Make your goals an actual expression instead of keeping them locked inside of your head.
3. Be specific. Give the details with actual deadlines and dollar amounts. Avoid being vague by just saying, “save money.” If you want to start your financial year correctly, you will have to have precise goals such as save $500 by March 31st.
4. Pick only 4. There are 4 quarters in a year. Use each quarter to work up to the next goal. This will keep things manageable; as well as, allow you natural amounts of time to change your financial lifestyle.
Research a strategy.
Once you have your goals in place, take a few moments to strategize. Whether you’re researching how to avoid unnecessary college debt, or consolidating through a home equity loan, gather all the information you need to carry out your plan. This is the part that is going to need the most of your gumption. Research a strategy to carry out your goals and stick to it.
Another way to create a strategy is to meet with one of our Wealth Advisors or Certified Financial Counselors. When it comes to building and preserving your accounts, let us guide you in the right direction. Achieva Wealth Advisors have the knowledge, resources and experience to help you make sound investments.
Say, “Hello,” to 2017 and to a great financial year!
That covers it. We’ve defined 2016’s problem. We urged you to stop procrastinating. And, on top of all that, you now have an awesome list on how to start your financial year off right. Don’t forget to use our Wealth Advisors resource to it’s full capacity. This year is going to be great, and your accounts will thank you for it!