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Yesterday I shared the first part as to how to prepare financially for the New Year. Since we are just days away before bidding 2014 goodbye, might as well be prepared for 2015. Even more, the remaining days would be ideal to plan out and more so prepare ourselves most especially with regards to our money and our finances.
Today, we would be talking about Tip 2. And my suggestion
would be to “Create your Financial Goals”.
Create Your Financial Goals
What better way to welcome 2015 with a fresh set of financial
goals. Before we go into detail, let us define first financial goals.
Financial goal is also referred to as financial target.
According to Wikipedia, this is an objective which is expressed in or based
upon money. Basically these are ambitions with regards to our money and our
finances. Since we are about to enter 2015, today would be the best time to
ponder on what could be our financial goals for the next year.
The very first thing you need to do would be to decide for
yourself what financial goals would you like to accomplish next year. Map out
where you want to go in order for you to create a plan as to how to get there. In
order to firmly set it, write it down. When I normally want to achieve
something, I tend to write it somewhere where I can see it almost every single
day. This will remind me every time that those are the things I want to get
done. This is the same with our financial goals.
If you have say for instance a board in your room, write
your financial goals there. If you already have your 2015 planner with you,
write it in the first few pages so that every time you open it, you will know
that these are the things you would want to accomplish for the year. If you
have a cubicle in your office, print out your financial goals and put it in
your cubicle wall. Having a goal will motivate you to do things and do more in
order to achieve it.
If you still don’t have a financial goal in mind, here are a
few suggestions:
- Clear out debt
- Make your first million
- Invest my money
- Build my emergency fund
- Get an insurance
- Build my retirement fund
From there, decide how you are going to reach your goals.
Map out ideas as to how you can be able to realize it. That might be the
hardest part with regards to your financial goals however when you already have
even a hint of solution, at least you will not be lost in the process.
For example, if the financial goal for the year would be to
clear out debt and get rid of it, decide how you can make that happen. This will
also be a good assessment of your financial health. Is your salary enough to
cover the entire debt? If not, perhaps one good way to go about it would be to
increase your income. So that by 2015, you might consider getting a part time
job in order to help with the payment.
Another example, if the financial goal is to invest your
money by 2015 identify the kind of investment you would to get started. Do you want
the investments offered by banks or via online? If banks, what are their
requirements so you can inquire as early as now and have those requirements
ready when you open your account. Same thing with online investments. Even more,
if you don’t know yet how to get started, it would be best that you get to read
related resources in order to educate yourself more in the process.
Your finances would be as good as your goals. That is why,
it is always ideal that you get to know what are your financial ambitions for
2015 and work in order to achieve it.
P.S. My very first e-book is finally here. You can buy it using the Buy Now button at the right or via bank deposit. Only Php 150.00. Purchase your copy now.
P.P.S To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 52 already! Did you deposit the next amount yet?
P.P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.
P.P.P.P.S I am also sharing my stock market secrets and information via these resources.
P.S. My very first e-book is finally here. You can buy it using the Buy Now button at the right or via bank deposit. Only Php 150.00. Purchase your copy now.
P.P.S To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 52 already! Did you deposit the next amount yet?
P.P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.
P.P.P.P.S I am also sharing my stock market secrets and information via these resources.