The key to establishing goals is to create a habit out of them. Every year, spend some time to figure out the goals that you want to achieve for the next year. Here are some realistic and attainable financial goals for 2019:
1. Create a budget – and stick to it
Everyone loves budget but not all are good at following them. You might’ve heard this thousands of times before but you have to set your own budget! Regardless of how much you earn, setting a budget is vital. Budgeting is the best defense you have to control all your finances. Your budget will serve as your guide, or financial responsibility and accountability. This isn’t the most exciting thing to do but creating a budget for yourself will help you practice discipline. When talking about ways on how you spend and use your money, discipline plays an essential role. For example, do you know the exact amount of money you need to allocate for your necessities compared to how much you’re planning to place in your savings? It’s going to be hard to create long term finances if you have no idea of the clear picture. Your budget will be your entryway toward financial freedom.
This list is brought to you by Perfect Payday. We are a payday loan company that can help you get quick funding. if you are experiencing a financial crisis and have a job. Apply with us today if you need a quick loan.
2. Setting saving goals for yourself
You should set saving goals that are realistic and attainable. For example, for every paycheck that you earn, set aside 10% of it for your savings – nothing too demanding or aggressive. Take note that the higher the amount of money you save today, the more savings you will have in the future. Also, it is important to remember that you should put your money on your savings first, then pay the rest for your expenses. If you put your savings first, it will never be left out.
3. Settle all bad debts
Another important financial goal apart from investing and saving is paying off every bad debt that you have. Bad debts are the type of debt that hold extremely high-interest rate, such as 15-18% and higher, usually found on credit cards. Settle and eliminate all of these debts if you want to achieve financial freedom and gain control of your finances. When there are bad debts, good debts also exist. This is the type of pf debt you obtain when you are investing in something that’s intended to become an asset that will provide an exceptional return. For instance, if you borrow a certain amount of money and use it to renovate your house that will become a good debt since it will have a great return on investment.
4. Examine your credit report
Kick-off your year on the right track by knowing your credit score and the vital factors that impact it. In the case that your credit score is lower than you expected, spend some time and effort to enhance it. Settle all your debts and maintain a low balance on all your credit cards in order to achieve an excellent credit score. Moreover, you should also avoid financial activities that will damage your credit score. Like for example, when you take out a car loan, there is a tendency that credit reporters will reduce your score. This being said, you should be cautious when you perform a credit check if you are planning to purchase something. See to it that they won’t interfere or decrease your credit score.
5. Manage your taxes as early as possible
Whether you like it or not, you eventually need to manage your taxes. Every year, most people follow a bad habit of waiting up to the last minute before organizing their taxes. Protect yourself from frustration and stress this 2019 and manage your taxes as early as you can. Prepare your tax documents and process your tax right away, don’t let the agency put you in another nightmare.
6. Spend some time and do your research
This year might be the year for incredible deals on many amazing companies. This is why saving and organizing your finances is very essential – in fact, it is vital. When the market descends, you want to take advantage of all the good deals and fantastic sales offered by different companies. With this, make it your goal to list down at least 5 companies on your wish list for the next year.
Are you on Centrelink income and need to borrow money? If so, consider getting a Centrelink loan from Perfect Payday will get you the funds you need. We consider Centrelink as income to get you a payday loan.
Setting financial goals for 2019 will help you manage your finances in an effective way. It will give you a clear direction towards securing financial freedom. No matter how many paychecks you receive, it doesn’t matter because these goals are applicable to all.