Positive Life Hack: Financial Goals 

giphy-5

From what I can gather from tweets and Twitter polls, 2016 is the year in which many of us will make better monetary decisions, spending what we have and making a more conscious effort to save.

Like anything being financially savvy takes determination and willpower. Personally I’ve found that having a long term goal, helps you realise the bigger picture. In order to see progress it’s all about setting yourself achievable goals, that help to motivate you to continue.

It’s early stages in terms of keeping to our 2016 targets and goals. Yet I hope you’ve started as you wish to progress. But if you haven’t, not to worry. To help you stick to your monetary goals I shall share some researched tips alongside some from my own experience.

First up, it’s important to remember why you’re doing it. I find that this helps to keep focus. Whether you are saving for your future, a deposit on a house/flat or a brand new car this will help to keep you focused. Because there may be days when you are tempted to dip in to those savings, or not save the allotted amount for that month, when this happens it is important to remind yourself why you started, congratulate yourself on how far you’ve come and imagine how you will feel when you have achieved what you have set out to do.

In the words of Warren Buffet ‘don’t save what is left after spending, but spend what is left after saving’. To ensure that we are saving towards our monetary goals we should set up standing orders. So that come every pay day whether it be £1 or £50, your allotted amount is automatically transferred to your savings account.

We all know what our hard outgoings are, these include things such as your phone bill, or your travel fare. You shouldn’t be in a predicament where you find yourself borrowing from others or taking out loans. Living with your means is crucial.

When spending, spend in cash and leave your card at home. I find that whether out for dinner or out shopping if I take cash out prior I’m able to follow through with the previous point of ensuring I’m living within my means. That way it means I’m encouraged to plan out what it is exactly I’m buying or ordering and therefore there’s no need for me to get tempted to shop or order excessively.

Equally I found that when I take out cash, there’s always change and that change is in the form of a note. So I’ve developed the habit of saving that fiver or tenner in a tin jar. At the end of the year when you go to cash it in you’ll find you’ve saved a healthy amount on top of what you are already saving. I like to think of this as tipping myself.

Finally, I would suggest we further read up on the advice that experts give in regards to stirring clear of getting into a financial pickle. There are many free articles and forums offering such help. As you know I’m one for sayings, and as the saying goes knowledge is power, so invest in your financial investments.

I would love to hear how you aim to achieve your saving goals this year so please do share. After all sharing is caring 😉

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s