10 Jan 3 Essential Financial Goals to Set for 2022
Have you ever set a New Year’s Resolution only to completely forget about it three weeks later? I’m definitely guilty of that…
I like to tell my friends and clients that February 1st is the actual perfect time to reflect on your New Year’s Resolution and change it to be more realistic and achievable. January is the time for relaxing – February is the time for financial goal-setting!
When it comes to money, it’s all about planning for a secure future leading to financial freedom. Here are some financial goals that you could add to your list for the upcoming year!
1. Keep a Controlled Monthly Budget – and Actually Stick To It!
The start of a new year is a great moment to begin tracking your finances with a fresh slate. It is crucial to recognize how much money you spend and on what and how much money you save.
Thankfully, you can use an app instead of manually documenting all expenses and revenue on paper or in a spreadsheet.
A monthly budget is something I advocate. It allows you to really get to know your expenses and where exactly you are spending your money. Take the time to consider whether the thing you’re buying is genuinely necessary. Ask yourself, “Do I desire it or do I need it?”
Plus, clever apps can even send you alerts when you are heading into “out of budget” territory.
2. Pay Debts On Time
Getting out of debt is one of the most common challenges that people face. While debt is not always a terrible thing, it is terrifying when it spirals out of control and leaves you helpless.
If you have debts, you should aim to pay them off as soon as possible and build a plan to pay them off cost-effectively and sooner.
With a brand new year ahead, allow for a happy, debt-free, and financially sound new beginning.
3. Diversify Your Investment Portfolio
If you’ve already started investing, 2022 is the time to diversify and create a smarter investment portfolio. Passive income is a powerful thing
You don’t have to be an expert or invest a lot of money to get started. If you’ve been investing for a long time, now is the time to take a risk and take a leap of faith.
Remember that no investment is without risk, so you should work with an experienced financial planner to help you make the right decisions without having to take unnecessary risks.
Are you looking for a beginner’s guide to investing? Check our guide out here >>
Achieve your Goals with Leo Wealth: Central Coast Financial Planner
Achieving your goals will also call for self-discipline and devotion. No matter how badly you want it, such goals can’t be met without hard work.
All you really need to do is adjust your lifestyle, change your mindset, and become mindful of your money habits!
To find the best financial advisers in the Central Coast, Leo Wealth can support. With us, you are provided with quality service, financial education, and wealth management on investing, budgeting, cash-flow and retirement planning.