Smart Ways to Meet Your Financial Goals in the New Year

Credit Warehouse
2 min readJan 16, 2020

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Let’s talk about those goals you have and how to meet them. Thinking of it, it is ok if you haven’t set your goals for the year, hopefully, after reading this, you would have that set and ready to go. You may ask, what is a financial goal and why do I need one?

Money Matters

Well, financial goals are objectives you set for how you intend to save and spend money based on your earnings. Financial goals are personal and vary from one person to the other, the same as reasons for setting the goals. They help you to stay on top of your finance, make better money decisions, and avoid money mistakes.

And from experience, no one enjoys making those money mistakes, regardless of how much money they earn. This is why it is advisable to plan and set your financial goals at the beginning of every year. No one says you can’t do it quarterly or monthly, but since a new year comes with new projects, expenses, and likes, it is advisable to plan for your finance then too.

Some of such financial goals for the year could be to save for retirement, make a budget, hit a million in your bank account, etc. Basically, any goal that involves you saving or spending money and sincerely, no goal is unrealizable. You just need to set out realistic ways to achieve those goals.

Here are some smart ways to meet your financial goals for the new year;

  1. Make your goals S.M.A.R.T. (Specific, Measurable, Attainable, Realistic & Time-bound); You don’t want to set a goal that is devoid of any of these.
  2. Research& Calculate; for whatever reason you intend to save or spend money, you should always have your research done, how much would the set project cost, how much of your earns would you need to set aside and how long before you reach the money needed. This helps you stay in sync with your goals and you’re not caught off guard.
  3. Budget; It is impossible to reach your financial goals without budgeting. This is because there are basic needs you need money to meet, from food, shelter, transportation, etc. So how do you cater to the basic needs and still reach your goal if you do not budget? Budgeting also helps you to know your financial stand.
  4. Spend lesser than you earn; you have probably heard this one too many times, so I will just reinstate, ever spend more than you earn, rather, spend less, that way you will have money left for your financial goals.
  5. Track your progress; Keep tabs on your expenses, savings and celebrate reaching your goals.

These are five important ways to hit your financial goals this year, you are welcome!

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