How to Reach Your Financial Goals in 2021
A simple plan to help you get the results you want.
When I was in my early twenties, my finances were a disaster. I didn’t keep track of my spending. Credit cards were always maxed out. I had no savings to speak of, let alone investments that would allow me to build wealth for the future.
Money and financial planning weren’t often discussed in my working-class household — except for the occasional “we can’t afford that” comment. As a result, I grew up believing that living paycheck to paycheck was the norm.
Luckily, I had a harsh wake-up call in my early thirties, which motivated me to work hard to get my finances in order.
I began educating myself about financial planning, budgeting, and investing by reading books and consulting with an accountant. I tracked my spending religiously and created budgets to help me stay on track.
However, most importantly, at the end of each year, I review my financial progress and create a new plan for the upcoming year.
This process involves:
- Understanding your basic living expenses,
- Creating a plan to pay down debt,
- Setting a monthly savings goal,
- Deciding what investments you…
