Setting goals might sound a bit dull but it can make a huge difference to your financial future. Without goals, you’ll drift along, have a bit of fun and get by. But each year will end up pretty much like the last one – no better, and hopefully no worse. But if you set goals you can achieve whatever you want – extra money for clothes, a better car, a holiday, a house or something else.
July 1 is the start of a new year (financially speaking) and it’s a great time to draw a line in the sand and commit to where you want to be this time next year. In other words, what are your goals? Some may be financial, like saving for a holiday; others may be non-financial, like passing an exam or getting fit.
People who write down their goals are much more likely to achieve them, so write down each goal (take a photo of the list and save it in your phone). Then write yourself instructions for what you need to do to make them happen. This is your strategy.
Be very specific. For example, if one of your goals is to pass an exam, your strategy could be to set aside 2 hours every Wednesday night for study. If there’s a chance you might forget, set up a reminder on your phone. If you want to buy a car, put an automatic transfer from your wages account to a separate car fund account that doesn’t have an ATM card. Having to physically go into the bank to withdraw cash will give you plenty of time to think twice about impulse spending.
If you want to be financially organised, start with my 5 tips for making the most your money and take my advice about spending less than you earn, and how using my ‘Rule of 3’ can make managing your personal finances easy.
And because it’s tax time, call me on 07 5479 5499 to find out how you can pay 25%* less on this year’s tax return preparation, thanks to Community Solutions. (*This offer applies to Community Services Apprentices and the Apprentices of Community Services Host Employers.)
To find out more about how to set financial goals to make life better by this time next year, please come and see us. Contact me today on 07 5479 5499 or info@vbatax.com
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General Advice Warning: This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.
