Money Goals For The New Year – What Are Yours?
I have so many resolutions and goals for the new year. I realized when I took inventory of these and made my plans, that they were focused on two areas. First, my personal health and wellness. Second, my small business goals for 2019. While both of these are important to me, I realized that wasn’t quite balanced enough. What I was missing was personal money goals for the new year. So what better way to sort through that, than blog a bit about my ideas?
Ideas For Personal Money Goals For The New Year
- Saving more in an emergency fund. Do you have an emergency fund? Depending on your life situation, you may have $500 set aside for emergency’s or maybe you have 6 months of living expenses in the bank. Decide what is ideal for you and your family and set your goal.
- Starting your retirement savings or choosing to contribute more. My husband is a bit older than me and we are lucky that he works for a company with good retirement benefits and planning. That being said, we have never focused on specific savings for me. Now may be the time!
- Paying off debt or credit cards. This doesn’t sound like fun, but it has amazing financial benefits once done! Whether it is student loans or credit cards or a car payment…those interest payments add up to a lot. Make a plan to pay down your highest interest rate debt to save more money in the long term.
- Travel the world! Well, that may be a little ambitious, but choose a trip or make some vacation plans and set some savings goals around that.
- Save for a life event…babies, weddings, or a home purchase in your future? We are considering having children in the near future. While you can never be perfectly prepared, what will it take for me to be on maternity leave and be able to have the things we need?
Knock Out Your Money Goals
In my opinion, the most important things about creating a goal, is figuring out how I am going to accomplish it. Who, what, where, when and why are the things I need to think through to knock my goal or resolution out of the park. I plan to buckle down and choose my main money goal and then some secondary priorities off of the list this week. What would you choose?
