5 Ways to Reset Your Money Goals

It’s nearly the end of January, which means it’s time for a check-in.

How are you doing with your goals for 2021?
Are you taking healthy steps?
Are the actions you’re taking today paving the way to a better tomorrow?

We want to see you succeed this year, so we have put together five simple ways you can reset your goals: 

  1. Start with the end in mind. 

What do you want to accomplish this year, next year, five years from now? How will changing your habits today make that possible? Do you want to pay off your mortgage? Buy a new car with cash? Save for retirement? If you have a focused list of goals, it will be easier to plan and take the steps you’ll need to in order to reach them.

2. Evaluate your spending habits.

Get your bank statements out and take a long, hard look at where you’re spending money. For example, if you get a $4 cup of coffee every single morning (365 mornings), you’re spending $1,460 a year. If it costs $1 to make coffee at home, you could save that $1,095 for something else. Perhaps that $4 coffee is really important to you, but is it more important than your long-term goals?

3. Make a zero-based budget.

This may sound daunting, but it is actually very simple to make this type of budget. At the beginning of the month, you plan your spending so that your total income minus your total expenses equals zero. You give every dollar a job in your budget. This will help you set priorities for your money.

4. Beef up your emergency fund.

Building a $1,000 emergency fund will act as a buffer between you and life. If you’re completely out of debt, set a goal to build that emergency fund up to have enough money in savings to cover 3 to 6 months of expenses. That way, if an emergency comes along, you can pay cash instead of turning to debt.

5. Track your progress

Building wealth takes time. It’s a long-term game. Because of that, it is vitally important to track your progress along the way so that you can visualize and celebrate the small wins. Celebrating the small wins help you stay fired up for the long haul.

We want to see you find success this year. Ask us how we can help you achieve your goals! 

Share this Post:

Subscribe Now – Free!

Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.