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5 Tips to Reach Your Financial Goals Easily

Finance • by Creditgenie • 18 October 2017

If you really take a moment and think about it, managing money in the household is almost nostalgic. There was a period in time where as hard as it is to believe, every penny counted… for the majority.

I can remember my mother balancing her checkbook literally, a checkbook. Relentlessly carrying numbers to find the sum of expenditures.  Some would say we need to educate children better in the school system. But the truth is, to reach our financial goals we need to plan for it.
Meet Your Financial Goals By Doing The Following:
Create a Budget

Before you create a budget, you must first understand what a budget actually is. Webster’s Dictionary defines a budget as: A plan used to decide the amount of money that can be spent, and how it can be spent. Figure out the amount of money you will receive during the month, and play it safe by working with the lower set of numbers. After that number has been determined break down your expenses into categories. Be as detailed as you can so you can be as accurate as you can. Make sure you give yourself some play money, even if for you that means a 6 pack of beer.

Balance Your Checkbook

This is not the same as it was before. Familiarize yourself with the technology available to make this something you will actually do regularly. There are several sites that even include this feature in making your budget, therefor making reaching your gold simple and manageable.

Have an Emergency Fund

It feels amazing when you reach the place where “Life” happens, and you resolve without running to your family for assistance. Not to mention when something does arise in life that requires a large amount of money to resolve, if you don’t have it, you will be stressed. Do yourself a favor have a fund for these emergencies before they occur, because they will!
Have Goals & Think Positive

One of the first financial goals you should work towards, is becoming debt free. For instance, if you have duel incomes and one of you makes 100, 000 a year, and the other makes about 40, 000 a year. Use the income if 40, 000 a year to pay for all of the bills, and manage the household. This is called living below your means. Use the other spouse’s money towards paying off any debt (aside from your mortgage) that the both of you have. After you reach the goal of paying off those debts, you can begin to pay off your house or save to buy one cash. If nothing changes in that period of time as far as the income calculated initially, it wouldn’t take you longer than 3 years to buy a very nice house cash!

Get It! Figure out what is you want from life and go get it! Typically this correlates directly with your God given passions.  In that place of purpose is where you will find your treasure. And when you do what you love, being great at it comes naturally.

Making these simple modifications in our daily routine, can have an enormous effect on our lifestyle financially. Creating a budget will literally feel like you have given yourself a pay raise, and allow you to allocate funds appropriately planning for the unexpected. Having financial goals will keep you moving forward and keeping positive is necessary to reaching them. Go Get It!