Financial Goals for 2012

Financial Goals for 2012 The new financial year of 2012 has begun and for many of us, it comes with whole new set of goals. You might be eager to make a difference in your financial standings this year, but unsure of where to start or what kind of goals to set. It’s easy to feel overwhelmed when it comes to money — there are so many aspects of your financial life to consider. This, however, shouldn’t prevent you from taking the initiative and making 2012 one of the most fruitful years ever. As I’ve mentioned before , there is always some groundwork to do before you can set achievable financial goals. 2012 is no exception– if you want to make this a year that puts you ahead financially, you must take some time to understand your situation. How in debt are you? Are you living paycheck-to-paycheck? What are your monthly expenses and will they change in the near future? The more you understand where you really are financially, the more realistic your goals can be, and the further you can get ahead. Financial Goals for 2012 Let’s take a look at some of the best financial goals you can set for yourself for 2012. Stop Living From Paycheck-to-Paycheck – That is to say, you want to get ahead. Have a financial cushion. This is a reasonable goal to set that is totally achievable within 12 months time. You can either work on increasing your income (which we’ll talk about below) or change your lifestyle to save more money and be ahead in the future. A year of living frugally could help you save thousands of dollars and be better off come 2013. Pay Off Your Debt – Most people have debt, but few make it a goal to pay it off in the short term. It may not be feasible for you to pay off all your debt in one year, but you certainly can make strides. If you’re dealing with credit card debt, it’s often best to consolidate into one source. Many companies are willing to give you 12 months 0% apr, which means 12 months of you NOT having to pay off your debt and some 16% fee. A year to get ahead really. Consider transferring your balance to another company and getting a better rate. Also set a goal as to when you want to be debt free and what kind of payments it will take to get there. Start A Savings Account – You should be eager to start a savings account as it offers endless ways to benefit your future. A vacation. A medical emergency. A house. Retirement. Successfully starting a savings account starts with a few dollars, which is easy enough. Afterwards it takes a bit more effort. You must be willing to put away a certain percentage of your paycheck or get another small source of income that goes exclusively into the account. Set a goal as to how much money you want to save in 2012 and chart it’s progress. Increase Your Income –   Set a goal as to how much more money you want to earn this year and make it happen. You can work hard at getting a raise, making your position more valuable , renting out a room, or getting another part time job. It seems difficult, but the truth of the matter is that anyone can increase their income with research and hard work. Financial Goals for 2012 Make your financial goals come true in 2012! It might be a hard, but you’ll be glad you worked at achieving them come 2013. Financial Goals for 2012

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Financial Goals for 2012