Set 2012 Personal Finance and Money Goals

What better way to start 2012 then by taking time to set personal finance and money goals for the year? I know it sounds somewhat cliche, but a new year is a “clean sheet” and therefore a great way to organize and plan out your finances for the upcoming year. Truth be told, we should always have personal finance goals in mind that we’re working towards. B it’s just easier, sometimes, to plan them from the beginning of the financial year as you may have an idea of where you’d like to be in 12 months. So, if you’re not good with resolutions, why not making the actual process of setting financial goals for 2012 yours? Even starting out with a simple goal, like having enough money for a weekend away, is a step in the right direction. In order to set personal finance and money goals, there are a few pieces of groundwork you need to start with. Firstly, you need to go over your finances and understand what kind of place you’re at. Anticipate the upcoming tax date in April and really do your homework before coming to a conclusion as to what you’re financial status is. After you’re done really examining your finances, it’s time to think about where you’d like to be 5 years in the future. Wheat kind of standing would you like to have in 2017? Do you want to be a homeowner by then? Have traveled the world? Gotten rid of your credit card debt? Set 2012 Personal Finance and Money Goals Looking down the road several years in advance is important because it allows you to break the process into annual steps. I’m a strong believer in establishing a crystal clear objective, or goal, before anything else because it almost acts as a destination. How you travel to that destination almost doesn’t matter as long as you get there on time. Let’s look at some potential personal finance and money goals for 2012. Pay Off Debt. Most Americans have thousands of dollars of debt, so this goal is something that the majority of people should consider for 2012. For most of us this isn’t possibile to achieve in one year but that doesn’t mean we can’t pay off a large amount of it 2012 or get on the track of a plan that will lead to financial/debt freedom in the near future. Start a Savings Account . Many people don’t have a savings account because they’re living paycheck to paycheck. The only way to really get ahead, however, is to have some money in the bank for a rainy day. It could be there for a vacation, a house, a health emergency or even for your retirement. Therefore it’s no surprise that starting a savings account is an excellent goal for 2012. Increase Your Income .  Okay, easier said than done. Still, why shouldn’t you set this goal? If you’re barely ends meet, then increasing your income is a crucial goal of 2012. Whether this is taking on more work, another, or just getting a raise– it’s a goal that should definitely be on the table. Set 2012 Personal Finance and Money Goals It’s easy to set these personal finance goals– but how on Earth are you supposed to achieve them? If you really want to get your finances together and achieve your longterm goals, I would recommend getting a financial counselor. Someone who can help you wade through your own finances and set up an airtight plan for the future. Otherwise, the other large piece of achieving a financial goal is “getting more money”. Is there any other way of saying it? You need more money to pay off your debt and live comfortably and more money to start a savings account. Learning how to increase your salary is the fundamental way you can achieve this. The only other way is to change your financial lifestyle, live more frugally, and make sure that you’re putting enough of your paycheck towards achieving your money goals than before. Often times, a sacrifice in spending now can mean financial freedom in the future. Set 2012 Personal Finance and Money Goals Set 2012 Personal Finance and Money Goals

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Set 2012 Personal Finance and Money Goals