In spite of the fact that we’ve survived the Big Day with its holiday gifts, excessively long grocery shopping lists and decorations expenses, the holiday sales fever is still not coming to the end. And even if you have some experts-proved shopping strategies in view, maybe the most precious gift you can offer yourself for New Year is a stop to get your breath back from shopping races and develop your next year personal financial plan.
The best thing about this gift is that you surely don’t have to spend money on it and, on the contrary, it helps you save and pave your own way to prosperity. Believe, all rich people plan their future. Do you want to be one of them next year?
Take aim!
If you don’t set clear goals how to spend your money, it will slip through your fingers. Yes, it always does. If you don’t plan your budget according to your goals, be always prepared to feel a lack of money. To prevent it, think globally. Buying a car, moving into a better house, a decent pension plan or travelling to desired places after all – they all are good aims to achieve. The only rule here – the goal must be reasonable and achievable. However, in one way or another, get ready to put yourself on a financial “diet”.
There are no obstacles on my way!
First of all revise your ongoing financial condition and analyze the schemes of your money movement: see where your money comes from and where it was now to face your real opportunities and possible financial risks. After you have examined your “actives” and “passives” divide your money flows into three categories: the fund of current expenses (utilities, food, transport, regular payments, food, clothes and entertainment expenses, holiday gifts, etc.), the fund of protection (savings for a rainy day”) and the fund of growth (investment). Keep in mind that these categories are not stable and can be changed without your participation (such as prices in the supermarkets), so you have to correct your calculations monthly. For instance, American Research Group prove that seasonal holiday expenses grow every year and middle class salary hardly ever manages to match them, so as prices change and you income is reduced because of inflation it is absolutely possible that what you’ve planned to spend for Christmas can be no good for your aunt’s summer birthday.
If you find a personal budget deficit, it proves a waste of money in your family and points out the time to reduce your spending and tighten the belts. But experts are optimistic saying that you can always find unnecessary expenses and save a tidy sum, cutting them down easily.
Still have nothing to invest? Face the truth: if you regularly spend more than you earn and your fund of grows is not actually growing, you most likely have to climb out of debt. It can be sometimes a tough task to complete and the better solution is to turn to experts, such as National Debt Relief, and get your payoff plan developed.
Money begets money
Stick to your financial plan and you soon be rewarded! Although all diets sound depressingly, good money habits will soon become an essential part of your life, helping you reach your goal, which is highly motivating itself. And may be your next New Year resolution and changes that are going to be brought with it will be more pleasure than punishment.