New Year, New Goals!

Jan 1, 2017 by

New Year, New Goals!

2017 is upon us! Whether last year was a good one or not, we should create a new set of goals for the new year.  This is one of the most crucial steps in reaching financial freedom.  How can we reach freedom if we don’t know where we are going?

Some of you may have never set a financial goal before. So, where do we start?  I’ve compiled a list of some ideas below to help get some ideas for your own goals:

1. Max out your 401(k) – take advantage of the tax advantaged investing accounts!

2.Create an emergency fund – you always want to be prepared for the unexpected expenses.

 

3.Payoff debt/loans – create a plan to eliminate (or reduce as much as possible) your personal debt

4.Re-evaluate your insurance – make sure you have the right level of insurance for your situation, and are paying a fair price.

5.Create multiple streams of income – we don’t want to keep all of our eggs in one basket. Spread out your income as much as possible.

6.Balance you budget – to reach financial freedom we must spend less than we make.

7.Cancel subscriptions – subscriptions can be a big burden on our finances. Cancel the ones you don’t need.

8.Career plan – if you’re not doing the job you love, create a plan for you to figure out what you need to do to get you on track.

9.Give back – donating to charities that we value is a good habit to get into.

10.Create a will – make sure your finances are in order in case the unthinkable happens.

 

 

No matter what your 2017 financial goals end up being, make sure to write it down and track your progress.  I find it helpful to check-in on my goals each month to see how well I’m doing and to make sure I don’t loose site of where I want to be going.

Good luck with your goal setting, and happy 2017!

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1 Comment

  1. Great list. This is the perfect time to do a financial check up and ensure that you aren’t paying too much and to make any adjustments needed. Thanks for sharing!!!

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