2018 is almost here and it’s a great time to stop sobbing over the fact that you didn’t invest in bitcoin back in 2009 and start over with fresh financial ideas and resolutions. So, to ease the way for you, we bring you a list of financial goals which might want to consider:
Gen Y Finances: 2017 could be most successful year in your life!
1) Make definite resolutions:
It is easier to aim for shooter goals. So, try to make your goals as specific and short term as possible because it helps build confidence. When you concentrate on one thing at a time, your chances of accomplishing your long term goal increase. Whether it’s coming up with a name for your product or simply setting up your monthly spending plan.
2) Pay your debts:
Whether it’s your relative you owe money or even your telephone company, kick off the year by clearing your debts. You cannot move forward with a heavy debt holding you back. So, the question arises, what exactly can you do to reduce the amount of money you owe? Well you can start with selling some stuff of yours, paintings or furniture. And if that doesn’t do the trick, then you’ll have to juggle multiple jobs.
3) Consult a Financial Planner:
It is always better to have a long term financial plan. A Financial Planner would guide you with a better understanding of the market to help you invest better. He or she does all the thinking and planning for you and simplifies everything for you so that you can make informative decisions hence avoiding financial disasters.
4) Reduce your expenses:
Resist yourself from buying flashy things to fit in with the popular. Cut your expenses to the bare minimum which includes gas, groceries, etc. Assess your spending obsession to plan out a strategy to reserve money for investments.
5) Switch to Automatic Savings:
You should switch to an automatic savings plan in which portion of the money you receive every month is transferred automatically into your savings account. It literally forces you to save money. In this way, you would have a hold of some cash in case of an emergency. It eliminates the spending problem of yours.
6) Reduce the use of Credit Cards:
Credits Cards allow you to spend more than you actually have and hence become quite tempting. So, the only thing you can do to resist yourself from spending more is to cut them off completely.