What are your new year’s resolutions for this year 2020? How do you plan your Personal Finances for this year? If you are still wondering what to do and where to start then you are in the right place. This year is the best to reflect and review the past year and how you can improve your personal finances this year. So here are the tips and guides that can help you improve your financial status.
1. Reflect on the Past Year.
Before you start your new year goals, you need to first reflect and review your last year. Check things that work out and things that didn’t work out for your personal finances. You have to remove and add new things that can help you improve your personal finances.
2. Create Clear and Flexible goals.
You have to create clear goals you can really apply and do this year and make it flexible so you can adjust and adapt easily no matter what you face this year. Creating goals should be based on your level and slowly creating goals on a higher level so you can level up your game also.
3. Pay Your Debts.
Starting your new year would be more great if you would pay first all your debt before using your money on entertainment or vices. So, this year make sure to slowly pay all your debt and move forward to a great new year ahead.
4. Start to Improve your income.
After paying your debt you have to think of something how you can boost your income and make more money this year. If you work as an employee in a company or your boss, you can ask for an increase but make sure you deserve it and you can answer why should they increase your income salary. And if you have your business you can think of something about how to improve your service or product and also ways to get more clients and buyers. Lastly, if you already do both then maybe you can think of a new business or ways to make money online or offline.
5. Focus on Your Goals.
You have to focus and stick on your goals so you can improve your personal finances this year. Make sure to check on your goals monthly if you’re still on your track and you will not get lost. You can do it slowly and smartly so you can reach your goals before the year ends. You can watch motivational videos and also read blogs like this every day or if you have free time so you can easily be motivated and inspired to focus on your goals.
6. Use your money wisely & Lessen your expenses.
Like I always tell myself that you need to use your money wisely and stay on your monthly budget. You lessen your expenses buy not buying coffee or milk tea from branded stores but you can buy from other cheap but good alternatives or maybe you can buy it twice a week. You can also buy things that are of good quality but cheaper than those branded products. Another tip is to lessen going out or start having a home cook meal.
7. Invest more or Start Investing this year!
If you are not investing then you can start investing this year on Stock Market, Real Estate, Mutual Funds, Insurance or anything that can help you create a good investment to make your money work for you. If you are already investing then keep it up and invest more so you can increase your income yearly and will help you advance to your financial goals.
8. Improve yourself more!
This year make a goal that will help you improve your skills, self-development, talent, and your Financial status. You can copy the millionaire’s hobby & mindset. You need to read & watch more Personal Finance Books & videos this year. Try to remove bad habits and change them to good habits that will help you this year.
9. Be More Healthy!
You also need to check on your health and start a healthy lifestyle. If you are already doing a healthy lifestyle routine then keep it up and add more healthy routines for this year. Don’t forget about your health and if your personal finances are important then your health is much more important so you can do things that can help you improve your financial goals. This is also my goal this year to become healthy and sexier. I will do daily exercise and home workout routines and jogging and biking outside at least twice a week. Take time also to catch up with your friends and family because this will also help your emotional health. Lastly, don’t forget to be completely healthy don’t forget your spiritual life, you also need to feed your body and spirit no matter what is your religion and what you believe. But, I believe only on one God and that is Jesus Christ and create a relationship with Him today by accepting Him as Your Personal Saviour and repenting your sin. And you will have everlasting life in heaven. Try and have a prayer no matter where you are. I don’t force you and people to dit you have your freedom to believe what you believe. But make sure to have a happy and healthy body, emotion and spirit.
10. Give more to people. Pay it Forward.
Lastly, after earning I believe we also need to give back to others. Become a blessing to others by giving back what you receive this year and last year. Many Billionaire & Millionaire give back t others because they believe it is better to give than to receive and blessed are the givers. Make sure to give happily and this will surely give joy and happiness in your heart and also blessings to your life this year.
Think of something you really want to do it your life this year and in the future. Write everything down on your notebook or gadget and do it. You have to believe in yourself and become more Positive in life that you can do it and will be successful this year. Hope this helps you with your personal finance this year!