For the year 2019, plan on achieving some financial goals. Most people feel New Year resolutions only have to do with losing weight. But that is not so. It’s time to save that money and do away with unnecessary spending.
It is said that those who fail to plan, plan to fail.
By the end of January, which is just a few days away, you should already have a short and long term financial goal you want to achieve in 2019.
Have a Financial plan: First things first! You must have a financial plan. This is the best time to draw out your financial plan which will help you achieve your goals. Financial plan helps you determine how much you spend in a month. It could be your transportation, food, investments etc.
Savings goal: The importance of savings cannot be underestimated. At the end of 2018, some people broke their piggy bank and discovered close to 200,000 naira. This is the time to set the goals, how much do you want to set aside daily, weekly or monthly? What percentage of your salary do you want to set aside in your savings account? You have to save part of your income for your financial goals in 2019.
Spend Wisely: There is a difference between “Wants” and “needs.” Your needs are more important than your wants which are just unnecessary things you desire. It’s not too late in the year to start controlling your expenses and track your spending. Focus on the important things and save your money.
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Cultivate the habit of budgeting: I have a friend who constantly reminds me that she is on budget. This made me recheck myself. It is proper to have the habit of budgeting in 2019, budgeting has a way of making you control how much money you spend. If you are working, draw out a budget on what you want to spend daily for transportation, food, internet data, fuel and other miscellaneous. Try not to spend more than what is on your budget.
Quality over Quantity: Focus on buying things that have good quality so you won’t end up purchasing the same item every month. This saves you from over spending.
Finally, if you want to change your financial life in 2019, you should start where you are and with what you have. Don’t compare your journey to anyone else’s. Stay focused!