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Put your hand up if you’re ready to crush your financial goals? Are you ready to start crushing all of your financial goals for 2018?
Why should you set a financial goal/s?
In hindsight, goal setting can help you long term and how your future may play out. Setting your own financial goals can help you get out of debt and become financially secure.
What are your financial goals?
Let’s start off by determining what your financial goals are. It may be a large goal or a small one. Either is totally okay.
Write down a list of what your financial goals may be.
A list of financial goals could be:
- Paying off your debts
- Purchasing a new car
- Purchasing a new home
- Creating an emergency fund
- Having money set aside for retirement
- Entertainment purposes
Whatever your goal/s maybe I definitely recommend writing them down.
How do you want to achieve your financial goals?
Determine how you want to achieve your financial goals.
Let’s say you have a debt you’d like to pay off within the next two years or you want to save to purchase a new home. Perhaps you can find ways to reduce your expenses and put that extra money towards paying off your debt.
Related article: 10 Ways To Reduce Your Expenses
When do you want to achieve your financial goals?
Set yourself a time frame and determine when you would like to achieve this goal by.
I have set a goal to pay off my credit within 18 to 24 months, however, I would love to pay it off sooner than that.
Related article: How I Want To Pay Off My Credit Card Debt
Keep track of your financial goals
I’ve included a free financial goals worksheet to help you keep track of your financial goals. You can download the free worksheet below.
Keeping track of your goals will show how much progress you have made towards your goals. You can track each goal every week or month to determine how far you are coming along.
Set yourself a reminder
I like to set myself a reminder on my phone which helps keep track of my goals. By setting yourself a reminder you will be able to determine your progress and when you can reach your goal.
Maintain your budget
Budget isn’t a dirty word and it is important to maintain a budget. If you don’t already have a budget, check out this post by Rosemarie Groner here. The post has helped me a tonne at creating my own budget and sticking to it.
By maintaining your budget you will be able to focus on your most important expenses, keep any debt under control and be able to live comfortably.
Track what you’re spending
If you’re not already tracking what you’re spending – start now! I wasn’t tracking what I was spending and I honestly had no idea where my money was going. I was barely living paycheck to paycheck because it was just going right down the drain and I was making so many unnecessary purchases.
By keeping track of what you’re spending you will be able to determine what needs to go and what needs to stay.
Confession: When I moved out of home I was spending a lot of money. I had spent a lot of my money on takeaway food and it was costing a fortune. I have since learned and controlled my spending and found ways to cook delicious, healthy meals at home.
Tip: Start by eliminating small expenses that you may not need in your everyday life.
Earn extra income
If you’re looking to crush any of your financial goals sooner rather than later, then you may want to start looking at earning additional income.
Here are six ways you can earn extra income.
- Start your own self-hosted blog. Creating your own blog can open a whole window of opportunities and the best part is that you can write about your passion, connect with people in the same niche as you and connect with a huge, supportive blogging community. One of my favourite bloggers is Michelle Schroeder-Gardner from Making Sense of Cents. Michelle earns over $100,000 each month from her blog. Siteground offer hosting for as low as $3.95 per month. Click here to find out more about Siteground’s awesome services.
- Take up a second job. Yes, not a lot of people want to take up a second job, however, it does help a lot. I am someone who has a second job and it has helped a lot. Having a second job has allowed to me to save extra money for a house deposit, make sure all of my bills are paid on time and have food on the table. It is hard work and hard work will always pay off in the end.
- Sell unwanted items around your house. Someone’s trash can be someone’s treasure. Perhaps you have clothes, CD’s, DVD’s, old books etc… that you don’t need anymore. This can also help by decluttering your home.
- Participate in online surveys. My favourite website to use is Swagbucks. Earn Swagbucks by participating in online surveys, watching videos, playing games etc… Once you have earned enough Swagbucks you can cash them in for gift cards to your favourite shops. Click here to learn more about Swagbucks and score a $5 signup bonus.
- Offer your services by signing up to Fiverr. Got a knack for writing, graphic design or can help out someone who is having tech problems + more? Fiverr helps you find short-term jobs by others who need your help. Click here to find out more about Fiverr and how your services can help others.
- If you’re an animal lover, you could offer dog walking or pet sitting services. Hand our flyers within your community offering your services.
What are some ways you can crush your financial goals?
Download a copy of your free financial goals worksheet below.