If you're like many people, you'll be thrilled to have 2020 in the rear-view mirror. The emotional, physical, and financial challenges of life during a pandemic have taken a toll on all of us in varying degrees.
As this challenging year comes to a close, it's more important than ever to create smart personal finance goals. Times of uncertainty or crisis can be an opportunity to reevaluate your priorities and get a fresh financial start. This post will help you set better money goals that are easier to keep and crush in 2021.
5 Tips to Set Better Money Goals
Creating money goals can feel overwhelming because there's probably a lot you want to accomplish. Setting priorities and improving your financial life comes down to these fundamental steps:
- Understanding your current financial situation
- Knowing what you what your financial situation to be
- Bridging the gap between the two
You need a big-picture view of where you are today to create a realistic and overarching financial plan.
So, the first step is to get organized and assess the state of your financial life. You need a big-picture view of where you are today to create a realistic and overarching financial plan.
Then, you must be clear about what you want to do or create with your money. It's essential to dream, consider your values, and decide what goals would make you and your family happy.
The last part, bridging the gap between where you are and where you want to be, is the process of determining how to manage your money so you achieve your goals.
Use these five tips to get a holistic view of your finances, set goals, and accomplish them on time.
1. Create or update your Personal Financial Statement
If you're a regular Money Girl reader or podcast listener, you know that I recommend using a Personal Financial Statement (PFS) as the cornerstone of your financial plan. It's a critical tool for getting organized and gauging your financial health.
You can...
Keep reading on Quick and Dirty Tips
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