Setting Your 2022 Financial Goals
by Andrew Downing
As you are creating your New Year’s Resolutions, make sure to include financial goals. It’s simple, where do you want to be at the end of the year? Here are a few tips to help you make a plan.
Finish this next sentence, and you’ll realize what you need to focus on. I would feel much better about my finances at the end of this year if _________. You can work on reducing credit card debt, saving for an emergency fund, starting a Roth IRA, or anything else that will make you feel better about your financial situation.
Examine your current situation, including your income, your budget, and your expected expenses throughout 2022. There are tons of resources online if you need help planning a budget.
Lay out the details of your goal. Figure out exactly what you need to do to get there. The more specific the better.
After you figure out your goals and what you need to do, make the process automatic. Set up automatic payments, or start a new savings account and set up an auto draft.
Track your progress, and treat yourself as you reach new milestones.
Remember, when setting new goals, the hardest part is getting started. The first step is always the hardest step. So I challenge you to take that first step this week. In Step 1, you figured out what you want to accomplish. If you need a budget, find an online budget sheet or an app, and start this week. If you want to save money, go to the bank and start a new savings account. If your goal is to start a Roth IRA, make an appointment with a financial advisor. Just get started!