One common resolution for many people coming into the new year is to be financially stable and successful. However, it takes more than just pure luck and a single ball drop to get to that point.Â
What it really takes to being more financially stable is having extreme discipline, repetitive sacrifice, and true dedication. Short and long term financial goals are what help you to move forward with the promises you make to yourself.Â
Create a Budget Plan
Have you ever struggled with creating a budget that you could actually follow? Taking the right amount of time to sort and filter out all of your spendings can be a huge eye-opener. If the majority of your spending revolves around paying off student debt versus upgrading to the latest iPhone, then you are on the right track!
Avoid Impulse Spending Even when this step can be self-explanatory, it seems as if the temptation to go out and get those new airpods or Fenty concealer is still lurking around. If you are not staying on track with your expenses and making sure you’re putting a chunk of change away for a raining day first, then you can’t go get that new faux fur jacket no matter how bad you think you need it to complete your winter wardrobe.
Get a Side Hustle Side hustles can be more than just babysitting and after-school tutoring. Freelance blogging and even mystery shopping can also be ways for you to earn extra money to spend as well as save for 2019. Pick a side hustle that fits your skill set or interests!
Keep Track of All Your Spending Writing down short and long term financial goals can actually make them more likely to be achieved. Accurately journaling all transactions and spending can create a sense of accountability for you to know how much you are willing to spend in a certain amount of time. By creating your own money log, you can track positives and negatives along with making some improvements to your finances.Â
Build & Maintain an Emergency Fund No financial goal in the world would be worth having if you lose your dorm slot for the upcoming semester which could become a slight possibility. Since it’s clear that life gives us no crystal ball full of future predictions, it becomes very crucial to save a little extra cash at all times. An emergency fund is great to have in case of any financial dilemma.
By incorporating these 5 Financial Goals into your routine, you’re sure to be on your way to financial stability and success! Now this time next year you should have room for bigger and better new year’s resolutions after crossing your finances off of your list!  Â