Category: Setting Goal

Cut Spending

No matter your financial situation, it’s always wise to cut spending where you can. After all, that’s more money in your pocket that you can contribute to your long-term financial goals.  You may want to choose one category each month through the year to look for ways to save...
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Set up a Financial Plan

A long-term financial plan will address all aspects of your finances. This plan should outline a timetable of when you will purchase a house, when you will retire and any career changes you plan to make. It should also include an investing strategy and a plan to build wealth. This plan...
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Better Your Career

This year you need to do something to advance your career. If you love your job, and you see yourself staying there for the next 10 years, you can still find something you can do to improve your career stability and to prepare yourself for the next step, such as...
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Start Saving for Retirement

If you have a full time job, you should contribute up to the amount that the company will match until you are out of debt. Once you are out of debt, then you should begin contributing 15 percent of your income. The amount you get from your employer’s match should count...
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Save Up an Emergency Fund

The size of your emergency fund really depends on your current situation. If you are still getting out of debt, you should have a smaller emergency fund until you pay off your debt, like $1,000.  If your job is more volatile or you are the primary breadwinner for your family, you...
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Don’t Add More Debt

This goal is key if you are serious about getting out of debt. The one exception you may make to this goal is if you are ready to buy a new home. This means you need to stop using your credit cards. You should try to get by with your...
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Pay Off Debt

Make a specific goal on how much debt you want to get rid of this year. If possible, you should try to get completely out of debt, but depending on your income and the amount of debt you currently have, you may not be able to do that. Set...
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Stick to Your Budget Each Month

This is a tough goal, but as you carefully set up your budget and track it, you should be able to stick to your budget. Putting it simply, you should be spending less than you earn and putting money into savings. If you can stick to your budget, you will...
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Write Down Every Penny You Spend

This is a great habit to keep not just the first few months of 2020, but the entire year. But it’s not easy. In the first month, you may want to physically write down each purchase you make in a notebook that you carry with you. Sometimes physically writing...
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Stick to a Monthly Spending Plan

This may seem like a simple goal, but writing out a spending plan each month is the first step in getting control of your finances. If you can write out your budget each month, and put every dollar you earn in a specific place, you will begin to improve your finances.  Here’s...
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