Not To Late For New Year’s Goals!

This time of year is one of my favorites. Christmas was wonderful with friends and family fun with Aunts, Uncles, Cousins, all coming together. After Christmas comes another favorite of mine, New Years! It’s just a few days since 2016 started! This year why not make some financially freeing resolutions to help you through the coming year? It isn’t too late to get started on a few New Year’s goals!

Here are 12 simple goals for you to strive towards this coming year:

1. Assess your income and make sure that you can stay in the black with your current habits.

2. Decide which extra activities your budget can allow.

3. If you don’t already have one, create a budget. You can use a snazzy app or just use a pencil and paper. It doesn’t have to be fancy it just needs to help you track your money.

4. Start a backup fund. This is to be used only in case of emergency and should be enough for you to take care of an unexpected expense.

5. Map out your foreseeable expenses. This includes phone bills, gas, that summer trip, christmas (Ya, that happens every year), family birthdays ect.

6. Set aside 6 months of expenses as a “just in case” fund. This can be really hard to do but it’s worth it!

7. Choose a long term financial goal and begin to save towards it.

8. Do your best to live on less than you make and set the rest away for long, long, long term spending.

9. Prioritize your spending. You don’t have to stop doing fun things, just make sure that you can afford the fun things you are doing. Remember that saying yes to one thing often means saying no to another.

10. Talk to someone about investments and decide if they are something that you would like to pursue.

11. Research to find out more about a 401(k), IRA, or a college savings fund can do for your financial future.

12. Start a side business. Finding ways to boost your income is always good. I have had multiple “side gigs” over the years. I’ve run a lawn company, sold collectible matchbox cars and even sold Poinsettias door to door!

Out of the above selling Poinsettias are by far my favorite. I love selling things and it is a nice little Christmas bonus. I normally buy them for around 5 dollars and sell them for 10-15 depending on the health of the plant. It’s a great way to double your investment and earn cash. There are so many other things you can do as well. Just find something you like that will actually make some money!

These are some quick and simple goals you can look to set and reach this next year. Remember that even though lists like this can look daunting they can be very beneficial. Here’s to having a great 2016!