It is a new year and finances need to improve or we live as in the past year. Here are 8 sure ways to improve on finances this 2020.
1 – Set Clear Financial Goals
One of the best ways that you can improve your finances is to set clearly-defined financial goals. This doesn’t mean some abstract target in your mind. Your goals can’t simply be to have or make more money; they have to be real and measurable. You should set your goals for the long term and the short term.
Your long-term financial goals should be your big-picture ideal. 5 or 10 years from now, where do you picture yourself? Once you have the long-term goals defined, go about setting the short term ones as well. What are your financial goals 1 year from now? Write them out with real dollar amounts that have set dates.
Don’t just say you’ll make more money by the end of the year. How much more money will you make? Set a figure. Do you want to get out of debt? Exactly how much debt do you plan on paying off, and exactly by when? Maybe your goal is to eliminate 500,000 naira of debt in the next year. Define that and set a date that you can move towards.
Setting financial goals that are real and on paper creates a visceral transformation in your mind. When you can see your goals outlined there in front of you, you’ll do much more to achieve them. The unconscious mind has a funny way of moving you towards what you ask it for, as long you know what that is. When it’s abstract, it’s easier to get distracted and put it off. Make it real and measurable.