1 Create a plan or strategy to achieve your goals:
In order to be successful in these matters, it is necessary to maintain organization regarding your finances. Take a sheet of paper and a pen or open an Excel and calculate your income in the first months of the year and do the same with your expenses. Everything is an approximation, but it can always help us as a guide. The ideal, obviously, is for your income to be greater than your expenses and for that difference to become greater and greater.
There are many applications that will help you manage your finances. For example, Mint, Wallet, Fintonic. In this type of application you can set monthly spending and savings goals, and it also helps to schedule reminders for future payments.
2 Define your financial goals:
Once you define your objectives, it will be much easier to set clear goals. Your goals may be to buy a car, a house, trips you want to take, pay for studies, or simply save.
And now that you have set the objectives, it is time to define the goals that bring you closer to it… If the objective is the final destination of a path or a route, the goals would be the milestones that you pass as you get closer…
3 Share your goals with someone else:
Talk about it with a close family member or friend. This way, if they see that you deviate they will be able to remind you. A little pressure and vigilance is always good to avoid getting sidetracked. And in turn, you can celebrate with that person when the goal is achieved!
4 Save
It is clear that from day one you have to start with a savings mentality. We already know that these are complicated dates because rest and vacation times arrive and you are already finalizing those details, but the year is long! You will have time to save. Define a percentage for each month. For example, allocate 20% of your income to savings.
5 Invest
Another step that can help you is to invest. You don’t need to be an expert… It depends on your goal, you can have a little more margin when investing in something with more or less risk.
Saving is the first step, but it is also important that all the savings you generate are invested in some financial instrument that gives you returns that help you meet your financial goals more quickly.
There is the principle of inaction, which is paralysis by analysis, we are so stuck in thinking what is happening that we do not move to start acting.
We have to get the PRE out of the worry of being able to achieve it and start Taking Care!
I tell you something?
Dollars under the mattress is a bad deal! Inflation causes you to lose purchasing power
Do you know how much you lost to inflation if you had $10,000 saved from 2022?
Now you would have the equivalent USD 9,689.
And for 5 years? Today you would have usd 8,048
And 10 years? Today you would have 7,392.
Investing responsibly with low-risk instruments and diversifying is possible!
If your 2023 was a whirlwind, you should know this:
- It is important to focus on your own journey.
- Go out and find what you want and don’t wait for others to do it for you.
- If you are not achieving it, change the way you do it.
- Your emotions should not dominate your decisions.
- Consistency and self-discipline give freedom to your life.
Well…so are you ready to prepare your goals?
Contact information:
www.marinabarbera.com.ar
WhatsApp: https://api.whatsapp.com/send?phone=5491132102895
IG: Financial_Advisor
by CEDOC