Make Money Moves

Make Your Moves

It’s a new year and its time we start making money moves! I always hear all these crazy resolutions that people set for themselves for the coming year. Some might go on a diet. Others might try to quit smoking! And, if you’re anything like me, then you know around this time of year, those resolutions are better left off for the next year.

I tried something different last year. I decided to make my resolution about how I handle money! I mean that’s a resolution everyone should make every year, and boy am I glad I did! Here are simple tips on on what I did and how it can help you make money moves!
 

1. Have a set goal

    

   No “resolution” is successful if you don’t have a clear understanding of what you are trying to achieve. Which is why it’s important to set a goal, not just any goal but a SMART one.
   
   Specific – What exactly do you want to achieve?
   Measurable – How will you keep track of your progress?
   Achievable – Is it a realistic/attainable goal?
   Relevant – How does this goal fit in with your current situation?
   Time-bound – How long will it take you to reach your goal?
   
   By creating a SMART goal it will make reaching your goal much easier. Whether you write this down on a piece of paper, hang it on the wall or put it on your phone; keeping your goal in your face will be a constant reminder and help you.
    

2. Assess your situation
   
   Once you have decided on a SMART goal, you then want to look at your current financial situation. Where’s your money at? Where is your money going? It’s no fun having to gather all of your information, and to be honest it can be a bit annoying. It can be a hassle, but it’s a must! Some of the items you'll want to look at are Income, Expenses, Debts, and Insurance.
   
   Having an idea of your money situation is going to allow you to know where you need to start, where you can cut back and where you can add.
   
    
3. Make a plan and stick with it!
   
   Many of our resolutions start to fall through heading into February. This is why it’s important for you to make a plan and keep working on it throughout the year. One of the simplest ways to stick to your plan is by automating some of your goals. For example, if your resolution is to build an emergency fund by the end of year, set up an automatic transfer into a savings account.
   
   It was so easy for me to get sidetracked, which is why I did a “money checkup” every quarter. Sitting down and just looking at my progress, not only helped me stay on track, it also motivated me to accomplish my goal!
   
    

I know, IT’S HARD! Things come up and stuff happens, but you shouldn’t let that stop you from what you set out to do. These small tips really helped me stay on track and accomplish my money goals this year, and I hope it does the same for you. Now go make some money moves!