Monday, January 14, 2013

5 Tips To Achieving Your Financial Goals For 2013

The New Year is in full swing, bringing with it a clean slate and a year full of promises. So if you haven’t set your financial goals for 2013 yet, then now’s the time because setting financial goals at this point of the year can mean a very different Christmas in 2013 to the one you had in 2012.

Different people will have different financial goals for 2013. For some, clearing credit card debt is a major win, for others putting more money against the mortgage. Some will want to set aside money for a new bathroom or kitchen, others for a vacation or dream purchase. To each their own. Irrespective of what your goal is, the important thing is that you have a financial goal for 2013. Whether it’s clearing debt, increasing savings or saving for a specific goal, any goal is better than no goal. It’s clichĂ© but true; it’s very hard to hit a target if you don’t know where to aim!

Can you imagine yourself lying on a tropical beach in Fiji next Christmas? Or relaxing at home with a glass of champagne on New Year’s Eve holding a credit card statement bearing a zero balance? How nice would that be? And if these options don’t sound good to you, what does? At this early stage of the year, it’s important to think about your immediate, medium and long term financial goals, because the actions you take today will help bring you closer to your financial goals sooner. 

Tips To Help You Set And Achieve Your Financial Goals For 2013

The first step is to choose a financial goal that’s important and realistic to you. The point here is that there’s no sense in aiming for a Ferrari if you’re having trouble making ends meet day to day. Better to set a goal that’s focused on having enough money in the bank to cover unexpected eventualities so you don’t have the stress of living pay check to pay check. So take a good hard look at your current financial state and decide on a clear, simple goal that you’d be really pleased to achieve.

After you have your clear goal, write it down. And when you’ve written it down, put it everywhere where you can see it regularly: on the fridge, behind the toilet door, in your office, taped to your bedside table or your cat, even on the sun visor of your car. Doing this keeps your goal top of mind.
Then, every time you see one of your reminder notes, take a moment to clearly visualise the outcome of your goal. Take a moment to imagine the satisfaction you’ll get having a zero credit card balance, or to imagine the sun on your skin as you laze on a Fijian beach. Feels good, doesn’t it?

Now take action every day towards your goal. It doesn’t have to be massive action, but action each and every day will keep you on track and keep your goal top of mind. Small actions, like bringing your lunch from home rather than buying it or walking to work instead of driving, will keep you goal-minded and ‘on mission’.

Most importantly, if you fall off the horse, get right back on the horse. Life throws us curve balls at times, so if your goal calls for you to save a portion of each pay check but you get an unexpected bill, or heaven forbid you splurge at a sale, don’t beat yourself up about it. Just remind yourself what the end goal is and get back to your plan.

Life happens, so when it does, simply remind yourself what the end goal is, recommit to it, taking a moment to visualise it - then get back to it!

You can achieve financial success a lot quicker with a professional team of experts around you such as a great property manager, a fabulous financial adviser, an expert solicitor or lawyer, reliable tradesmen and a for those who live in Sydney and/or Brisbane, a team of Sydney Chartered Accountants such as Azure Group at your beck and call to help you with tax deductions and depreciations!

2013 can be a year of financial success, or “same old, same old”. Whether it is or not is up to you!

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