Devise a Plan or Re-Evaluate an Existing One Do you have short-term and long-term financial goals you’re working towards? Have you made a financial New Year’s resolution and have already bounced off track? Now is the time to commit or recommit yourself to your financial success. The key to goal setting is to be very specific about what you want to accomplish. Do you want to save for a vacation? Create an emergency fund? Pay off high-interest debt?
Put Your Payments and Savings on Autopilot Automate your savings straight from your checking account to a targeted savings account and set up a system to regularly save money without any extra effort. You can use a mobile app to help track your progress if you keep accounts separate. You can automate your savings for paying bills, reducing debt, short-term and long-term savings accounts, and for education expenses. Just set it up and forget about it!
Be Intentional About Your Finances By reviewing your spending and working off a budget, you’ll have a clear idea of where your money is going. Find out where you can cut out spending and where you can save (are you still paying for an unused gym membership or mobile app subscription?). Cut it out! Once you’ve freed up some funds you didn’t know you had, you can set effective financial goals like paying off debt, adding to your savings, or saving for your child’s college fund.
Look For Ways to Make Extra Income Do you have a special skill that you can use in a freelance position, maybe as a math tutor, or by teaching music lessons? Are you looking to transition into a career that offers more flexibility and control? If you are looking for ways to earn extra income but aren’t sure where to start, talk to your Primerica representative about ways to earn extra income by teaching families simple financial concepts that can get them on a better path.
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