Financial Tips How to make financial resolutions towards 2018

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Positive changes should be made when it comes to your finances in the new year.

How to make financial resolutions towards 2018 play

How to make financial resolutions towards 2018

(Moneytips)

2017 is gradually coming to an end you should start thinking how to achieve financial goals for 2018. Some financial resolutions should be set towards 2018.

As we have new year resolutions for other aspects of our lives, we should also have new year resolutions when it comes to our finances.

Positive changes should be made when it comes to your finances in the new year. Create short-term and long-term goals financial resolution you want to achieve in 2018.

Here are ways to make financial resolutions towards 2018

1. Create a financial plan

As the year 2017 is rounding up, this is the best time to create a  financial plan for the new year.

play Create a financial plan (Sylviachierchia)

 

Sit down and set a good financial plan you want to work with. Your financial plan would help you follow and get to your financial goals. Adjustment to financial plans can be made as your life changes.

If you have a well-tailored out financial plan, it would be much easier to reach your financial goals and achievements. 

2. Set saving goals

Saving is very important when setting financial goals. With a new year fast approaching, you should set savings goals.

How much do you want to set aside for some huge purchase and how much do you want to save to increase your wealth.

Save part of your income regularly to achieve your financial goals in 2018.

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3. Clear and stay out of debt

This is one thing you should drop before the year 2017 runs out.

play clear and stay out of debt (Bankrate)

 

If you have debt you have not cleared yet, you need to clear it before the year ends and try not to take your debt into a new year.

Find ways of clearing debt. Get another stream of income, maybe by starting a side hustle, you can use the income to clear your debt and also stay out of debt in the year 2018.

4. Control your spending

Use the opportunity of a new year to control your spending. Know what you need to spend to spend money on. Differentiate between your needs and wants.

Know that your needs are more important than wants which you desire. Check and track your spending. Stop impulsive spending.

ALSO READ: 6 ways to protect yourself from identity theft

5. Take budgeting seriously

In the new year, you should take budgeting more seriously. Budget is the greatest way of managing and also controlling your finance.

From the beginning of January 2018 until December 2018, following a budget every month and your finance will be looking so good. That is if you follow through with it.

Budgeting has a way of controlling your income and also curbs the way you spend money.

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