4 financial goals for the year ahead

2 MIN READ December 19, 2022
Every year, people make a New Year’s resolution to get their finances in order. Whether that’s saving more, spending less, or taking the time to sit down with a financial adviser to make a plan, it’s a common theme. To help you get started, we’ve…

1. Review your finances

If you haven’t actually reviewed your finances recently, perhaps your goal for this year will be to sit down and get into the nitty gritty of your money. You don’t have to do it all at once, but it’s important that you get a clear understanding of what you’re earning and what you’re spending so you know where you might need to make some changes. Maybe you can try to spend a bit less on takeaways, or hold a garage sale to make a bit of extra cash.

2. Create a budget

Many people believe a budget is restrictive and unrealistic, but it doesn’t have to be. Alongside setting aside money for your bills and other outgoings, also set aside some money for spending on whatever you like. If you’re saving for a holiday, you could make it more engaging by creating a visual representation of where you’re at (like the fundraising thermometers) to remind you of your goal.

3. Reduce debt

Taking control of your debt is one of the best goals you can make for your financial wellbeing this year. Plan to get rid of your most expensive debts, or ones with the highest interest rate first, like credit cards and overdrafts. Then work your way down to long term debts like your mortgage. If that seems too daunting, you can start with your smallest debts first, and then you’ll feel a much better sense of achievement at getting them out of the way fast.

4. Sit down with an adviser

If you’ve never had a chat with a financial adviser before, now’s the time. Make one of your financial goals this year to get in touch with an adviser you trust to help you get a handle on your finances. If one of your goals was to attend the gym more, or lose weight, you’d likely call in the professionals and get a personal trainer to help. Think of a financial adviser as a personal trainer for your finances!

Whether you want to create a budget, review your finances, or reduce debt, we’re here to help! No matter your financial situation, we’ll get you and your family set up for a brighter future.

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