When the year ends and a new one begins, it’s time to review your finances, as well as some new regulations. But these same promises need to try to fulfill in order to get at least some result. That’s what it takes to plan and do in 2018 to improve your personal budget.
Studies show that the definition of financial goals for the New Year can not only have a beneficial effect on the state of your wallet, but also improve your overall welfare. Even if you are far from achieving all your resolutions.
In December 2017, a survey was conducted, during which respondents shared their views on planning the budget for the next year. 83% of respondents admitted that they felt financial improvements in their lives by the end of 2017. And 63% of those who set goals, but could not achieve them, felt that their personal budget improved their positions anyway. 53% of those who set a goal for the New Year reported that their total debt has decreased, and 58% said that their finances have improved significantly. And only 36% of respondents, from those who did not set goals, could say the same thing.
A financial plan gives you a sense of control.
Not every time we try to promise ourselves to improve our attitude towards finances, but, as a rule, we always have a pleasant feeling of calmness, with the thought that we will fulfill the promise. Acting week after week, month after month, there is a sense of control and, as a result, a good mood.
When you count all your debts and the upcoming mandatory spending, you can feel dejected. But when, after weighing all the pros and cons, you begin to think through a detailed “escape plan”, you calm down, looking at the fact that there is still a way out. And just the opposite – if you do not pay attention to your financial condition, you can panicked or become depressed when you realize that the money ran out, and the debt increased.
According to some research, “start saving money” is the most popular New Year’s resolution. Following it are the following:
– Close credit card.
– Set a specific personal budget.
– Pay by credit card every month in full and do not use these funds.
– Adhere to the limit of existing loans and borrowings and do not take new ones.
– More regularly monitor your credit score.
Promise to be more financially organized
This is a rather abstract and large-scale desire that will suit and be useful, perhaps, to each of us. You also need to understand what it means to be financially organized. This goal must be broken down into several points in order to be able to really achieve it.
For example, you can set yourself a goal to regularly report to yourself for the money spent. This can be done once a week or even every day.
Set specific goals in front of you
There should be no gaps and doubts about the ways to achieve them. Even if by the end of 2018 you cannot fulfill all the points of your promise to become more financially organized, you will definitely feel inspired by the fact that you have nevertheless fulfilled some mini-promises.
No one can control everything that will happen this year, but we can control our preparation to be more financially independent.