Adieu 2019, Hello 2020!  It’s always the beginning of the year that normally drives us to review our past achievements and make plans for 2020’s resolutions. It’s also a fresh start for us to strive for the improvement in life, gain meaningful achievements and moments throughout the year. Although making New Year’s resolutions is quite easy, however, the stiffest part is to commit those resolutions properly while going through the 2020’s journey.

One of the most important missions is to ensure a secure daily life and that is achieving financial goals, such as earning, saving, investing and others. If you feel stuck in your financial goals for this year, let’s apply these tips to assist you achieve your financial goals effectively.

1. AIM to become a debt free individual

It seems that most of the times, we can’t evade ourselves from the debt issues. We need to take loans to own a house, car, further study, start a business and for other purposes. Becoming a debt free individual may look impossible and arduous for one to attain. However, we assuredly must try to settle our debts wisely by reviewing our monthly earnings and debt status. For instance, finding ways on how to manage all your debts by any means is important even though it will require you to repay all the debts for a several years’ duration. By carefully managing your debts smartly, at the same time this will build up your confidence to attain your financial freedom and solve other crucial life’s matters.

2. GENERATE extra or side income

In this day and age, one job is just enough for you to support basic daily things. If you want to save more for future, you need to find a way to generate a side income. For instance, starting an online business. It is viral nowadays because people are always attached with gadget and social media platform. Nevertheless, you need to gain knowledge and learn the strategies very well before starting your online business. Earning extra money even it is a small amount of money can make a huge difference to you. This is because you can use the money earned to pay off debts, bills and most importantly, you can earn extra money for saving.

3. START a rainy day fund

A rainy day fund or commonly known as an emergency fund is a reserved amount of money set aside for unexpected events that might happen in your life. This fund will help you cover your major expenses when you are not financially prepared. The most ideal amount to save in an emergency fund is three to six months of your salary or living expenses to adequately cover your difficult times and help you manage life’s financial ups and downs.

4. CREATE a budget plan

Creating your own budget plan will help you to keep track your finance until the end of the year. This is the simplest resolution that can be done. You can plan to manage your finance and expenses so that you are able to curb overspending even during the holiday seasons. With a budget plan, you can also check where your money is going, things that need to put aside for your debt payments and saving accounts. Nevertheless, it is better to create a monthly budget plan. In this way, you are able to track your expenses easily and figure out areas on things that you can start saving.

These are the tips that will help you to reach your financial goals. The key is to discipline yourself in applying these tips appropriately. All in all, we need to ensure that we are financially stable as this will enable us to attain other goals in life. Money is important to us in a sense that we need to be accountable with the money we earn and save enough for a better future.