No matter how much you made this year, chances are you could use more money in 2022.
But don’t wait until the New Year to take action; the key to achieving more wealth is starting right now. Take these steps in the coming weeks and next year you’ll be living your best financial life.
Review this year’s spending. Before moving on to next year, review the progress you made in 2021. Check your bank statements and credit card year end summaries to see if there are areas where you over-spent. Write down a list of the financial accomplishments from 2021 that you’re happy with, as well as the financial mistakes you made this year. Once you’re clear on what you did wrong and what you did right, you will know what to focus on in the New Year.
Set goals for 2022. Now turn your attention to 2022. Come up with one or two big financial goals that you’d like to reach. Maybe you’re finally ready to buy a house. Perhaps you want to pay off a credit card. Write down your goals and place the list someplace where you can regularly review it.
Create your 2022 budget. In order to reach a destination, you’ve got to have a plan to get there. Your budget is the plan that will help you achieve your financial goals. When creating your budget, make sure you allot some money to savings. Also, put some money toward the financial goals you set for the year. For example, if your goal is to buy a house, put some money away each month for the downpayment.
Educate yourself. Make a commitment right now to learn more about how to make your money work for you. One place you can start is through HomeFree-USA’s online courses such as How to Get Credit Ready for Homeownership and How to Buy a Home With Little to No Money Down. You can also read a financial book or find a podcast that you like.
The New Year is a time for new beginnings and a major reset. Let this be the beginning of your best financial year yet.