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New Years goal setting
We all know everyone makes resolutions they don’t stick to each January. But setting SMART and clear goals can help you move towards them easier than a lofty vague resolution. Instead of being vague and unclear, your new years goal setting can be impactful and actionable.
Have you set any financial goals for yourself this year? It is important to write down your goals and figure out how long it will take you to reach them and how much you need to set aside to so do. That is why I created the Free Financial Goals Planner to help you clarify the steps toward your own goals!
How to set financial goals
We all know about SMART goals, but how do you know what the steps should be in order to achieve a certain financial goal? We need to break down our large financial goals by dividing them across the time horizon we have until we need to be spending the money.
When you download the Financial Goals Planner, you will be able to identify your short, medium and long-term goals, then figure out how much you need to contribute on a monthly basis to meet them.
My personal goals this year
My goals for 2022 are smaller and more manageable since I have an infant to care for, and I am on a reduced budget while on maternity leave.
My house goal is to declutter our home. Minimizing what is in our storage area to only the things we really need, so I can sell or donate the rest. As our daughter grows we will have more things to keep and store, and the space can be better utilized. I plan to have at least 1 day each month where I focus on decluttering and taking our donations to the goodwill. I have already been able to make a sizeable clothing donation to a women’s shelter from all of the infant clothes baby has grown out of. We also received many hand-me-downs we received but couldn’t use.
My financial goal this year is to invest at least $12,000 into my TFSA account (Tax Free Savings Account). We have planned and budgeted in advance for my time away from work on maternity leave. We should be able to cover all needs from the Baby fund we built up over my pregnancy. I have planned out my monthly contributions in my budget to reach this goal. The Financial Goals Planner document shows me I need to contribute $1,000 a month to reach my goal. Therefore that amount gets put in my budget each month and I focus on paying myself first.
Finally, I want to continue to grow my digital offerings. I am working on improving my digital finance products. Also, I am focusing on ways to increase my blog traffic through learning SEO.
My goal is to have enough sales this year to cover the costs of my blog. So that the following year, I will start to turn a profit. If you haven’t checked it out, you can take a look at my ETSY store here. My goal is to create products that help you to better learn to manage your finances and track your financial health over time.
If you are new to the blog please comment below to say hello and let me know what are some budgeting or finance products you would like to see?
For more blog topics like this, check out the Personal Finance and Investing Section of our blog.