How to Meet your Financial Goals in 2015

With the beginning of New Year, people are taking resolutions and working in the direction of meeting their financial goals this year. According to the report of the Allianz Life Survey, more than 40 percent people are planning to improve their financial positions in 2015 and also want to aim better management of their money. On the other hand, more than 25 percent people have stated that they would like to get support of financial professionals to meet their goals. If you are also planning to improve your financial condition this year, then following tips will help you a lot to set your aim and meet them as well.

Meet your financial goals

Meet your financial goals

Keep your credit card away

The first step you can take to meet your financial goal is keeping your credit card away. Whenever you would go out for shopping or somewhere where you are sure to spend money, just leave your credit card at home and try to cover the outing with the cash available in your pocket or consider using your debit card. Also carry Prepaid cards & Gift cards in your pocket but avoid credit card as you won’t tend to spend the money you don’t have in this way.

Track your expenditures

Making a financial resolution and meeting goals regarding this purpose is not a tough task but you need to be smart and rigid to take steps in this direction. A very simple yet effective step in this direction is to maintain all your expenditures in written form. For this purpose, use a credit and debit diary and note down your everyday’s expenditure. At the end of the month calculate the ratio of your expenses on various amenities with your monthly income. This will let you know that what percentage of your income is being used in various facilities such as housing, education, clothing, grocery, entertainment, outing etc.

Visualization of goal

It is very important to visualize your goal as this will motivate you to work harder in that direction. Keeping your goal in mind all the time, makes you feel crazy about meeting that objective and you try to take more steps to fulfill your desire. So, write down your goal on paper and paste it on everything you pass through everyday such as on mirror, refrigerator, on study table, wrist watch, computer screen and so on.

Become financially organized

If you have tendency of becoming late in paying the utility bills of electricity, telephone and internet services, then you should just give away this habit right now. Delayed bills can not only impose extra charges on you but also demoralize you for being financially unorganized. Set a system for timely clearance of bills. Secondly, be regular to deposit EMIs of loans, premiums of insurance policies and service taxes etc. Until and unless you don’t find any other option, avoid taking loan from bank or any other lender.

Prefer prepaid over postpaid

Regarding usage of services, always opt for prepaid over postpaid offers. For example, opt for a Prepaid WiFi or Ethernet internet connection than a postpaid connection. Use a prepaid cell number than using landlines. This will help you to reduce that extra amount or money you pay after using excessive service without any intention.

Focus on savings

This is one of the golden tips of making yourself financially strong. Whether you focus on opening a saving account or you plan to save hard cash daily from your pocket, the saving you do in this way will help you ultimately. Also, review your expenses and cut off those products and services you literally don’t intend to use. Similarly, before planning for any new service or product first ask yourself that whether you really want that particular service/product or not?

achieved financial goals

Achieved financial goals

This is all about meeting your financial goals in 2015. These six tips will definitely make a big change in your life regarding financial strength.

Over to you

What are your financial plannings for the year 2015? Is there any special trick that you are planning to follow this year? Or else you are looking forward to take help from any financial advisor? Is there any other strategy available among the endless information which we should focus on to meet our financial goals in 2015? Please share your valuable thoughts with us either on our FB page or G+.

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