It’s a new year, a new you, and it’s time to revisit your financial goals! If you’ve started your journey already – great, check on your progress and keep it up.
If you need some motivation, here are five financial goals for the new year, along with two examples for each and an app recommendation that could help you achieve each goal:
- Create a financial bucket list: A financial bucket list is a list of financial goals or experiences that you want to achieve in your lifetime. These could be anything from traveling to a specific destination to buying a certain type of car or house. Creating a financial bucket list can help you stay motivated and focused on your financial goals.
- Example: Save up to take a dream vacation to a specific destination.
- Example: Make a plan to buy your dream home in the next 5 years.
- App recommendation: Todoist is a task management app that can help you organize and track your progress towards your financial bucket list items.
- Save for a big purchase: Whether it’s a down payment on a house, a new car, or a once-in-a-lifetime trip, saving for a big purchase can be a rewarding financial goal. Decide on your target purchase, set a savings goal, and create a plan to reach it.
- Example: Save for a down payment on a house.
- Example: Create a plan to save for a new car in the next two years.
- App recommendation: Qapital is a personal finance app that can help you save for specific goals and track your progress towards them.
- Start a side hustle: If you’re looking to boost your income or try something new, consider starting a side hustle. This could be anything from freelance work to selling handmade crafts on Etsy. A side hustle can help you bring in extra money and achieve your financial goals more quickly.
- Example: Offer freelance writing or design services on a platform like Upwork.
- Example: Sell handmade crafts or vintage items on Etsy.
- App recommendation: Fiverr is a platform for finding and offering freelance services, which can be a great way to start a side hustle.
- Learn about personal finance topics you’re interested in: Are there specific financial topics that you’re curious about but haven’t had the chance to learn about? Make it a goal to dive into these areas and expand your financial knowledge.
- Example: Learn about real estate investing.
- Example: Learn about Options Trading at OptionsAlpha.
- App recommendation: Khan Academy is a free learning platform that offers courses on a wide range of personal finance topics, including investing and cryptocurrency.
- Focus on financial wellness: Financial wellness goes beyond just saving and investing. It includes things like reducing stress, having a healthy relationship with money, and feeling in control of your financial life. Make it a goal to prioritize your financial wellness this year by finding ways to manage stress, build healthy money habits, and create a sense of financial security.
- Example: Implement a stress-reduction routine, such as meditation or exercise.
- Example: Create a system for tracking and paying bills on time to reduce financial stress.
- App recommendation: Headspace is a meditation and mindfulness app that can help you reduce stress and improve your overall financial wellness.
I hope these app recommendations and examples are helpful! Let me know if you have any questions.