Financial Goals YOU Can Make For 2020!

December 19, 2019lifewithcattitude

A new year is always a time to make changes, but how bout a new DECADE, huh? I’m making my own financial goals, but I figured if any of you are looking to make your own goals, here are a few great ways to get started on your financial journey!

Disclaimer: affiliate links used, full disclosure here!

Open A Savings Account

With banking constantly changing, gone are the days of standing in line going through a painstaking process of opening an account. Nowadays, you can get on your phone and open a savings account in less than five minutes! I opened my Capital One 360 account years ago, back when they were still ING Direct. My dad helped me do it and it’s where all my graduation money went. You can link this account to other bank accounts if you’re with another company, and transfer money instantaneously!

Make A Budget

Whether you get paid once a month, twice a month, or four times a month, a great goal to start is creating a budget! When starting out, it won’t be perfect. Look at what bills/other expenses you have in the time before your next paycheck, and go ahead and subtract that. Subtract any other compulsory monthly or weekly items, then look at what you’re left with. If possible, budget yourself some fun money, then save what you can into that savings account!

Save More Money Each Month

This one can get pretty vague, so give yourself a tangible money amount you’d like to put aside every month. And I cannot emphasize this enough, it is 100% okay if it’s just $5! You don’t need to be saving hundreds of dollars a month to feel like you’re moving forward. When The Budget Mom started her financial journey, she could only save $20 a month. A little goes a long way!

Read More Finance Books

The book that started it for me was The Total Money Makeover by Dave Ramsey. However, I can recommend some other books by authors I follow on Instagram that might give you just as good a kick in the ass as TMM did for me. Immerse yourself in this knowledge, and keep reading!

Use Cash

Studies show people are more reluctant to buy things with cash, so they spend less than if they swiped a card. Whatever you budget for food or gas, withdraw that and keep it as cash. This will make your brain re-wire so that it recognizes a finite amount that you can spend. When you run out of cash, that’s it! Only borrow from other budgets out of emergency!

Pay More Than The Minimum

With all of the savings and budgeting you are doing in 2020, this will allow you to make more payments than the minimum. This is critical to paying down debt!

I know there are other goals you might have that I didn’t cover, but I hope this kind of gets the ball rolling! I’ll be back with a lot more finance posts in 2020 because I’ll be starting my journey as a financial coach! I can’t wait for it to start so I can tell you all about it! I’ll have one or two more posts for this year, but I hope you guys have a wonderful rest of the holidays!

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