9 Financial Goals You Should Set to Boost Your Income
A few days after the end of the year, we began to count our goals for a new year. How many did we meet? How many did we miss?
Generally, we set annual goals such as: Lose weight, travel, spend more time with the family, etc.
But what about our financial health?
In most cases (there are exceptions) we arrive more in debt to the new year than with goals achieved, that is why this year we have decided to make a list of resolutions that will help you achieve your financial goals and end the year even better than this.
Nine Financial Goals You Should Set to Improve Your Income
- Be Up To Date With The News From My Country
In addition to being important to know what is happening in our country because as citizens it is incumbent on us.
Remember that if you are or want to be an investor you must know the panorama of your country, this to take advantage of all the opportunities that arise at the right time.
- Learn To Manage My Money
This is one of the main problems of many of us: the intelligent management of our capital.
That is why this year, to fulfill this complicated task we share some of the important points to administer:
- Set a monthly budget.
- Set aside at least 10% of your income to save wisely.
- Pay off your debts as soon as possible.
- Save Wisely
Saving is so important. Do you know why? Sure, we’ve grown up with the idea of ”Saving” our whole life, but has someone ever told you how to save wisely? This year, set a clear goal for yourself: save so that your money grows and gains value.
Ways you can do this:
- Opening a savings account in the bank with good yearly achievement.
- Investing in real assets.
- Create An Emergency Fund
It is very common in these times that we set goals such as “buy a new car”, “go on a trip” but it is very rare that we think about creating an emergency fund, a key piece to have healthy finances.
You must have saved the equivalent of between 3 and 6 months of your expenditures, depending on your risk: type of work, location in which you reside, health condition or if you have someone who is financially dependent. Start by creating a seed fund of:
- $ 10,000 if you earn less than $ 6,800
- $ 15,000 if you earn between $ 6,800 and $ 11,600
- $ 20,000 if you earn more than
- $ 11,600
It is important that you keep this money in instruments that allow you to have cash when you need it.
- Increase My Capital.
It’s not just about keeping your money intact, it’s about growing your money each month to reach new goals and objectives.
We recommend that you take your savings from under the mattress and put them to work in an investment instrument that generates returns and that makes that “saved” grow, little by little.
The significant thing is that, at the verge of the year, your capital has multiplied through interest and earnings.
- Start Your Own Business.
This new year is the ideal time to be able, as a good person with financial health, to have an extra source of income and, what is better than having your own business?
Bear in mind that, this is one of the objectives that you must implement once you have achieved most of the previous goals.
- Invest In My Assets.
Contrary to what most people think, Investing in your assets, does not only mean buying a house, there are many ways to do it, some of the things you can do are:
- Invest in cryptocurrencies.
- Buy a house.
- Purchase life insurance.
- Diversify My Investments.
One of the main characteristics of a good investment portfolio is diversification, as they say “don’t put all your eggs in the same basket”, always seek to move your investments in different instruments.
Some of the best options are:
- Real assets.
- Liquid goods.
- Share My Successes With The Family.
And what can not be missing, share the successes with family and loved ones. Every good investment has a great purpose behind it, what better way than to share that joy with those who helped us fulfill them?
These are some of the financial goals that you can set this new year and that will surely help you improve your income.
Remember that at Yabamusicng we have different investment options that can help you navigate the path to financial success, if you want to know them you just have to contact us.