5 Financial Targets to Aim for in 2017
How has 2017 started off for you? If you have already found that you are struggling to stick to your latest financial resolutions then maybe it is time to re-assess your targets.
So, what are the top financial targets that you should be aiming for this year? The following are 5 that you should definitely think about sticking to.
Pay Off Your Credit Card
The advice to pay off your credit card balance is something that you have probably read on more than one occasion. Yet, forecasts for 2017 suggest that overall credit balances are likely to rise again this year.
Even worse is the suggestion that credit card interest rates are also on the way up in 2017. Really, if you currently have any sort of credit card balance outstanding then paying this off should be your number one priority for the year.
Save More Each Month
It can be far too easy to find reasons for not saving money each month, can’t it? In this way, by the time August or September comes around you can find that the best part of the year has slipped by without any extra savings being made.
To avoid this happening to you in 2017, you should look to save as much as you can each month right from the very start. January is often a tough month financially but if you can save a decent amount this month then the year is off to a fine start.
Start Your Pension Fund
Have you been putting off starting your pension fund? It is easy to think that you are too young or that there is no point in doing this just yet. However, by starting off right now you can make a big difference to the amount that you eventually receive in your pension. Even just one extra year of saving can make a difference to your eventual retirement pot, so be sure to start investing or set up a pension in 2017 so that you can maximize your income during retirement.
Start Your Emergency Fund
If you have been lucky enough to never run into an emergency then you might think that it is something that will never happen to you. However, without wanting to sound too dramatic, you just never know when something might happen to you or your family.
This means that you need to think about setting up an emergency fund that could help you out of a sticky situation. Hopefully you will never need to use it but having it there will put your mind at ease anyway.
Get Started on Achieving Your Dreams
If the previous points all sound a bit too practical to you then maybe you need a financial target that truly inspires you. In that case, the start of 2017 is the perfect time to think about what your financial dreams are and how you will make them come true.
After all, you stand a far better chance of reaching your goals if you have a clear idea of what they are. The first step is to sit down and imagine what kind of life you want to live, before working out how to make it come true.
Rather than just counting dollars and cents try and see how every good financial move takes you closer to where you want to be. We all want different things from life and it is by taking control that we can get to where we want to be.
You are unlikely to realize all of your financial goals in 2017. However, why not make this the year in which you get on the right track and feel that you are inching closer to get your dream lifestyle.