The best thing about goal setting and starting fresh in the New Year is that everyone can do it. Regardless of income, if someone sets a goal and determines simple actions needed to accomplish that goal, it’s possible!
One resolution that most people seem to make every year is to get out of debt, which is a great goal to have. But, without the proper goal setting strategy, it’s easy to give up or revert back to old spending habits.
This year, stick to your resolution and your goal of living debt free with these simple and effective tips:
Save loose change. Think about it this way, putting aside $.50 per day will allow you to save nearly $250 a year!
Keep track of your spending. Determine what type of method works for you – from online options like Mint.com that automatically track your spending, to keeping an envelop with receipts. Tracking your spending will help show where your money is going and in what areas you can save.
Start a budget. Once you have an idea of what you are spending (see tip 2) create a budget that can help guide your spending and saving decisions in the future.
Think over each expensive purchase for at least 24 hours before actually buying something. This will help eliminate impulse purchasing and will leave you with far fewer regrets and far more dollars in your savings account.
Bundle your insurance. Most people may not know that bundling their insurance policies can save money! Contact your insurance agent (844-272-0525) and discuss the kind of rates you can receive if you move all your policies to one insurance company.
Reach your goal
Reaching a goal, or in the case of this blog, the goal of financial independence, has nothing to do with luck or magic. It’s simply a matter of setting good financial goals and making simple changes that will help you reach them. Working towards your goal will become part of your life, as will achieving financial freedom.
How do you plan to reach your New Year’s resolutions this year?
About Ryan Ruffcorn
Ryan grew up in Keokuk, graduated from Keokuk Senior High, and started his agency in Keokuk from scratch in 2003 after having worked for one of the largest international accounting firms, KPMG, LLP.
Ryan is hardworking; his loyal and trustworthy character is exemplified by the way he does business. He thoroughly enjoys helping clients through the insurance buying process to secure coverage for their most valuable assets.