After what felt like a lifetime, 2021 has drawn to a close and we welcome the New Year with arms open wide…arms open very wide! Many of us already find ourselves wanting to forget the past and focus on our new aspirations and goals for 2022; however, we need to take the time to reflect on the previous year to ensure our success moving forward.
Don’t worry if you’re unsure of where to start, or if you have a mountain of unorganised tasks looming over your shoulder. Use our New Year’s Financial Resolutions tips to get yourself on track to a successful year.
Yes, you probably guessed this one. Ask yourself the big questions to get a sense of your achievements from the previous year. Write these down and use them as your goals reflect on a few months down the track. You can also use them to reassess your progress and keep yourself accountable.
2. Decide what you want to achieve
This is where you can choose your starting point using the information you gathered above. Do you want to pay off your debts? Maybe begin a savings plan for a new car or a holiday? The most important thing here is to be decisive in what you want to achieve.
3. Set a budget
Set a realistic budget to understand and identify the unnecessary areas of your spending and help you keep your eye on your goals for the year.
4. Tidy up your filing cabinet
Save yourself confusion and time by clearing out any old and unneeded records or paperwork from your filing cabinet and implement a system which is clear and easy to use.
5. Review your paperwork
A good place to begin when reviewing your paperwork is with your insurances. Are your insurance policies up to date and appropriate for you?
Following these few steps is a great way to start setting yourself up for a successful year. If you’re unsure of where to start or go from here, contact our team at Magnify Wealth on 07 4688 8400 and continue working towards your goals for 2022 and beyond!