+1 vote
in Financial Freedom by (530 points)
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A common trait of successful people is the willingness to look ahead and plan, dream, and set goals to achieve.
Start with this question: What is your biggest goal for 2022?
What kind of life are you trying to live? What are your financial goals? What are your plans for achieving the life you desire?
You don’t have to answer all those questions today, but you should start thinking about them.
If you don’t, a year from now, you’ll be right where you are now.
A good place to start is by increasing your financial education and hearing new ideas and strategies. And you can do it today!
by (260 points)
It is a great question for 2022 but your description is self explanatory to your question.

2 Answers

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by (950 points)

Creating goals is something that is hugely popular on January 1st obviously, but what about the rest of the year we all make goals of what we want being independently wealthy have more vacations and travel more or even change careers.

But we have to find out how to achieve those goals we are big fans of setting goals and find them instrumental to our success if you're not sure what kind of goals to set we will run through some simple financial goals that you will want to implement this year.

Emergency fund. An emergency fund is a stack of money that you have in case of emergencies how much money you put in your emergency fund is up to you and should be whatever amount makes you feel most comfortable it is typically recommended that you start with 1 000 or 3 months worth of expenses you want to be able to easily access your emergency fund but we'd also advise you to keep it somewhere that you won't dip into it setting up savings funds for other things that you will need to pay for is a good idea and try to leave your emergency fund alone until you need it an emergency fund is a good short-term goal which can have long-term benefits

Start a simple monthly budget if you haven't got a budget in place already creating one will put you in the best possible position for 2022 in the future a lot of people think of a budget as restrictive but it's actually the opposite a budget isn't just writing down your bills but putting together a complete financial plan for your life learning how to manage your money is one of the best things that you can do you will start with writing down your bills of course but then you will need to work out how much you are spending on your other expenses look back through your bank statements and add up how much you have been spending in other areas such as groceries and entertainment this will put together the fixed expenses and variable expenses of your budget you will then get your income and subtract the expenses above the money that is left over should go towards your goals such as paying off debt or savings

Reduce expenses this is a good next step to come to after creating your budget you will have a list of your expenses both fixed and variable you can go down the list and choose some expenses that you can cut you could start with your bills shop around and see if you can find what you currently have for a lower price or maybe you could cancel some things that you don't really need altogether when it comes to your variable expenses it needs to be realistic as outlined in the step above these numbers come from what you are actually spending you may want to set yourself a little challenge this could be something like picking two expenses per month to reduce living a bit more of a frugal life can dramatically reduce your costs but still let you have a good time

Start a side hustle money making side hustles are becoming more and more popular as people realize that you can make a lot of money outside of your nine to five we are huge fans of the side hustle and have had some very profitable ones the side hustle that you choose will depend on what you enjoy and how much time and money that you are able to put into it you may feel like you don't have a lot of time to start up something new but there are lots of students and moms who are starting upside hustles and getting big success even if you don't want to start something massive it's a good way of generating extra income that you can use towards your goals starting a side hustle and wanting to scale it up is a great long-term goal you could start off with something small such as surveys or babysitting or if you want to do something bigger try dog walking or teaching English online.

Pay off your debts quickly a major goal that you should concentrate on for 2022 is paying off your debt as soon as possible if you don't have debt great feel free to skip past this step with the total US consumer debt that's not including mortgages or student loans in a figure of 13.86 trillion dollars there are a lot of Americans who are in debt there are many reasons for paying off debt but we feel like the main one is that it holds you back what could you do with the money that you are currently putting towards your debt there are a couple of popular methods of paying off debt called the debt snowball method and the debt avalanche method one focuses on paying off the debt with the highest interest rate first and the other with tackling the smallest debt amount first auto major savings this is something that is essential to set up if you are someone who struggles with saving the best thing about setting up:-

Automated savings is that you don't have to think about it often thinking about whether we should move money to savings or not ends and is not taking action set up an automatic savings transfer with your bank that happens right after getting paid so you are used to the money not being there to spend

Save for retirement this is definitely an important goal for 2022 it's one of those goals that you think of retirement is ages away i have time dash and then you look at some math and you quickly change your tune before you even start saving for retirement we recommend that you go on to a retirement calculator and fiddle about with some numbers when you start looking at how much you need to save each month to retire by a certain date saving for retirement suddenly becomes a whole lot more exciting aiming for early retirement is a good goal to have too as you don't know what will happen in the future even if you decide you want to carry on working it will bring peace of mind to know you have the cash there money can be used as a tool to ensure that you and your family live a safe happy life ignoring your finances only leads to stress and worry if you are organized and have a plan these goals will be easy to reach by following a plan and having good goals you could even reach early retirement or do the things that you've always dreamed of doing such as traveling the world or buying your dream home 

by (260 points)
Wonderful dude.
0 votes
by Conversational (1.8k points)
i have decided to become lecturer. i wanna buy a reasonable car for my personal use and i have renovate my house as well. have to do a lot of brand shopping so that means i need to have a lot of money to do all such stuff..
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