3 Tips To End 2021 Well And Reach Your Financial Goals

The end of the year may seem like a strange time to think about financial goals, but paying attention to them can help you to plan for a strong start in 2022. This article lists some actions you might like to consider to help you build (or rebuild) habits that you can continue into the new year. 

1. Reassess your priorities

The COVID-19 pandemic has changed the way we work, live and travel, and your priorities may have shifted or become clearer throughout the year. For instance, you may have realised that you would like to move interstate or overseas to be closer to family, or spend more effort pursuing a new hobby. 

Take some time to see whether your financial goals line up with your priorities. If you do not have any financial goals, now is a good time to think about whether there are any steps you can take to help you achieve your goals in 2022. 

2. Increase your savings

Knowing your priorities can help you to determine how best to reshuffle your finances, and give you a clear purpose for increasing your savings. With the end of the year in mind, are you able to make a final push to increase your savings (whether it be so you can buy Christmas gifts for family, or to make that interstate move happen)? 

A helpful action is to look at your 2021 bank statements, and rank your purchases in order of importance. Can you reduce a few of the expenses that rank at the bottom, or see if there are ways to decrease your fixed expenses? 

3. Consider sustainable swaps

Sustainability and being eco-friendly can seem like expensive pursuits, but the upfront cost is often recouped over time as it saves you having to repurchase the same thing multiple times. Being conscious of reducing packaging when shopping at the supermarket can also be economical, as packaged food is usually more expensive. For instance, instead of buying pre-packaged popcorn, you can easily make it yourself for a fraction of the cost with less waste. Also consider carrying this theme of sustainability into your Christmas gifting, by gifting people consumables or experiences rather than objects. 

If you would like help to assess your priorities or set goals to improve your savings, partnering with a coach may provide the motivation you need. Click on the image below to book a free consultation call with our qualified complementary health practitioners.

References

How To Save More And Reach Your Financial Goals By The End Of The Year | CNBC

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