For umpteen years now, every December, you resolve to save more money, pay down debt and spend less. If you’re similar to most people, you will have definitely broken the promises by the time it was February. But now that we’ve stepped in 2017, you need not feel disappointed as the behavioral experts say that there are different ways in which you can do things in order to achieve success financially. Are you interested in achieving the goals that you set in 2017? If answered yes, here are the points that you need to take into account.
Start off small
When you begin planning, make sure you start with simple and small financial goals as this is the best way of building confidence to achieve more difficult and long term goals. Majority of the financial analysts say that starting small is smart as you need to take small incremental steps towards your goals. All this can yield bigger results than what you can anticipate. Initially plan on a single financial behavior, for instance start off with saving 10% of what you earn in a month.
Set clear objectives in front of you
Researchers are always of the opinion that writing down goals and seeing them daily in front of your eyes helps you achieve success sooner. If you have definite goals in your mind, you’re more likely to save for tomorrow. It is always good to define the goals in any way which feels comfortable. So, ultimately you have to set a clear objective in front of you. Visual people are more into setting objectives in front of them.
Set yourself important reminders
When you decide on a few goals, you should think of creative ways to keep yourself reminded of all the objectives and also keep monitoring your progress. When you have to pay off your bills on time and you seem to forget them every month, you should set yourself reminders so that your default payments don’t hurt your credit score.
Follow the WOOP strategy
WOOP is not a new word but it is rather the acronym for Wish, Outcome, Obstacle and Plan. Some eminent psychologist used to follow this procedure which was called mental contrasting with intentions of implementation. With the help of the WOOP strategy, you can set goals, identify them and overcome tough obstacles and impediments. For that you need to identify a wish which is challenging enough and which can be fulfilled, determine the best income, note down your obstacles and then create a plan to fight against those roadblocks.
Therefore, if you’re earnestly interested in spending a different 2017 where you can take care of yourself financially, you should take into account the above mentioned strategies. Apart from saving money and paying off debt, you should also get yourself covered properly so that you can get benefits from your insurance company in case of any emergency. For getting professional assistance, you can even take help of a financial advisor.
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