Okay, so you set some new goals last week. Can you do them? Are they realistic? An important question to think about is do you have enough time and money to do what you want to do?
 
Here are some guidelines that will help with financial budgeting:red dollar sign
  1. Live within your means.
  2. Save first, spend afterward.
  3. Invest wisely – know how your dollars are being put to work – they might as well be doing something good in the world.
  4. Know how much you spend on necessities vs. discretionary items. 
  5. Plan for everyday expenses and one-off expenses as well as allowing for unexpected expenses.
  6. Treat the numbers objectively. It’s better to pay off a high interest credit card first than a low interest one.
  7. If your expenses are higher than your income you have two options – reduce the amount you are spending and increase the amount you are earning. 
  8. If you choose to carry debt, understand the consequences upfront.
  9. Use banking software (if available) to track your spending so you have an accurate picture of what you spend, not just a guesss

Right now you are looking at the whole year, but of course things can change. Reassess mid-year if needed, or if big changes happen in your life, such as a new job, raise, or large unexpected expense. 

Feel free to adjust your goals as needed!