It’s 2022! And You made it here! Great.
New year, new you, and new financial goals also. If you’re kicking off this year with resolutions, goals, and plans on how to make the best of it. You should consider adding some financials to it, also.
The last year may have been great or otherwise, but it’s important for all of us to reset our financial goals this year. Of course, in the new year, we’re always bubbling to create all kinds of goals, even financial ones. However, be sure to set realistic goals that would help you attain the bigger ones.
Determining your financial goals is the first step to living a finance-healthy life. And since you’re reading this, my mind tells me you are ready. Let’s go!
Living a financially-healthy life in 2022 is anchored on these five points:
- Repay Debts
- Start Budgeting
- Start Saving
- Learn about Money and Finance
- Start Investing
REPAY YOUR DEBTS
“A habit of debt is very injurious to the memory.” — Austin O’Malley
If there’s a goal you want to prioritize above others in this financial stride, it is to repay all your debts AND STAY OUT OF IT. The good news is budgeting your finances can help you with repaying your debts.
Repaying your debts is super important as it helps you gain control of your finances. When your debts are repaid, you can spend on the things you enjoy without having any guilt.
To start, make a debt payment plan. It’d provide you with all the debts you have outstanding and the means to pay them. And then make a commitment to stick to this plan. It’s not easy but the effort is totally worth it. You may want to take up side gigs or a second job to repay the debts faster.
START BUDGETING
“A budget is telling your money where to go instead of wondering where it went.” ― Dave Ramsey
Budgeting is one of the most helpful financial habits that we all can use to take hold of our finances. Sadly, many people don’t create budgets. Some people make a whole lot of money but struggle financially because they do not know how to manage their money. Budgeting is a two-part exercise; creating the budget and then sticking to it.
Budgeting is important because it helps you plan your finances, track your expenses, save more money, and even keeps you on track for your financial goals.
The only rule to keep when working with a budget is; DO NOT GO OVER THE BUDGET.
Repeat after me…”I will create a budget”
START SAVING
“Do not save what is left after spending; instead spend what is left after saving.” — Vitthal Shinde
If there’s a quote that should live in your head rent-free all through 2022, it should be this. Saving is really important. And it’s the first step to taking a hold of your finances. Saving comes before spending.
We hear about saving all the time, as it’s one of the most repeated pieces of financial advice out there, but many of us ignore it. Maybe because it requires discipline and consistency, and trust me I know it’s easier said than done, especially when you have bills staring you in the face. But saving is great because it gives you freedom. There is so much advice about how much of your income should go into saving, but it totally depends on you. Just ensure, it’s not so small that it can’t do anything and it’s not so large that you’re struggling to live and stashing up money in the bank.
At wealth.ng, we make it easy by providing fixed income products focused on savings. You can get started with a minimum of #1,000. Start Saving Now!
LEARN ABOUT MONEY AND FINANCE
“An investment in knowledge pays the best interest.” — Benjamin Franklin
Financial education is indispensable for a successful life and growing long-term wealth.
Consistently throwing yourself into finance-related resources and consuming them helps you become financially smarter.
Learning about money and how it works ultimately leads to a better life. The knowledge of money helps you make more money, save more, invest more, and generally live a better life.
Lack of financial knowledge can bring hardship to one’s life through debts or lack of savings.
At wealth.ng, we know how important it is for individuals to be financially literate, and that’s why we’re making plans to invest more in our Blog (Wealth Corner) this year. Over the course of the year, you’ll see more articles spanning money & investment tips, spending, How-tos for investments, a detailed breakdown of complex investment tips, and finally investment stories. Subscribe to our Blog now!
START INVESTING
“Never depend on a single income, make an investment to create a second source.” ― Warren Buffett
The truth is there never has been a millionaire, who got their wealth by investing in a savings account. While savings are great like you’ve seen above. The way to grow lasting wealth and make your money work for you is through investing. If you’re aiming at financial security and independence, then the way to go is investments. Investing allows you to put your money in vehicles that have the potential to earn strong rates of return. Anyone who doesn’t invest is missing out on a lot of opportunities to increase their financial worth. Of course, that doesn’t rule out the fact that anyone can potentially lose money in investments that are fictitious or not done right. However, for a wise investor, you can make much more than never investing.
At wealth.ng, our first and last names are Investing. If you call out investment three times, I can assure you will appear. We offer investment products like Treasury Bills, Stocks, Bonds, Eurobonds and Agriculture. You can manage and monitor your investment in real-time and see how much interest you will get when your investment matures. Sign up on wealth.ng today to start growing your wealth.
“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” — Robert Kiyosaki.
Let’s help you hit your financial goal this 2022!
Grow Wealth with ease on Wealth.ng
