As 2016 winds down, I think of all the financial goals I had set for myself this year. Although I had very lofty plans I did actually meet a few of them so that’s great. However, a lot of my goals were derailed my bad choices and unexpected events.
Regardless of how much you plan, there is always an unexpected turn to your life. It might be a health crisis or another unplanned expense. Sometimes life just depends that you dip into your savings. It might not even be for you but a family member or friend might desperately need financial support.
The biggest challenge is to avoid random spending and one way to do this is to avoid window shopping. I can’t count how many times I ended up buying something I didn’t need just because I saw it on display for a great price.
Shopping in large groups might be recommended for security reasons but it can also destroy your budget. If your friends love to shop they might convince you to buy something that you really can’t afford. Pride can also come into play as you don’t want to admit to your friends that your funds are low.
Another issue that consumers have to face is that prices tend to fluctuate so the money that was allocated for something initially now can not cover the cost.
At this time of the year people are home from work and school. This means more groceries need to be bought or more money spent eating out. The cost of utilities will also be increased due to increased usage.
In order to stay of track with your financial goals it is important to be focused. If you continually think about what you want to achieve whether its to own your own home or complete your education, then it will be more difficult to buy expensive clothes or gadgets.
Another good idea to achieve your financial goals is to involve your friends and family. Let them know your financial situation so that they will be there to support and encourage you. That means less pressure to buy when you go out shopping with them.
Finally it all depends on you, just because you are on vacation doesn’t mean that your budget needs to be, so find ways to save. Try to eat out less and make more home cooked meals. Why not turn leftovers from dinner into great lunch ideas? Remember to turn off the lights and television when you leave a room.
You can achieve your financial goals this year!
So what goals do you have for next year? Drop me a comment below!
Teri Ann Renee Paisley
Gleaner online writer