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Making and Keeping Financial Goals for 2016

goals

If you’re wondering the fourth month of 2016 is too late to think about, you’re wrong. It’s never too late to start picking up the slack on your finances. Maybe you just haven’t had a chance to get around to organizing in the last four months. Or maybe because you couldn’t do it in January itself, you just kept postponing because it didn’t feel right. Whatever the reason is the fact of the matter is that you’re yet to make any financial goals for the year and we’re here to tell you why there is no time like the present to get to it.

  • A mere quarter of the year has passed. You still have nine whole months to get through before you can move on to the next year. Anything can happen in these nine months. Any financial emergency might occur which will lead to unexpected spending so if you’re not careful about how you handle your money and allocate different portions to separate activities you are bound to regret it later.
  • A new financial year is about to begin. Even though it’s been three months since 2016 started, the new fiscal year is just around the corner. It’s a great time to sit with the books and map out a financial plan for this fiscal year so that you can keep accounts of how much you spent and how much you’re willing to spend in the coming year.

When you’re setting financial goals for yourself make sure to include all the aspects of your annual income and expenditure. It’s essential to remember to cover all the bases while you’re making plans so that you don’t end up inadvertently account for a lot more money than you’ll get to keep.

It’s also important to be realistic to while setting goals. Letting your imagination run wild with what you can get done with what you make can never lead to anything good. Look at your plans for the previous plans, make a note of your general financial condition and the money you currently have and can reasonably expect to have at your disposal before putting in place goals for yourself.

Keeping goals is all about following through on what you decide for yourself. If you’re careful in the planning stage, keeping the financial goals for 2016 should be a breeze once you set your mind to it.

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