By this time in every new year, there have been so many goals made by people who proceed to abandon them.  There are so many reasons why.  The primary reasons though is “Life Happens” and the goals were too ambitious.  Some of those goals are financial.

Let’s talk about financial goal setting.  Here are some steps to create attainable financial goals:

1. Start small.
2. Be realistic on the changes you can make now to allocate money to your goals.
3. Think Long Term.
4. And, if you need help determine if your goal is achievable, talk to a financial professional.

Those are the steps; it’s simple. Here are ten strategies to achieve your financial goals in 2022:

1. Start an emergency fund.  And, don’t dip into it unless it is an emergency.
2. Make a small change to your retirement savings plan right now by increasing your contribution rate by 1%.  This can normally be done online within your plan.
3. When you get a pay raise this year, contribute half of your raise to your retirement plan by increasing your contributions.
4. Consolidate your debt using the best available source with the lowest rate of interest.  Keep making the same payments though even if the new payment is lower with the lower interest rate.
5. Shop for better pricing on ALL your insurance; life, homeowners, auto, etc.  Save the difference in money you saved with the reduced premiums into an emergency fund.
6. Get your tax return done early.  And, make adjustments to your withholdings or quarterly estimated taxes for 2022 if you owe money in 2021.  If you are getting a refund, invest some of it.
7. Look hard at your investment accounts.  See where your money is invested.  Create a personal investment policy statement (IPS).  Then see if the IPS you created is how your money is invested.
8. Be realistic about when you can retire and start planning for that no matter your age.  Retirement will come and you can start planning too late.  Think long-term.
9. Don’t play with your money in day trading or crypto currency if that money is needed for your daily living.  You can lose money by getting into this without a back up plan.
10. Consult with a Financial Planner.  They are available to help on a consulting basis.  To find a financial planner in your area, go to www.letsmakeaplan.org or contact me.