- Advertisement -
Friday, August 7, 2020
Home Money 6 steps you can take right now toward your financial goals

6 steps you can take right now toward your financial goals

- Advertisement -

If you’re curious about the spending/saving trends among our generation, check out the 6 steps you can take right now toward your financial goals

The goal: Long-term saving

Via Better Money Habits



RELATED POST:  WAYS TO IMPROVE EFFICIENCY IN THE FINANCE DEPARTMENT( INFOGRAPHIC)

“It’s like taking care of your physical wellness and fitness – take that step and start today. If you weigh yourself every day, you’re much more likely to stay fit because you’re monitoring. With online tools now, you can manage your day-to-day finances, set your budget, pay bills, monitor investments; everything is right there in your hand.”

Try this:

  • If you’re not in the habit of putting way savings, it’s okay to start very small. Can you put 1% of your take-home pay into savings this month?
  • Look back at your transactions and count how many times you ate out for lunch in the last two weeks. Can you subtract that number by 3 in the next two weeks?
  • If you’ve already set a budget, it it realistic? Check in on spending from the past two months to see where you might need to adjust.  

ALSO READ:  SWISSCOM SELECTS ERICSSON TO BUILD ITS 5G NETWORK

The goal: Buying a house

Bank of America app mobile - appointments

ALSO READ:  CHINA HAS A REAL TECH EDGE OVER THE US, AND IT’S CULTURAL

“I’ve spoken with millennials who are in the process of buying a first home and had no idea where to start. They were overwhelmed with the volume of information available online. My recommendation is to complement online research with a conversation with a mortgage specialist. When contemplating a big ticket purchase like a house, it’s important to get advice in person and talk through options and questions. After all, millennials are doing this for the first time themselves. A lot of them have parents who bought homes, and they probably weren’t part of the process.”

The goal: Continuing your education

courtesy of The Iron Yard

“I took out student debt to go to grad school, and it’s the most worthwhile investment I made in my career. Understand your loan options, and learn about the different repayment plans. … Then make a plan to offset day-to-day costs like eating out all the time, carpooling or using mass transit.”

ALSO READ:  ALPHABET’S WAYMO IS ABOUT TO LAUNCH DRIVERLESS CAR

The goal: Preparing for kids

Photo via Erik Bishoff

“I’ve read between birth and college it costs $250k per child before college with feeding, clothing, etc. How many are you thinking of having? How many years before you start having them? What are your education preferences? … You need to be thinking about your budget, how much it costs. Think about life, health, disability insurance, think about what your employer provides. Think about a safe plan, too. What happens if you get sick or even die? It starts with educating yourself — it’s an important step.”

ALSO READ:  5 TIPS THAT WILL HELP YOU LAUNCH YOUR STARTUP



The goal: Educating your kids

via Better Money Habits

“Only 25% of millennials had open dialogue about finances with their parents, and that’s shifted to 50% talking to their own children. It’s all about including them in the family economy. Is there a bill you can make them responsible for? I recommend that kids have responsibility for something in the family budget. Challenge them – see if they can figure out ways to save money, like reducing the power bill or finding deals online.”

ALSO READ:  SPINE DAMAGE PATIENTS COULD LEARN FROM THE ROBOTIC SKELETONS, HOW TO MOVE ONCE MORE

The goal: Living a balanced life

pool inn at palmetto bluff

“Leisure is a priority for everyone, enjoying life and taking in the here and now… Assess what’s important to you and take a step back so you’re not hamstrung by your own lack of planning. Throughout your life, you’re going to experience new life events — some planned, some not — that will affect your finances, and we have experts who can help. In the end, be deliberate about living for today while planning for tomorrow.

Source by: Better Money Habits

- Advertisement -

1 COMMENT

  1. I did notice that scene, and it was a nice moment between brother and sister.I will make sure to pay attention to other scenes that she will be in from now on. I really want to like her; I just ha#93&v0ne;t gathered enough info about her to feel much of anything quite yet. P.S. Love your handle.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

blank
- Advertisement -

Stay Connected

Must Read

4 Types of Business Opportunities in Entrepreneurship

Do you wish to become a successful entrepreneur? Are you currently working as a full-time employee, and are keen on trying a new venture?...
- Advertisement -

5 Best Investment Apps of 2020

Are you searching for the market’s best investment apps? Do you wish to build your career in trading? If yes, you need to handpick...

Four (#4) Types of Franchise Businesses

By definition, franchise businesses are all about following a reputed brand, using its methods of business, and paying a small fee to the “Franchisor”....

Does Network Marketing Really Work?

If there is a marketing model that has been around for decades, it would be network marketing. This marketing strategy is all about selling...

All Time Random Articles

Three Factors in an Office Environment That affects Productivity

It is very difficult to predict human behavior. And, if you are amongst hundreds of different personalities, the situation gets tougher. In an office...

How to Start a Business in Dubai

Being the commercial capital of the United Arab Emirates, Dubai is the perfect place for starting your new business. We’ve all heard stories about...

12 Essential Elements of a Social Media Marketing Strategy

Do you need some help to get started with your social media marketing plan? If you want to attract and engage social-media fans and followers...

How to Make Effective Business Decisions

Even a complete layman knows that the key to success in business lies in making the right decisions at the right time. Now, to...

Top Startups in Education

One of the most popular sectors in today's world is the education industry. This industry becomes very popular among many people these days. The...
- Advertisement -
Select Language »