2021, the beginning of everything better. It’s time for us to put everything back to control, our personal goals, relationships, careers and of course, our financial situation. Creating a money master plan is a great way to effectively manage and grow your money in 2021.

Your New Year Money Master Plan - tip to create your new year resolution
Source: EMUCoupon

Step 1: Take a look at your past habits

The first step is one of the most important steps in your new year money resolution. Look back at your bank statement and money spending habits. Ask yourself: ” where did my money go”, “what did i spend on the most?” and “Can i cut down on the budget?”

Step 2: Review your causes of money spending

The next step is to look at why you spend your money, was your spending patterns based on emotions or a reasonable causes? Make a decision on whether you would like to keep this pattern or change it.

Step 3: Set a S.M.A.R.T goal

Not a simple ” i want to save money” but setting your goals more:

  • Measurable ( how do you measure your success?)
  • Achievable ( which steps are taken to achieve your goals?)
  • Relevant ( why this goal is matter to you? and why you would like to achieve it?)
  • Time-bound ( set a deadline to motivate yourself to stay focus and work toward. 

Step 4: Your motivational list

Make a list of all the activities that you want to do with your money. This list will keep yourself motivated and reminds you of why did you start in the first place.

Step 5: Create your master plan

Write your money master plan in your notebook, your vision board or downloading some budget apps such as Mint and Pocketguard.

Looking to improve your personal finance? Check out our tips to sell your jewellery for the best value here.


1 Comment

Rene Fiedler · March 5, 2022 at 8:52 am

It’s nearly impossible to find knowledgeable people for this topic, but you seem like you know what you’re talking about!
Thanks

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