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.
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
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