Creating finance goals
So, you read our budgeting blog post right? If you haven’t, you should. We’ve included some tips here on the process of getting your finances organized.
How to create a financial plan
Figure out goals
Gather your info
Assess and analyze
Benefits to having a plan include beating bad habits and figuring out priorities.
Making long-term and short-term goals
Long-term goals are typically big-picture costs. These can take several years or even a decade to reach. Examples include:
Buying a car
Saving for a down payment on a house
Paying off a mortgage
Starting a business
Short-term goals are your more immediate expenses. These generally are things you will spend money on within a few months or a year. Examples include:
Going on vacation
Credit card debt payments
Saving to pay out of pocket for that summer class, study abroad, next semester's books or tuition cost
An emergency fund is a stash of just-in-case money. Why have one? It helps if you:
Lose your job
Need emergency repairs
End up in the ER
Rule of Thumb: Save three to six months of living expenses
Set up Autosave
Fund before other goals
Keep in savings account
Adding these simple tools into your budget or savings plan will help create healthier financial habits and ultimately lead to more savings and less stress in the future.
Getting out of credit card debt
March 14, 2022
A blog post with tips on getting out of credit card debt.
20 financial terms you should know
March 2, 2022
List of 20 financial terms to learn
Cutting down on expenses
February 14, 2022
A blog post about how to cut down on expenses.