Setting Goals For 2015. Why Is It So Important To Set Your Sights On A Target?

Melissa Coggan - Tuesday, December 02, 2014

Have you ever watched groundhog day? It’s a brilliant movie. The main character wakes up and lives the same day over and over - sounds a little frustrating right!? Many people who come to MFS feel like they are living the same year over year by year with no progress - mortgage hasn't budged or has gone backward, the fortnightly pay falls short more often than not and they use a credit card to top up their living expenses. Christmas, instead of being a time of celebration is a time of dread as families struggle to make ends meet and have one more thing to try and cover the cost of.

Does this sound like you? Do you want to finally turn off the repeat button and make some real progress?

Here are a few tips we’ve put together to put an end to your groundhog day and make 2015 a year of growth.

  1. Understand what you spend and then take control of your spending. Take some time to actually sit down and work it out. You’ll likely be surprised by where your hard earned money is ending up. By taking this step to be in control of your finances your making the move towards stopping your finances controlling you.
  2. Set some goals. Most people do their new years resolutions, often setting lofty goals that they know in their hearts they can’t achieve and then have an excuse to give up. How about trying to set just 3 financial goals for the year, make sure they’re achievable and then stick to them. Some ideas might be to set up a Christmas savings account, pay a certain amount off the mortgage or pay a set amount off the credit card each month, regardless of the minimum. The ideas are endless. Just make them achievable!
  3. Get some help. MFS can sit with you and help you work out your finances, set a budget that works with your family, help you with setting goals and more importantly, make sure that you are on track with things like having money to pay for your children s education, pay the mortgage down before you retire, have enough money if you choose to stop working etc. Having the support of experts means you know you’re making good choices to get you on track.

All of these steps are simple. None require great expense or time, and yet by implementing them you can be comfortable knowing that you’ll be able to look back on 2015 and know you’ve made real progress in your finances. It’s not too early to get a jump start on these tips now though!