Written by Anita Saulite
Monday, July 18th, 2016
Getting a clear sense of direction in your life will give you the freedom to make the right choices and make your dreams a reality. Because life stands still for no one, now is the perfect time to take action by mapping out your future. Let's create a path that feels right and gets you to where you want to go. Follow these simple steps:
Go ahead and dream big. Define 2-3 personal goals, for example: Buying your first home, finding that perfect job or starting a business. Create an action plan with a timeline and mini-steps.
It's okay to spend money, but think twice. For example, life experiences trump buying stuff. Quash the temptation to keep up. Cut back on lifestyle expenses – dine in more or bag your lunch. Keep your eye on the prize: Your goals.
Pay down any non-mortgage debt, like car loans or student debt. Managing fewer obligations means saving more money. If you can't pay off high-interest debt with savings or cash, a low-interest loan is a good option.
You probably don't need 3+ credit cards in your wallet. Consolidate, save on fees and interest. Make things easy. Keep the one card with incentives that help you to grow your savings, because that means reaching your goals sooner.
Set up automatic bill payments and your credit score will thank you. Pay yourself first, with automatic deposits to a savings account, and watch your savings grow.
Try not to lose sight of your goals and dreams. Focus on the big picture and find the right mix to thrive and succeed.