3 tips for planning for financial success in 2020
In the spirit of the famous words by Ben Franklin - “By failing to prepare, you are preparing to fail.”, this Sunday has been all about planning for the year ahead. Results come from those small, consistent steps towards your goals, so we need to give those steps a direction. Where do you want to be a year from now? Be ambitious yet realistic and get planning! Here's our top three tips for planning for next year.
You always start by assessing what you achieved this year. This will show you what came easy, what methods that kept you focused, and which areas you need extra discipline or tools to work on. The areas you have neglected might be a priority for the year ahead, e.g. if you were more excited about investing and paying off debt this year, you should now prioritise building up your emergency fund.
What gives you that overwhelming feeling of motivation and excitement? If you incorporate this into your goals, you will find it easier to work on them consistently. Is the thought of being debt-free what keeps you going? Focus your goals on getting you closer to it! Are you fantasising about a diversified, ethical stock portfolio? Make it your priority!
3. PEN TO PAPER
Research shows that writing down your goals increases your chances of achieving your goals by 33 per cent, compared to merely formulating outcomes in your head. Download and print out my free Preparing for 2020 template and get started! A dedicated notebook for goals, gratitude lists, intention setting and general journaling is also a good idea.
How are you planning for the next decade?