It’s no surprise that finances figure prominently among resolutions made as the clock strikes midnight Dec. 31.
But how far do they get as the calendar turns through January?
Whether your goals involve saving for a vacation, a wedding or your first home – or paying down debt from already marking those milestones – the resolution is just the first of many steps.
So, how do you move forward?
Like any resolution, financial goals require commitment and work, but the results are worth it!
- Assess your current position: Setting achievable goals begins with knowing where you are right now, including your current income, expenses, debts and anything that could influence them. Take a look at all those statements and get a clear picture of your financial landscape.
- Set achievable goals: What’s on your financial wishlist? Do you want to improve your credit score? Save for a rainy day? Pay down debt before a bigger purchase down the road? Be specific – and realistic – in your goal-setting so you can determine the best way to get there. And because we all work better with a deadline, set a date for completion.
- What’s your score? A key part of your overall financial health, your credit score plays a central role in your financial goals, and a strong score will set you up for longterm success. You’re legally entitled to one free copy of your current credit report each year from the major credit reporting bureaus, but you can also track your progress in real time through services like Credit Karma.
- Be accountable: When temptation strikes, sticking to those resolutions can be tough, so what will keep you honest? For some it’s writing down their goals and posting it in a prominent spot; for others, sharing goals with others means they’ll have to answer some tough questions if they veer off-track.
- Stick to your goals: Just like everyone’s goals are different, so are their financial realities. Your longterm financial health is important, so don’t get caught up in pressure from friends or family (or yourself!) to spend more than you’re comfortable with, even if that means skipping a few nights out or family vacations.
When the unexpected happens
Despite our best intentions and careful planning, sometimes life simply happens. It might be a change in employment, an injury or an unplanned-for expense, but stay the course: don’t get discouraged.
Resources such as a short-term, online loan can help get you quickly and easily back on track.
How does it work? Forget lining up for an appointment with your lender. Through MyCanadaPayday.com, safe, state-of-the-art technology and encryption allows individuals to borrow what they need in as quick as five minutes, confident that their personal details are secure, explains Sundeep Thind, manager of MyCanadaPayday’s Surrey office.
Simply complete the online payday loan application and the MyCanadaPayday team does the rest!
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My Canada Payday is a Canadian-owned and operated direct lender. To learn more, call 604-630-4783 or email getpaid@mycanadapayday.com.