{"id":234860,"date":"2019-12-29T05:17:07","date_gmt":"2019-12-29T13:17:07","guid":{"rendered":"https:\/\/www.lulus.com\/blog\/?p=234860"},"modified":"2021-10-06T21:24:36","modified_gmt":"2021-10-07T04:24:36","slug":"money-goals-financial-resolutions","status":"publish","type":"post","link":"https:\/\/www.lulus.com\/blog\/lifestyle\/money-goals-financial-resolutions\/","title":{"rendered":"Money Moves: 4 Key Steps to Planning Your Finances and Meeting Your Goals in 2020, According to an Expert"},"content":{"rendered":"
\"money
Image via @kiara.joseph<\/figcaption><\/figure>\n

2020 promises to be big–new year, new decade, and new goals. If you\u2019re eager to step up your finances, now is the perfect time to get going on your money goals and financial resolutions. Here\u2019s how to make it happen.<\/p>\n

1. Get Clear on Your Goals<\/h2>\n

Before you even begin to strategize, you\u2019ll want to write down your goals–not just for 2020, but for the years to come. Are you planning to buy a home? Do you want to book international travel in the coming year? When setting your goals<\/a>, remember to make them S.M.A.R.T.–Specific. Measurable. Achievable. Relevant. Timebound.<\/p>\n

Instead of saying, \u201cI am going to save money for a trip to Europe,\u201d a better way to set up this goal is to say \u201cI am saving $75 each month starting in January 2020 so I can pay for my flight to Europe in the fall.\u201d See the difference?<\/p>\n

\"woman
Image via @josipellicano; Featured: Winnie Light Brown Faux Fur Oversized Coat<\/span><\/a><\/figcaption><\/figure>\n

2. Start Strong With a Budget<\/h2>\n

Budgeting can be intimidating, especially if you\u2019ve failed at it in the past. However, there is no tool more powerful than a budget<\/a> in helping you to know your true financial position. If you\u2019re a beginner, a simple pen and paper will do the trick.<\/p>\n

Sticking with a budget can be tough<\/a> and it does require some discipline. If you are struggling to stick to your financial resolutions, find an accountability partner and schedule a monthly meeting with that person to ensure that you\u2019re both tracking towards your financial goals.<\/p>\n

3. Make a Plan to Knock Out Debt<\/h2>\n

Don\u2019t let debt knock you out in 2020. Debt can serve a meaningful role in your financial strategy; however, much wisdom and careful planning is needed. If you\u2019re purchasing a home and need a home loan, you\u2019ll likely gain more traction towards your long-term goals from that type of debt than you would from say, consumer debt.<\/p>\n

Do everything you can to pay off credit card debt<\/a> including having a plan and a simple, written debt-paydown schedule to help you stick to it.<\/p>\n

\"woman
Image via @celesteangelicaa<\/figcaption><\/figure>\n

4. Be Prepared for Surprises<\/h2>\n

Life always presents unique twists and turns<\/a>, some of which can be thrilling, like a new baby<\/a>, and others, downright devastating. To really maintain a consistent flow to life, you can set up systems around you that will protect you in incidents such as a health or natural disaster<\/a> crisis. Ensure that you\u2019re signed up for adequate health insurance coverage, and if you have dependents, consider life insurance.<\/p>\n

An emergency fund<\/a> is an essential part of any financial strategy to weather unexpected life events. As you start the year, make it one of your financial resolutions to commit to putting aside a healthy amount towards your emergency fund which experts recommend should be anywhere from a month to six months\u2019 worth of your living expenses.<\/p>\n

As you go through 2020, be kind to yourself if you stumble along the way. The key is to remain persistent and you\u2019ll be well on your way to achieving your money goals–and life goals. You got this!<\/p>\n

Have a question about your financial resolutions? Ask in the comments–and shop budget-friendly buys here<\/a>!\u00a0<\/strong><\/p>\n

Bola Sokunbi, founder of\u00a0Clever Girl Finance<\/a>, is a Certified Financial Education Instructor, money expert, CEO, and best-selling author. Sokunbi aims to help women like you take charge of your finances, stop living paycheck to paycheck, build real wealth, and get you in control of the life you really want to live.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

2020 promises to be big–new year, new decade, and new goals. If you\u2019re eager to step up your finances, now is the perfect time to get going on your money goals and financial resolutions. Here\u2019s how to make it happen. 1. Get Clear on Your Goals Before you even begin to strategize, you\u2019ll want to… Read more »<\/a><\/p>\n","protected":false},"author":160,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42077],"tags":[],"class_list":["post-234860","post","type-post","status-publish","format-standard","hentry","category-lifestyle"],"acf":[],"yoast_head":"\nFinancial Resolutions: Expert Steps for Meeting Your Money Goals This Year - Lulus.com Blog<\/title>\n<meta name=\"description\" content=\"A new year--and a new decade--is the perfect time to get going on your money goals and financial resolutions. 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