What are your financial goals for the new year?
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 8 January 2021. This week’s topic: Setting your new year resolutions – including financial goals.
Luke takes a look at setting financial goals for 2021. Many of us are glad to see the start of a new year and hopefully better days ahead. All Australians were impacted by Covid in 2020. We’re delighted that the trend of low case numbers continues across the country, given the outbreak on Sydney’s northern beaches late last year. Setting resolutions though can be hard, and keeping them throughout the year is perhaps even harder. In this episode, Luke talks about how to set achievable financial goals for the year ahead.
Key highlights include:
- Farewell to 2020. We’re glad to see that year in the rear view mirror.
- Think about your goals across different time frames. Not everything needs to happen today.
- Goals can be set as either short term, medium term or long-term goals, and they can dovetail into each other.
- If you don’t achieve a goal, that’s ok. Hit re-set and try again. Also, don’t forget about reviewing your goals.
- Now’s a great time to check your spending – especially on things like super, insurance, loans (interest rates) and other spending that you might not have thought about. Work out your living costs and get rid of the things you don’t need.
- Comparing your goals with someone else’s goals can be dangerous. Everyone’s situation is different.
- Don’t be unrealistic with your goal setting. Being unrealistic often leads to disappointment.
- Reward yourself for achieving your goals! Remember to celebrate your success.
- Be consistent with good behaviour. Good behaviour is likely to have the biggest impact on your success in the long-term.
- Luke shares his top 3 tips for 2021 to help you get started, and
- A free appointment offer to talk about your own financial planning goals. Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need advice to help you achieve your financial goals?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. So where are you heading in 2021? Is this the year you’re going to save and invest or perhaps a retirement plan is on your mind?
Envision 2CC offer: Your first appointment is at our cost. Make an appointment to confidentially discuss your own investment, super or retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.