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PLAN WELL
Tips & Plans to Help Achieve Your Financial Goals
17 March 2023
2 mins read
2 mins read
FINANCIAL GOALS TO SET IN 2023
The New Year is a perfect time to set yourself up for success. So, why not get the ball rolling with solid financial goals?
It’s always nice to start the new year on a good note, and what better way to begin than by focusing on your finances? Get the ball rolling on your 2023 financial goals with these helpful tips:
Track Your Expenses
If you haven’t started already, keep track of where your money is going by noting down all your expenses.
This helps you get a better idea of how much you’re spending on a monthly basis and where you can cut out unnecessary expenses to save more.
Focus On Settling Your Debts
The first step to settling all your debts is to know which ones you should prioritise.
Try out the Debt Snowball Method, which involves paying off your smallest debts as quickly as you can. Here’s a quick breakdown of how this works:
List down all your debts from lowest to highest amount owed.
Pay off your smallest debts as much as possible.
Pay the minimum amount for all your other debts.
Once you’ve paid off your smallest debt, move up to the next one on your list.
Repeat until all your debts have been settled.
Get Smart
When it comes to planning your goals, make sure you set them the S.M.A.R.T. way by considering these criteria:
SPECIFIC
- Are your goals listed in detail?
MEASURABLE
- Can you track or measure your goals easily?
ACHIEVABLE
- Are your goals realistic?
RELEVANT
- Why are you setting these goals?
TIME-BOUND
- Do you have a set deadline for each goal?
The more concrete your goals, the better. So, set a specific target you want to meet by the end of the year and regularly check on your progress. We can also lend a helping hand by growing and protecting your wealth with AIA’s Total Wealth Solution.
Stay Well-Protected
Setting your goals is all about knowing where you stand financially. So, if you’re unsure where to start, you can get a report of your protection coverage with AIA’s free Financial Health Check.
Planning financial goals takes hard work and commitment, but it’s all worth it when you see the fruits of your labour after reaching your milestones!
References
https://www.wellsfargo.com/goals-credit/smarter-credit/manage-your-debt/snowball-vs-avalanche-paydown/
https://www.nerdwallet.com/article/finance/
https://www.atlassian.com/blog/productivity/how-to-write-smart-goals
FINANCIAL GOALS TO SET IN 2023
The New Year is a perfect time to set yourself up for success. So, why not get the ball rolling with solid financial goals?
It’s always nice to start the new year on a good note, and what better way to begin than by focusing on your finances? Get the ball rolling on your 2023 financial goals with these helpful tips:
Track Your Expenses
If you haven’t started already, keep track of where your money is going by noting down all your expenses.
This helps you get a better idea of how much you’re spending on a monthly basis and where you can cut out unnecessary expenses to save more.
Focus On Settling Your Debts
The first step to settling all your debts is to know which ones you should prioritise.
Try out the Debt Snowball Method, which involves paying off your smallest debts as quickly as you can. Here’s a quick breakdown of how this works:
List down all your debts from lowest to highest amount owed.
Pay off your smallest debts as much as possible.
Pay the minimum amount for all your other debts.
Once you’ve paid off your smallest debt, move up to the next one on your list.
Repeat until all your debts have been settled.
Get Smart
When it comes to planning your goals, make sure you set them the S.M.A.R.T. way by considering these criteria:
SPECIFIC
- Are your goals listed in detail?
MEASURABLE
- Can you track or measure your goals easily?
ACHIEVABLE
- Are your goals realistic?
RELEVANT
- Why are you setting these goals?
TIME-BOUND
- Do you have a set deadline for each goal?
The more concrete your goals, the better. So, set a specific target you want to meet by the end of the year and regularly check on your progress. We can also lend a helping hand by growing and protecting your wealth with AIA’s Total Wealth Solution.
Stay Well-Protected
Setting your goals is all about knowing where you stand financially. So, if you’re unsure where to start, you can get a report of your protection coverage with AIA’s free Financial Health Check.
Planning financial goals takes hard work and commitment, but it’s all worth it when you see the fruits of your labour after reaching your milestones!
References
https://www.wellsfargo.com/goals-credit/smarter-credit/manage-your-debt/snowball-vs-avalanche-paydown/
https://www.nerdwallet.com/article/finance/
https://www.atlassian.com/blog/productivity/how-to-write-smart-goals
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