Build your financial health in 2020
Practical steps to build your financial health and wealth in 2020 and the decade ahead.
A new year, a clean slate. For many of us, this is a time to reflect and set goals for what we’d like to change and accomplish during the year. In this 6-week series, we’ll cover the practical steps you can take to make 2020 your year for financial success.
If you're following "The Money Guide" series, you can find the digital versions here:
- What is financial health?
- Creating your money plan
- Managing credit and debt
- Saving and building wealth
spend less on bank fees
It’s worth taking the time to understand exactly how much you spend on banking every month. It’s easy to forget this cost, but it should be included in your budget like everything else, and may be an area you can save on.
SMART financial goals for 2020
Life is busy and it’s expensive. Much of the time, you’re likely thinking about the many immediate demands on your income. But to build your financial health, it’s essential to think about what you want your money to do for you in the future.
Make a roadmap for your money
A money plan, also known as a budget, is the roadmap that directs your financial decisions each month. Our daily spending habits don’t always reflect our big goals and dreams. But, if we don’t plan our spending and our saving, we simply won’t get where we want to be.
How to take charge of your expenses
It doesn’t matter where you are on your financial journey, if you can consistently keep some of the money you earn each month instead of spending it, you can change your financial future.
How to stick to your budget
A budget won’t do you much good if you set and then forget it. Once you’ve created a plan for your monthly spending and saving , how do you stick to it?
get rid of debt
Take immediate action if you're struggling to repay your debt, and keep your credit profile safe.