I set some post mid year resolutions because I wanted to get my self-improvement goals back on track after a slump. I detail how I will go about achieving my goal using SMART objectives, with a contingency plan for if I am not able to do this
Why have I set this?
I have more financial obligations – I am good with my money, but I need to organise my payments and savings better so that I do not turn into someone who lives from paycheck to paycheck.
- Keep record of all direct debits leaving the account to ensure that I am able to pay without going overdrawn.
- Put money aside as an emergency fund, which is money specially reserved to pay off any unexpected debt such as replacements, repairs or damage.
- Reassess spending habits to improve monthly saving.
- Record when direct debits leave account and how much money is needed to pay for this each month.
- Have a savings account that is reserved specifically for the emergency fund.
- Keep a record of spending habits.
- I have money to invest into this idea and have financial knowledge of savings accounts.
- I receive a regular stream of income to invest into this.
- To have a secure emergency fund by the end of November.
- Have record of my direct debits by 14th October 2014.
- A record of my spending habits to review and improve by the end of October.
- Using other savings money to help supply the emergency fund.
- Cut my social activities to make savings.