Making Financial Freedom an Attainable Resolution for 2019

Start The Year Out With Some
Financial Goals You Can Attain

Making Financial Freedom an Attainable Resolution for 2019
2018 is wrapping up to a close. As the holidays come and go and the new year hits,
you’ll be looking back as well as looking forward to what 2019 brings.

Looking back now, how do you feel you did financially? If your answer is anything but positive, it’s time to make some changes. Not only can you make a new year’s resolution to start being more financially responsible in 2019, but you can even start formulating a plan on how to do it.

Start Learning a Budgeting Method

One of the most fundamental aspects of getting personal finances under control is budgeting. There are many tools to learn how to do it as well as different ways to budget, though most financial experts like Dave Ramsey recommend using zero-based budgeting which is where you start by seeing how you can cut your expenses to where the total income and expenses are matching zero. It can be a little tricky to learn this if you’re not a math whiz or have never been good with numbers, but you might look around and seek help from people who have done budgeting before. The bottom line is knowing where all your money is currently going and knowing what you need to do so that you’ll be living above debt in the future. 

Eliminate Debt First

Once you’ve got the budget ready and the change is being set in motion, it’s time to pay off your debts first. First, you need to see what kind of debt you have, and then start making plans to devote payments to cutting it down and away. If it’s credit card debt or easy personal loans you’ve accumulated over time, start making plans to pay off more of your outstanding balance and figure out how to get it down to zero. If it’s another loan or bills that you’ve fallen behind on and need to catch up with, work out a plan with your creditors if you need to so that you can pay in smaller installments but still get it paid quickly. In the meantime, you just might need to cut your cable television off, eat out less, buy cheaper food, and sell off other assets until you can get your debt paid off. You don’t have to live like that forever, but temporarily taking measures like that can get you back to living more frugally and having more income to pay off debt with.

Make a Savings and Investment Plan

Once you get your debt under control and have more money to spend, a portion of that money should go into savings or investments. What you can do as part of your budgeting plan is to start saving more money by dedicating a portion of each paycheck to go into a savings account, where it can be held either for emergency needs or for something you want to buy for your family down the road. If you not only want to save but have money that generates more money over time, you should open an investment account. Usually, people open these accounts to have money ready for retirement, but you could also have money ready for goals you’re setting in the next few years by doing this. It’s perfectly fine to manage your investment accounts, but you may want to solicit advice from a former professional who has done it if you’re new to it.

With a new year on the way, it’s time to have a new approach to your personal finances. There’s no reason why you can’t make 2019 the year you finally attain a greater level of financial freedom.

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Related:
How to Become Debt-Free
How To Manage And Regain Control Of Your Family Finances
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Are You Failing Your Company?

This is a pretty serious and intimidating question to be asking yourself. But if you think long and hard about it, are you failing your company? A lot of business owners actually are, and that’s the main reason why we’ve seen so many big companies fall as of late. There’s so many balls being dropped by company executives that it begs the question of why nothing is being noticed before it all goes horribly wrong. So, to make sure you’re not failing your company, or to put yourself back on the right track if you are, here’s how you might be failing your company.

Are You Failing Your CompanyImage Credit

Lack Of Marketing

Marketing is one of the biggest things a company should be doing. Without marketing a company may as well not exist outside of their local area. Word of mouth alone is not enough to gain the exposure needed to rise to success. One company you should check out if you know you need to improve your marketing efforts is Ignite Digital. They know some great techniques such as SEO, one that pretty much every company should be trying. You should always make sure you’re varying what techniques you use to make sure you’re getting the most exposure possible. Big companies like to use things such as TV advertising, which is fine for you to also try. But you have to make sure it’s professional and whatever you do don’t create a jingle that’ll put people off your company rather than making them want to spend money. The British banking company Nationwide have learnt the hard way with that.

Lack Of Team Spirit

A lack of team spirit is powerful enough to bring any company down. Well, sort of, it definitely does have the power to slow any company down. The last thing you want is a reputation for a high turnover of staff. You want to make sure you’re keeping your employees happy and well gelled as much as you can. One of the best ways of doing so is through team building events that you’re involved with. If they see the company owner giving it a go, they’re much more likely to be engaged themselves. Always make sure you’re staying on top of any issues, and include things like monthly bonuses to perk people up. If you don’t have a HR department to deal with employee issues, make sure you or the managers you’ve employed are always approachable and staying on the ball with issues.

Lack Of Financial Management

The main reason why so many companies fail is because their management isn’t handling the finances properly. It’s common for big businesses to have big debts, and for small businesses to have their own to deal with. But letting these mount up is the last thing you want to be doing. Make sure you have a solid financial team on your side to manage everything, from your loses to your profits. You might also benefit from a business advisor coming in from the outside to oversee everything you’re doing for a while. They’ll then be able to make many recommendations to help further improve your business, which should in turn boost finances.

Related:
Business Problems: How to Solve Your Company’s Issues Before They Begin