3 Ways You Can Financially Prepare Yourself for 2021
For 2021, we are manifesting nothing but ✨Financial Abundance✨
If 2020 taught us anything, it’s that anything can happen and we must be prepared for just that—anything and absolutely everything! Being prepared will not only give you peace of mind and confidence to move forward but it can also save you a lot of money.
With that said, before we say good riddance to 2020, here are 3 ways you can financially prepare yourself for 2021.
1. Audit Your Financial Life
Conducting an annual audit for your personal finances is key to your personal finance journey. A personal financial audit will not only give you an idea of where you stand financially but it can help you make informed decisions on your next money moves in the year to come. So, before the ball drops, take time to figure out your net worth and your cash flow. Determining your net worth and cash flow should give you a good idea of your monthly budget and your financial goals for 2021.
2. Pay Yourself First
Usually, people only save what’s left of their income--that’s a BIG no-no. It’s high time we say adiós to that habit! Pay. Yourself. First. We will never get tired of saying this! When you get your salary this December (and yes, if it applies to you, that includes your 13th month) make sure to set aside a portion of your income for your savings. The rule of thumb is you should save or invest at least 20% of your income but don’t let that limit you--the more you save the merrier!
3. Solidify Your Foundation
Examine the foundations you have in place! What are you missing? For your reference, here’s a checklist of the essentials to a solid foundation.
Checked all the boxes? Fantastic! You’re all set for 2021. Enjoy stepping into the new year with hope and confidence.
Have some boxes unchecked? Don’t fret. We’ve got a bonus step for you! 😉
Bonus Step: Book A Discovery Call w/ Simply Finance
So … you’ve got some boxes unchecked, looks like you need a financial planner in your life! Lucky for you, we’re in the business to empower your financial success. Book a free discovery call with us and let’s talk about solidifying your foundations so that you can celebrate financial abundance in 2021.
