Every year we set the goals we hope to attain in the new year. These goals often include being healthier, becoming more successful, finding love, finding our direction, committing to gym or a new sport. And, amidst these noble ideas is always the goal of becoming financially sound or more financially stable. Financial goals are really important. Don’t let anyone tell you otherwise. They indicate you are willing to acknowledge what is wrong with your finances and where your weaknesses lie when handling your money.


There is something to be said about making a pledge that, going into the new year, you will do better and make better decisions. And, there is nothing more rewarding than to finally have control over than your money. Once your money is sorted you have more options, more flexibility to make decisions about your life and that gives you greater control. When your finances aren’t under wraps, your whole world seems out of control.


And having control is often as simple as having savings and an emergency fund. When life happens and your car needs new tyres and a full service, and you need to go to the optometrist because your eyes are sore and you stare at the computer all day, you will want an emergency fund to dip into. But there are financial goals to consider other than just putting some money into an emergency fund.

piggy-bank-1056615_960_720Deciding on your personal financial goals is easy but implementing is less so

Personal financial goals are quite easy to map out. If you have debt you need to squash it. Look into your high interest accruing debt. So consider your retail accounts and uncover how much interest they are actually charging you. Many of the retail account stores charge enormous interest rates because this is how they make their money. The rates are even higher than those of the banks and of credit cards. This type of debt must be eradicated and you should actively pursue clearing these accounts and closing them down. Clearing your debt is really only your first step. If you are really smart you will be saving even while you are clearing your debt.


What do you want your financial future to look like?

You should seriously begin considering investment in your future too. That’s if you haven’t yet set yourself up. It’s scary to think about when age catches up with you and you’re no longer able to work. That’s why a retirement annuity plan is important.A retirement annuity is always a good idea and offers a tax rebate which is a beneficial annual saving. Saving for your future can be done in many different ways but the overriding goal is really that you unpack, investigate and educate yourself on exactly what the options are for you to optimise your savings. Most financial institutions offer a comprehensive range of personal finance solutions that will outline the best ways for you to manage your personal finance and save money simultaneously. A financial advisor from any one of the reputable financial institutions will happily advise you on the different levels of risk and the expected returns.


Now that your debt is being cleared and your savings are growing, have you considered the investment game?

Another goal that is worthwhile considering is entering the investment game. This sounds a lot scarier and difficult than it really is. But spend some time figuring out what your end goal is before you begin. Are you happy to invest a large amount of money into an investment portfolio which remains untouchable for years or do you want the option of accessing your money if necessary? What are the tax benefits you can derive from the various investment options? Are you happy to play the online investment game or do you want to speak with a financial advisor who will handle a portfolio for you? You must know the answer to these questions before you decide what to do with your money. For instance, many people have had success with investing online with Satrix. Here,you are solely responsible for your investment. Others are happy to put their money away for ages and reap the rewards decades later.

No matter how you go about it, securing your financial future is paramount to having a happy and fulfilled life. If you haven’t started yet then start immediately.

About The Author

I was born in the Eastern Cape, close to the waves. After getting my degree in Media, Communication and Culture, I knew it was time to make my way to a big city. Not wanting to leave the ocean, Cape Town was the natural choice for me. At first I thought the fast paced world of marketing. But I never forgot that what I'd always wanted to do was write. Now I'm a freelance writer, where my office is my bedroom and my platform is the World Wide Web. I live with my partner and our two beloved Great Danes. When not reading or writing you can probably find me on the beach or exploring nature trails.

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