Make Money Moves #Where to start:

Do you say to yourself every month this is when I am going to start managing my money, get on top of my personal finances and stop dipping into my savings.


What a year it has been so far, we are near the end of June and half way through 2020 you may feel like you are not on track to achieving your goals this year, that's ok and completely understandable! I think a lot of people have re evaluated their lifestyle during this time that's why it might be a good time to do a mid-year review on your financial goals & personal finances!


A lot can change as we now know too well, and seen as a lot of of us have just got paid this week too now is really a great time to grab yourself a coffee or pour a glass of wine (it's officially the weekend!) and take some time to get organised & make some plans. (Since we can now start booking hair appointment's & our favourite restaurants again from Monday 29th June so there really is no better time).


01

Money goals - Take out your vision board or your notepad or wherever you like to keep all your goals! See if you are still on track with your goals for this year. Once you know what you truly want, and are saving towards - the lifestyle, the house, travelling, or to start a business then break it down to timelines of short, medium, and long term goals and then take small actionable steps daily.



02



Audit Yourself - analyse your cash flow write down all the money coming in and going out of your bank account and reduce costs where possible if you feel you need to save more or look at ways you can increase your income. Always adjust to suit your lifestyle as it changes. Try to avoid lifestyle creep.



03

Stick to a budget - that suits your lifestyle. Try to live within or below your means and not take on too much debt. If you want to save more or get out of debt then reduce spending where possible. Try to think of your budget as taking control of your money and telling it where you want it to go instead of looking back at the end of the month wondering where it all went.




04

Build your Emergency Fund & pay off debts -

There is so much security in having an emergency fund for yourself and your family. Start with small amounts where you can and try to build this up as soon as you can. If you have expensive debts try and put some money towards paying off this where you can depending on what suits your personal situation.



05

Invest early - for future you!


The sooner you start investing the better, you can benefit from compound growth over the long term and the more time you have to mitigate risks as the stock market can be extremely volatile. You may want to invest in property and receive another source of income through rental income. Of course don't forget the importance of investing in your pension fund maybe you may want to review what type of fund your pension is invested in and if it suits your risk profile and investing goals.



If you are feeling motivated & inspired you can also check out the Personal finance 101 - The Money makeover edition available now to help you to achieve all your financial goals and ensure you are on track.

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