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It’s a new financial year and a fresh start! That can mean a new start including your finances!

If your New Year’s resolution this year is to make better money management decisions or even give your finances a financial makeover, you’re in the right place!

I’m going to show you how to plan for your best financial year yet!

I’ll share with you my best financial planning for the new year tips to help you get on the right track. Why? Because getting to financial security is worth every minute of the work you put into it.

Plus, these financial planning tips for personal finance tips are a great idea to revisit every year to help you stay on your goal savings track.

And these family financial planning ideas will not only help keep your goal clear but help you to evaluate where you went wrong last year so you can fix those mistakes for this year.

We’ll talk about everything from building your game plan to learning from past mistakes!

So let’s get busy planning our best financial year yet!

financial year

Reflect On Last Year

When planning to have your best financial year, it’s important to look back on last year and <gulp> your past mistakes.

Compare last year’s goals to see if they were accomplished or identify places where you might have fallen short.

Your experience from last year’s goals can help you create better goals for this year and help you from making the same mistakes year after year (I’m so sick of doing that!).

Financial planning for the new year wouldn’t be complete if you don’t know what you did good or bad last year. You can’t move forward if you haven’t learned from your mistakes.

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Have More Money Tomorrow

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If you have a planner or calendar, look at your last financial year and how you were spending your time. That helps you identify that in the future, you will know how important things were to you and where you fell off track.

If they aren’t very detailed, leave a note to yourself to make your calendar and planner more detailed THIS year so you can keep track of your goals.

Find an app or ways to track your spending that will help you be more detailed oriented so that your plan is clear and concise. My financial planning tips for personal finance is to help you know where your dollars were spent and where they went.

As you reflect on last year, be sure to write down your reflections.

Keep these in a safe place and refer to them each year when you look back on your goals.

financial year

Make A Financial Plan

To have a great financial year, it all starts with a good plan. It doesn’t have to be anything intense, as long as it’s specific.

You can write it down on a notebook at your kitchen table or even on a napkin.

Start your financial planning for the new year with these three steps:

  1. Start by thinking about what your financial goals are. What is important to you? Once you’re able to answer this question, you can figure out how much money you will need to reach this goal.
  2. The next step is to evaluate your current situation. Start by determining your net worth. This will give you a clear picture of where you stand, and help you figure out where you want to be financial.
  3. Lastly, you should map out how you are going to reach your financial goal by writing out the exact steps it will take to get there. Once you have your map, then you can figure out exactly what adjustments might need to happen to your budget.

Here are even more tips for how to pay off your debt faster.

Learn more tips on making a better financial plan for you.

financial year

Think Of The Bigger Picture

When it comes to managing our finances, we tend to be focused on what’s in front of us instead of seeing the bigger picture especially our financial year.

This leads us to squash our own goals before we’ve even had a chance to get close to achieving them yet.

Instead of saving for a house, we might take that hard-earned $20,000 and buy a new car instead. We might order takeout too frequently instead of putting that money toward a significant savings goal.

As you begin to make your own spending decisions, you should weight the value of every dime, nickel, and even penny you’re about to spend against your financial goal.

And I know it’s hard to weigh those decisions with the long-term mindset; will this Starbucks coffee bring you more joy than retiring early? That sounds crazy, right?

But sometimes the truth hurts. My family financial planning ideas include keeping your goals in plain sight. Add your goal to your fridge, your debit card and maybe even plastered on your dashboard in your car. The more prevalent it is to see, the apter you are to remember and keep your goal a priority.

Keeping your financial plan and goal in mind, start to think of the bigger picture instead of your need for immediate gratification.

financial year

Surround Yourself With Positive Influences

If you are working toward financial independence or some other big financial goal for a better financial year, it can help you to surround yourself with people who are working toward those same goals.

If you spend your time with spenders, it will be hard to resist the urge to spend along with them.

BONUS FREE DOWNLOAD

Have More Money Tomorrow

Download this FREE Guide with 5 Solutions to show you how to have more money to make ends meet.

On the flip side, if you spend your time with people who strive to be frugal and pay off their debt, you will feel more motivated to stick with your goal. This will help you get to a better financial year.

In Proverbs 27, the Bible says, “As iron sharpens iron, so one person sharpens another.”

Also, it’s truly better to share the burden and encourage each other with day-to-day strategies to help each other work towards your goals (even if they are different).

Here are 12 Finacial Rules to help you stay on track!

financial year

Stick To It

Having a solid plan in place is how you will reach your big financial goals in life.

If you don’t let yourself get distracted and keep moving forward with your goal, you’ll find the light at the end of the tunnel eventually (I promise!!).

Keep your eyes on your prize, and you’ll see that you’ll reach your financial goals in no time at all, maybe even this financial year!

These tips financial planning for the new year will help you get on the right track. Because getting to financial security is worth every minute of the work you put into it.

Plus, these financial planning tips for personal finance tips are great to revisit every year to help you stay on your goal savings track.

And these family financial planning ideas will not only help keep your goal clear but help you to evaluate where you went wrong last year so you can fix those mistakes for this year.

Eight percent of people will fail at keeping their New Year’s resolutions every single year.

Commit to follow these steps and make this year your best financial year ever!

 

YOUR TURN: What financial or personal goals are you making this financial year? What plans have you started to keep yourself on track? Chime in and let me know!

financial year
Ready to start your financial planning for the new year? Start with these financial planning tips for personal finance to get you on the right track! Plus, these family financial planning ideas will help your goals for creating your best financial year yet! Get started here! 
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