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How to Create Financial Goals and Set Yourself Up for Success in 2022

How to Create Financial Goals and Set Yourself Up for Success in 2022: The new year is the perfect time to turn over a new leaf with your finances. No matter where you are in your financial journey, there are steps you can take to make 2022 your best year yet.
Financial success starts with a plan. Here are some tips to help you set realistic financial goals that improve your financial security and wellness in 2022 and beyond.

Make a plan for your 2022 holiday spending.

Seeking more financial success in 2022? It starts right now—starting with your holiday spending.  Excessive holiday spending can put you in a hole that you’ll spend the early part of 2022 digging yourself out of. If you haven’t already set up a holiday spending budget, do so now, and think about the entire spectrum of holiday costs, including travel expenses, decorations, and gifts. 
If your holiday spending tends to be high, establish a plan to save small amounts of money throughout the 2022 calendar year. By the time the next holiday season rolls around, you’ll be able to enjoy your holiday plans without a hitch.

Create a personal or family budget for 2022

If you’re looking to improve your budgeting and money management, consider reviewing your spending habits over the past year and identifying opportunities to scale back and improve your net savings.
You should also account for new expenses that might be coming your way in 2022. Are your living costs, such as utilities bills, rent, or property taxes, likely to increase? What about daycare costs, or college tuition? Factor these new costs into your budget to keep your budget in line with changing costs.
One way to structure your budget is to focus on achieving a particular goal, such as paying down debt, building up an emergency fund, or saving for a major purchase (e.g., a car). Review your projected expendable income, and determine how you can use this money to achieve certain goals.

Budget for monthly savings, and set up automatic savings contributions.

Automatic savings contributions offer instant accountability in sticking to your plan. You can also supplement this saving through programs such as Pocket Change, which round up purchases to an even dollar and deposit that extra amount into a savings account. 
If you’re expecting a pay raise or an annual bonus, you might also consider using this added income to boost your savings efforts, rather than increase your spending. This can provide an economic boost that improves your financial stability headed into 2022.
Combine a few different savings approaches to set stronger habits and get more value out of your budgeting and savings efforts.

Reach new financial heights in 2022

You don’t have to wait until January to set financial goals for 2022. Finish this year financially strong by planning your holiday spending and setting achievable goals for the new year.

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