Steps to help you achieve your new year goals

The start of a new year is a great time to review your finances and create a realistic plan to meet your goals.

Even in uncertain times, achieving your goals can be easier if you follow a few simple steps.

Here are some tips to help you get started.

Set SMART goals

It’s hard to set good habits when you don’t have something to work towards. Setting goals isn’t just about the result – they also need to be SMART: Specific, Measurable, Achievable, Relevant and Time-Bound (SMART).

Use this lens to make your goals more realistic, easier to track, relevant to what you ultimately want, and fit a manageable timeline.

Create a sustainable budget

A budget can give you greater visibility over your spending to help make smarter choices. First, check your statements to work out where your money needs to go or try a budget planner.

From here, you can identify any non-essentials to cut back on and set savings targets you can stick to. It’s important to continue tracking this throughout the year, so make sure you don’t just ‘set and forget’.

Reduce or consolidate debt

Whether its credit cards, buy now pay later, car loans, or a mortgage, review how you’re managing your repayments and plan to pay down your debts.

If you’re juggling multiple debts, consider rolling them into a debt consolidation solution or personal loan. It could help simplify your budget and bring cash flow relief.

Seek expert advice

Regardless of your situation, getting professional advice can help put your new year plans into action.

Liberty Advisers are more than just mortgage brokers, providing personalised support, whether you’re looking at homeownership, buying a new car, consolidating debt, or exploring other lending options.

For help to achieve your lending goals, speak with your Liberty Adviser today.