Have you ever tried listing down all of your New Year’s Resolutions? After a few weeks or even days, all of a sudden they came to a halt? Many may get tired of this monotonous goal setting cycle every year, so we may not even try doing them at all. This is especially hurtful when it comes to dealing with money.

There are several reasons why we don’t push on with what we planned for. Examples are a lack of specific planning and objectives, no motivation or just being plain lazy. Good news though, it is never too late to start the year right. If you believe your financial decisions will greatly affect your future, then it’s time to put your plans into action. These are three basic steps that can help you reach your financial success:

Step 1. Start planning to increase your investments.

You need your money to work for you? Investing makes your hard earned money grow. Make it a priority to save a certain percentage of your income for your investments before you spend. It is also important to know your risk profile and the type of investment product that suits you. Talk to your financial partner to discuss your needs and develop a plan to take you forward.

Step 2. Prepare for your retirement

If you want to enjoy a comfortable life in the future, then take charge of what is present and make some extra contributions to your super.

Some may see it as a lesser priority with their finances and find it difficult because of the increase in the minimum contribution rates but It is definitely a good start whether young or old.

Step 3. Look to pay down personal debt

You may find it very hard to pay off your mortgages, credit cards and other bills, but face the reality, you have to work within your budget. Consider  what is a necessity and what might be a small luxury. Track your expenditures and your progress by listing them down or using a budget app. Talk to your lender if you have problems or delays, with the payments. Most importantly, always seek advice and develop a plan.

Ink Wealth can help you make a great head start this 2016 with the right strategies to manage and grow your wealth so you can reach your financial success.

Talk to us and we will be happy to assist you!