A year for YOU!

As we scroll through our news feeds and see the memes and videos of people ready to put 2019 behind them, we at KLS are going to take a look back before we move forward. We set a goal in 2019 to post consistently, not only to build the Planting Seeds brand (#noshame), but to genuinely help consumers. We work for a collection agency, so we write knowing that our readers are most likely already stressed or even pissed off when they get to us. We wanted to make sure we offered an informative, yet fun, place to learn tips for building a better financial future.

Now that the year is almost over, we are coming to the end of our ABC’s of Financial Freedom series. We started the year by accepting our financial situation. Then by examining our current, perhaps even unhealthy, habits we learned how to make some spending changes. We had informative lessons about insurance, credit repair, apartment hunting, budgeting, and so many others. We also touched on self-care and learning how to be happy with yourself and find your Ikigai, or inner peace.

As you follow along in 2020 we hope to expand upon all these topics and reintroduce so many more. We at the Planting Seeds blog are discussing our 2020 topics and setting goals. While we work on ourselves, so should you. To help you get started, I’ve pulled together three recommendations for your 2020 financial goals.

Start an Emergency Fund. Going beyond just budgeting and saving, setting some money aside in the event of an emergency will get you to that next financial level. We were broad in our goals last year, to get our feet wet. This year, we recommend setting SMART goals. Something specific and achievable. An emergency fund is viewed differently from savings and everyone’s emergency “number” is slightly different. For me, I started off slow, so my goal was $1000. It seemed like an even and attainable number for me to realistically hit (on top of my normal savings goals) in a year. Others choose to save 2-3 month’s living expenses as their emergency fund. Whatever number you decide is good for you, set that goal and commit to hitting it.

Live below your means. I once read an article about a man who saved $10,000 in one year. It was a long time ago so I can’t find the specific one to share; but in searching for it, I see that this is no longer some phenomena we only read about. The biggest secret to the success of this high savings goal is to simply live below your means. We will touch on this more in an upcoming blog, but in the meantime, I encourage you to do your own research and read the success stories of people who made this one-year lifestyle change.

Improve your Credit Score. I know, I know. This recommendation is so overstated here at KLS, but it is so important. If you are starting with no credit score or a lower number than you hoped, the improvement process is just that, a process. Every year, this should be one of your goals. The new year gives you new opportunities to pull free reports and make a plan to improve it even more.
I hope these goals help jumpstart your year. We will do our part in supporting your short and long term financial goals, by continuing to provide you advice, in our quirky and hopefully relatable way. Here’s to our financial futures and cheers to 2020!

2020-01-10T02:03:12+00:00December 26th, 2019|ABC's of Financial Freedom, Monthly Challenges|