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Making 2021 your best financial year

2020, well that was a crappy year, to say the least. But hey it’s over now. It’s time to start anew!!

So, the following is a plan to get you going for 2021. There are 5 things that will help keep you on your financial path in 2021. (If you don’t have a path then join our waitlist and once you get into WFC, we will help you along the way.)

  1. Set your financial goals for the next year. They should of course be compatible with what you want to accomplish. And they should be meaningful to you. Say you want to buy a house in 2 years, then you need to start putting more money away. If you have student loans and credit card debt, and you want to buy a house, then you have to prioritize saving and decide which debts you are reducing first. Make sure that your goals are concrete (look up SMART goals to help.)

  2. Do a review of the past year. Be gentle (but honest) with yourself. And remember you would never berate a friend, constantly telling them they are were terrible at this or that, can’t manage and always seem to f** -up. Yet, this is the self talk that we tolerate from ourselves, so, if you can hold that back, at least regarding your finances, you will be making progress. (Hey may be that is another goal for the year.) In any case, take your gentle assessment of last year and see if you can a) do better b) learn from it. c) celebrate your biggest plus for the year.

  3. Make a budget and a personal statement of the financial assets you own and what you owe. (you can see our personal financial statement once you join WFC.)

  4. Set your aspirational goals, if you have not already. Where do you want to be financially in 10 years? For some people buying a house is an aspirational goal in say 8 years, for others, this may be a short term goal, and the long term goal is to retire in 10 years, even though they are in their mid twenties.

  5. Automate as much as you can, so set up your automatic deductions for your 401k. And automatically payoff of your student loans, etc.

Now celebrate yourself. You go!

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