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December 23, 2019 Personal Banking Joshua Williams

Monthly Mini Goals For 2020

Starting a budget can be overwhelming making it hard to make the first move. In 2020 we are going to give you the tools to achieve financial wellness by taking it one step at a time.

Do you ever feel like your financial goals are out of reach? That you just don’t know where to start? We have broken down the year into 12 small and attainable mini goals to help you start a budget, stay on track, and pay down some debt. By slowing things down you are able to take each step and focus on one thing at a time resulting in a more enriching journey to financial success. Here’s a look at what we will encourage you to do throughout the year:

  1. January: Write down all of your monthly expenses.
  2. February: Write down all of your monthly income.
  3. March: Create a budget by entering your expenses and income into a spreadsheet.
  4. April: Calculate how much money you can put into a savings account each month with a goal in mind for the end of the year.
  5. May: Review your debt by writing down all balances owed and interest rates.
  6. June: Take inventory of all your credit cards and determine which ones you need and don’t need.
  7. July: Create a plan for paying down your debt.
  8. August: Plan an emergency fund account separate from your savings that could sustain you for 3-6 moths of minimum living expenses.
  9. September: Plan for retirement.
  10. October: Review education expenses; past, present, and future.
  11. November: Are you paying too much for insurance?
  12. December: Know your mortgage.

Every month we will dive deeper into each mini goal to help you plan your way to financial wellness. Remember, each step is intentionally slowed down to help keep you motivated and focused. And if you fall off track, you can always come back and visit these posts to get you started again. You’ve got this!