Make 2023 Your Best Financial Year Yet With This 3-Step Checklist

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Setting goals and planning are cornerstones of financial success.

Key points

  • The first step is to review your financial goals so you know what to focus on this year.
  • A great way to ensure you stay on track financially is by creating a budget and net worth statement.
  • A financial plan will help you meet your financial goals and track your progress.

The start of a new year is the perfect time to reset and take charge of your finances. Whether you’re just starting out in your career, or have been in the game for a while, everyone needs to ask themselves three important questions regarding their finances.

  1. Where do I want to go?
  2. Where am I now?
  3. How will I get there?

Following this checklist can help you answer these questions and make 2023 your best financial year yet.

1. Set your financial goals

Setting your financial goals answers the first question. Without first determining what your financial goals are, there will be nothing to work towards or focus on. Your financial goals help give you a sense of direction and motivation when things get tough. Take some time to write them down and post them somewhere within easy view.

You can even break them down by short term, mid term and long term. Long-term goals may be to retire at a certain age; a mid-term goal to save for a home; and a short-term goal can be to save enough for your emergency fund. Make your goals SMART (specific, measurable, achievable, relevant, time-based) and share your goals with…

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