New Year resolutions rarely work, but that does not mean you should not set goals for the new year. If you have not done so yet, it’s not too late. Among those goals you might want to set financial objectives. Consider how much income you want to make and whether your current employment will satisfy your desire. If not, have you considered a supplementary opportunity to increase what you want or need?
You might also want to create a personal savings goal. Whether you achieve that by withdrawals from your paycheck or put that money aside on your own or both, set a target and make an effort to hit it. You might be saving for a family vacation, for education for yourself and/or your children, for retirement or for an item you have been eying for some time. In any case, make a plan.
If you already set goals and have not been successful in achieving them to this point, don’t give up like many do with New Year resolutions. Get back on track and find or develop the resources you need to fulfill your economic dream. Abandoning your objectives is not the answer; you may need to re-evaluate what you need or how you can get what you desire.
Often having someone to work with you like a CPA can help you figure out how to meet your income and savings objectives. Your CPA may be able to help you see how to do what you aspire to do by viewing it from the outside. You might want to contact Les Merritt, CPA, at (919) 269-8553 and set an appointment. Les also offers additional financial services which might help you with your planning. Check with him to talk about how you meet your savings and earning aims.