Olemera provides quality financial planning in Johannesburg. We understand that managing one’s finances can be challenging. Therefore, we have made it our mission to develop success driven methods to help you achieve financial success in 2019.
With the start of a new year, we are given the opportunity to make changes, determine resolutions and set new goals for ourselves to achieve.
As many successful people will tell you, setting goals is the number one method in achieving your dreams and aspirations, whatever they may be.
More specifically, setting financial goals may very well be the most important thing you can do for yourself this year and in fact, every year.
Financial success is something that everyone wants to achieve and with South Africa’s economy being where it currently is, some may think that financial success is nothing more than fantasy.
However, setting financial goals and reviewing them on a regular basis will ensure that you stay on track no matter what.
Annual, monthly and even weekly goals make it easier for you to measure and attain them. This allows you to identify where exactly you are and what you can do to improve your approach.
Paying off your bad debts is easily more important than investing or saving. Bad debts such as personal loans and credit cards are the kinds of debt that will ultimately decrease your worth rather than growing it. This is thanks to the high interest rates that come with the repayment plan.
Your first priority should be to pay off these debts once and for all and as quickly as possible. Being debt free is the single best thing you can do for yourself if you wish to achieve financial success.
Setting a budget is absolutely crucial as it allows you to be disciplined when it comes to spending. It helps you see how much you are spending on recreational activities, necessities or investments and savings.
Everyone should set a budget, whether you are living from month to month or have money in excess after covering your expenses. A budget is a great way to monitor and control your spending.
After setting a budget, you will easily determine how much money each month you are able to save. It’s obvious that you would want to save as much as possible, however your savings goal should be attainable.
Saving diligently is the best way to grow your money as quick as possible. Furthermore, once you know how much of your pay check you are able to save each month, it’s important that you put that amount away first and foremost.
As you set your budget, take note of how much you spend on things like entertainment and eating out. More likely than not, you will find that you can easily cut down on these expenses while still allowing yourself to have fun.
With entertainment expenses, before you know it you have spent an unreasonable amount of money as every little thing adds up. Allow yourself one dinner out per month for example. You will be surprised at how much more you will be able to save by cutting out unnecessary expenses.
Also referred to as a financial planner, a financial advisor can help you make the right decisions with regards to how you should spend your money, thereby helping you achieve your financial goals.
Using your personal information or data, financial planners are able to create projections based on realistic assumptions about how much you earn, how much you save, investments and inflation. These projections can help you determine how and when you will achieve your goals.
We are here to help you set and achieve your financial goals for 2019. Contact us for professional and effective financial planning in Johannesburg
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