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Reach Your 2019 Financial Goals – Carthage Savings and Loan

Published: January 24, 2019

Ways to Set Smart Financial Goals in the New Year

The New Year is the perfect time to evaluate your finances and set new goals for yourself. Maybe you want to pay off your debts this year or save up to make a big purchase. No matter what you hope to accomplish, these tips from Carthage Savings and Loan can help you make your goals a reality, so you can make 2019 your most financially healthy year yet. 

  1. Follow the SMART goal format

You may have heard of SMART goals before. It’s a template to provide structure for your goals, giving you clear steps toward achieving them. A SMART goal should be: (Examples below)

  • Specific: I want to save $5,000 for a down payment on a home.
  • Measureable: I will put $200 into savings during each pay period during 2019.
  • Achievable: I will cut spending on eating out to support my plan.
  • Relevant: Doing so will save money overall on rent and build equity.
  • Timely: I'll achieve my goal in one year.

Breaking down a goal this way allows you to see the big picture and how you can achieve it. And with a clear roadmap to success, you're far more likely to accomplish your goal.

  1. Plan for the future

While it’s easier to plan financially for the here and now, it’s also important to start thinking about the future. In 2019, consider looking into 401(k) plans if you haven’t already. Additionally, look for other smart ways to invest your money, such as stocks, bonds or certificates of deposit (CD). While you may not see a return right away, your future self will thank you for the effort you put in today.

  1. Stay accountable

As you start working on your goals, find ways to hold yourself accountable to make sure you stay on track. Speak with a financial planner or other representatives from your local bank for help. You can also download financial planning apps, including the Carthage Savings mobile banking app, to help you track and manage funds. Even writing down your goals in a journal can help you visualize progress and keep you motivated.

Partner with Carthage Savings for the New Year

Whatever the New Year brings, your family at Carthage Savings & Loan in Carthage, Clayton and Watertown are here to help. If you need to open a new account, start a CD or take out a loan, for example, just by stop your local branch to get started.