The champagne bottles are empty, the confetti has been swept up, and our sequin dresses are back in our closets (until next New Year’s Eve).
Hopefully your wallet is still intact after the holiday season, too. If not, keep these tips handy for next year to help you gift without going broke!
A new decade is upon us, and I’m here to help you get this next chapter of human existence started on the right financial foot.
Here are 5 quick and easy money moves for a fiscally fabulous 2020. The best part? You can check these tasks off in less than 10 minutes and get right back to shopping the sale at Saks.
1. Identify and prioritize your money goals with this free blueprint
We all know the importance of our goals being SMART (Specific, Measurable, Attainable, Relevant, and Timely). Well, today I’m helping you take them a few fashion-forward steps further.
It’s easy to get anxious and overwhelmed when we catch a glance of the big, scary money goals we have for ourselves.
Style tip: If your goals don’t scare you a little bit, they aren’t big enough!
That’s why I’m sharing my simple, proven process. This questionnaire will help you reflect on your priorities, identify your goals, and go from visualizing your money dreams to making them a reality in 2020.
Click here to access your free copy of my Money Goal Blueprint to set your New Year up for success.
In case you missed it:
- Ditching Your Latte Won’t Make You Wealthy – Here’s Why
- 13 Quotes to Elevate Your Money Mindset
- Why Compound Interest is Better Than a Birkin Bag
2. Check your credit score
Whether we like it or not, this number matters when it comes to financial success and achieving our money goals.
Style tip: You should be as familiar with your credit score as you are with the balance on your Nordstrom card.
Your credit report can affect your rate on a mortgage, credit card approvals, housing requests, and even your job applications!
The good news? You’re entitled to a free credit report (as in it doesn’t affect your score to access) from each of the 3 major credit reporting agencies every year – TransUnion, Experian, and Equifax.
Why would you want 3 copies from 3 separate agencies? Well, your financial records at each may be slightly different.
You can quickly and easily request your free copies from the official government approved website here.
Most banks and credit card companies now give you the ability to access your credit score online at any time. It’s important to note, though, that they may use a different algorithm in calculating your score.
Knowing where your credit score stands will help you plan for big life money goals (buying a house, a car, business loans etc.). It will also help monitor your credit usage and detect any attempts to steal your identity or compromise your accounts.
3. Get your hands on a good read
One of the quickest and most powerful ways to change the trajectory of our thoughts (and, by default, our lives) is by picking up a book. In this day and age, no hard copies required. With eBooks, audiobooks, podcasts, and Amazon Prime, a wealth of knowledge on everything we can possibly imagine is at our fingertips 24/7.
No matter where you are on your journey with money, investments, and building wealth, I am confident there are resources available in your preferred medium.
I’ve made a list of my 10 favorite money, investing, and personal development books, with most available on Audible and Kindle, too! Access this list of great reads to start your New Year here.
4. Choose your money accountability partner
One thing I remind myself of often is that I’m not on this journey alone – and neither are you!
According to a 2014 study by Dr. Gail Matthews, those who wrote down their goals, shared them with a friend, and gave weekly updates on their progress were 77% more likely to achieve their goals than those who didn’t.
Time to put the odds in your favor and find an accountability partner!
Style tip: Choose someone who loves you, motivates you, and lifts you up. Most importantly, choose someone who will hold you accountable to the goals and dreams you have set out to achieve (no matter how difficult the accountability conversations may be).
For me, this accountability partner is my fiance. We help each other identify our weaknesses, honor our strengths, and improve our mindset and daily habits around money. If either of us doesn’t follow through with a financial commitment, or we stray from our discussed spending track, we determine what we need to change up to be more successful next time around.
I also have an amazing fellow money coach who encourages and inspires me. At the same time, she gives me the necessary “tough love” to stay on track towards success.
Can you think of someone in your life who would be a good money accountability partner? Reach out and watch the two of you grow, learn, and succeed alongside each other!
5. Don’t forget your dopamine
As I share in my Money Goal Blueprint, breaking up big goals into small, manageable steps is crucial to achieving success.
Did you know this principle is backed by science, too?
When we convert a long-term goal into a series of short-term goals, we can more easily and more frequently experience success. Our brain kicks into reward mode when we achieve these “small wins”. When this happens, we get a hit of dopamine – the “feel good” chemical in the brain.
And who doesn’t want more of that?
Style tip: Good things take time
While these 5 money moves can easily be made in 10 minutes or less, I want you to remember that good things take time. This is especially true when it comes to money.
These 5 money moves lay the groundwork for you to build healthy daily money habits and thought patterns in the New Year. Doing so will help you achieve long-term financial success.
Want my help taking your money mindset to the next level in 2020? Shoot me a message and let’s come up with your money game plan.
Xx, The Finance Fashionista
