For many different reasons, a lot of people struggle with financial fulfilment. For some, their unhappiness could be because they wish they could make a higher income. For others, it is their inability to plan their finances wisely that may be frustrating them. Whatever the reason may be, one thing is certain, no fulfilling financial life comes by chance, it takes planning and deliberate effort to build a life that you are proud of. This is why setting financial goals for yourself weekly, monthly or yearly will help you achieve much more with the money you earn. Here are five financial goals you should pursue.
1. Have Monthly Savings
Saving is the most basic financial goal every individual should have. It is the simplest way to empower yourself financially and to see personal goals come alive. To start saving, set out with a monthly target of a certain percentage of your income that will be kept aside in a savings account. You can make use of saving apps and automated deductions. Learn more about tools that can help you save better here
2. Have Stable Investments
Investing is the next important financial goal to consider after building your savings. Making good investments is a great way to give more value to your money. Over time, good investments can become lucrative enough to cover your monthly spending, allowing you to direct your monthly earnings to other projects. A few stable and promising investment options include real estate, company shares, and treasury bills.
3. Have Multiple Income Sources
Your needs will never be exhausted, so it can be quite liberating to have other sources of income. Aside from your primary means of livelihood, consider other things you can do to make extra cash. For example, you can open an online shop or learn a new skill that people would happily pay for, such as makeup, custom jewellery making or shoemaking.
4. Start a Business
If your dream is to be self-employed, so you can have more control over your life and live in financial freedom, then this goal is meant for you. Starting a business requires a decent period of time for planning and preparation. You can set monthly milestones for starting your business, including procuring all the necessary equipment or facilities, getting legal permission, advertising and finally opening for business.
5. Have a Financial Emergency Plan
One important financial goal for everyone is having a plan for the rainy days when unexpected and urgent bills come. That’s why FairMoney is of great advantage to you. With the FairMoney App, you can get quick and easy access to emergency funds of up to ₦150,000 in just 5 minutes after making a loan request. Getting a loan with FairMoney is stress-free and does not require any collateral or documentation.
Here’s how to apply for a loan with FairMoney:
Step 1: Visit the Google Play Store on your smartphone, search “FairMoney” and hit the “Install” button.
Step 2: Sign up with Facebook or your phone number, and then answer a few quick questions in 2 minutes.
Step 3: Receive a loan offer in only 5 minutes!