In 3 months, we will be looking at 2024 in the rear view mirror and looking ahead towards 2025. If you didn’t hit those financial goals you set out to accomplish at the beginning of the year yet, don’t panic! Small adjustments can make a big impact, so here are 4 tips to end 2024 financially FIT.
Look at the financial goals that you wrote down at the beginning of 2024. If you're still on track to achieve your goals, keep going. If not, mark today as “DAY 1” and start working towards those goals.
Set SMART goals:
Specific - What am I trying to accomplish? What actions will I need to take to achieve my goal?
Measurable - How much will I save? How much debt will I repay before the end of 2024?
Achievable - Is this goal doable? What resources or skills do I need to achieve this financial goal?
Relevant - Why is achieving this financial goal important?
Time-Based - What's the time frame for achieving this goal? (In this case, it's December 31, 2024)
If you’ve crushed your goal already, set a new one and start working towards achieving it.
No more overspending or spending on non-essentials. Take a moment to look over your bank and credit card statements. Highlight the non-essentials or the areas where you’ve overspent and start adjusting now. Calculate the amount that you’ll be able to put towards your saving goals or paying towards your debt. Stop using your credit cards!
November and December are usually the months that bust budgets in the USA. Now's the time to check in with family & friends about holiday plans and Friendsgiving events, especially if you have a habit of making plans last minute. Decide ahead of time how much you are willing to spend on decorations, food, gifts, clothing, etc. Going forward, mark your calendar to start planning and budgeting earlier in the year, so that you won’t become overwhelmed or spend impulsively during the holidays. Financial stability during the last 2 months of the year requires discipline and consistent effort, so start exercising those muscles early.
Start considering your goals for growth, sustainability, stability and cash flow. Look at your 2024 budget/debt repayment plan to get an overview of how much extra income you need to achieve your long term financial goal. Don't put this off! Start making the necessary adjustments now.
Just like our faith in Jesus Christ requires discipline (i.e. regularly meditating on the word of God, fasting, praying; etc), financial fitness also requires us to be disciplined in saving money, making wise spending decisions, and staying abreast of changes in the economy. Our heavenly Father wants you to prosper in every area of your life but you have to be willing to do something different to get better results. When you truly understand what it means to trust the LORD's ways and not your own, a lot can happen in three months.
Want to hear Sherica teach live? Save the date for our Strategic Partnerships: End 2024 Financially Fit session on Wednesday, October 2nd at 7:00pm EDT. Text PRAY to 203-693-4596 to receive the link.
SD Financial Coaching Services provides confidential support, resources, and accountability to help our clients achieve their financial goals. We serve individual, couples, non-profit organizations and congregations who are interested in financial stewardship that is rooted in Biblical principles. We offer debt coaching, budgeting coaching, savings plans, financial education, personalized advice, continuous support, and accountability. Whether facing challenges with car loans, credit cards, student loans, medical bills, or seeking clarity and organization managing your finances, we will tailor a plan to meet your needs and walk alongside you to achieve your goals. To schedule a FREE Discovery Call with Sherica, visit sdcoachingservices.com.
