Getting rich is a relative term because my definition of getting rich by the end of the year may not be the same as yours. We can’t help you make millions by Dec 31st, but we can help you change your habits and achieve your personal goals.
It’s already September and that means there are only four months left in 2015. Can you believe it? My, my this year went by very fast. So let me ask you a question, how are you doing on your goals?
If one of your personal goals was to improve your money habits this year it’s time to check in and see how it’s going. Is your debt getting paid off? Are your savings growing? Did you buy that special something that you were saving up for?
If the answer is no then maybe you need to make some serious changes. Here are four ways you can get rich by the end of the year (your own version of get rich):
Sometimes it’s as easy as that. If you don’t want to run out of money in between paychecks then you need to stop spending money, or at least start spending a little less. I used to use my debit card to pay for everything. I used to tell myself that I would only spend $50 every week, but without tracking and unlimited access to my bank account I very rarely stayed within my spending limits.
Now I take out $40 at the beginning of the week and make it last until Friday. I stopped using my debit card and started spending less by paying for everything in cash. This way when the money runs out I stop spending.
Set up pre authorized payments
This is absolutely the best way to save because if you set up pre authorized transfers the money is taken out over night. By the time you wake up in the morning it’s already gone and you can’t miss something you never had, right?
Set a goal in November
Sometimes goals are good intentions, but they don’t get achieved because we need a little bit more time. That’s normal because sometimes life just throws us a curve ball. I like setting deadlines before I actually need to achieve it, just in case.
If you set a goal deadline for yourself in November you can buy yourself some time in case there’s a setback. If November comes around and you’re still on track then you’ll save a little bit extra money or pay off a little more debt. Don’t forget to check in on your goals regularly to make sure you’re on track and on time.
Focus on one goal at a time
When it comes down to crunch time it’s a good idea to focus your efforts on one goal at a time. It may be hard to achieve one goal in only four months, let alone multiple goals. Set a plan and a target for your first priority then you can work on your secondary goals in 2016.
What goal do you want to achieve by the end of this year?