5 Tips to Set Yourself Up For A Fantastic 2023
It’s the new year, you are re-charged, and it’s now time to let go of the handbrake and get going!
We are back with another episode of Financial Autonomy, in which we aim to give you more choices. Maybe it’s the option to work three days a week; perhaps it’s a career switch or the ability to retire and travel Australia at 60. This week’s podcast should help you make the best decisions for 2023.
1. Establish goals (and milestones)
What are your goals for this year? You may want to master vegetarian cooking, get your offset account up to a certain amount, run 10km, build a share portfolio, or pay off the mortgage. It is best to set goals and break them into smaller milestones. Then, hold yourself accountable.
Setting goals is the best way to achieve your goal. There’s no way that an Olympic gold medalist just happened to walk past the tryouts during a day of rest, gave it a go, and ended up with a medal.
To achieve success in any endeavor, you must first be clear about what it is you are trying to accomplish. Then, break down your goals into small milestones and determine the actions needed to reach each one.
Setting goals and milestones, even if you do nothing else, will have a major impact on the way your 2023 unfolds.
2. You can find a cash flow strategy that is right for you
If you have read my book, you know that I strongly believe that there is not one right way to budget your money. Many people are obsessed with spreadsheets and track every dollar spent, but they’re as rare as Emu wandering the suburbs of Melbourne.
There are other ways to do this. In my book, I list five of them. I’m certain there are many more. Find the best solution for you by trying a few approaches. You may find that the best solution is to combine several different methods. No matter what approach you choose, you must find a solution to make sure your expenses are lower than your income and then save and invest the difference.
3. Book your holiday
It might seem strange to mention this after talking about saving. The anticipation of an event can bring more joy than the actual event. You will feel happy for several months if you add a holiday to your calendar. Book something for the second half, and you will get the most enjoyment from it. You can also stay on track to achieve your goals. One of these would be to have some money set aside for your holiday.
Book your holiday now and enjoy the anticipation.
4. What are the best ways to develop your career?
Your ability to earn a living is probably your most valuable financial asset. What could you do to develop your career in 2023?
If you earn an additional $30,000 per year throughout your career, it could mean the difference between retiring in your 60s and not 65s or paying off your mortgage before your 50s.
Do you have a clear path for your career? The job market is very strong at the moment. You need to expand your experience. Do you need to study more?
Investing in your future could be one of the best investments you can make. Think about how you could develop your career by 2023, and include these ideas in your goals.
5. You are lucky.
Take a minute to appreciate how lucky you are. This is my 5th and last tip for setting yourself up for an amazing 2023. It’s important to take a moment and appreciate how lucky you are.
We can sometimes berate ourselves, feeling like we are not doing enough or keeping up with others. Reflecting on how fortunate we are can help us reset these negative thoughts. This positive outlook will make it much easier to achieve success in 2023. Optimism spreads. Positivity is a valuable asset. Positivity is the fuel you need to achieve your goals. Use positivity to your advantage whenever possible.
