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Short-Term Financial Goals You Should Be Making This Year

People want to live their best lives and avoid debt. However, it’s not always possible in today's world without setting up short-term financial goals. So, as the economy shifts and changes with every purchase on Wall Street, it's important to poise yourself for a major win. Here's how to get that done as quickly as possible (and without feeling overwhelmed).

Your 5 Best Short-Term Financial Goals for This Year

Long-term goals are harder to achieve because they can feel overwhelming. On the other hand, short-term financial goals are much easier to reach because they're broken down into digestible chunks. Plus, smart short-term moves help prevent long-term problems like expensive debt and loss of property.

However, like always, the year will be over before you know it and you'll be left trying to figure out where you went wrong. So, start making these 5 frugal moves today and enjoy more financial freedom tomorrow:

1. Start a Savings Account

It's important to put aside some cash for emergencies and unexpected incidentals. However, saving money isn't always easy. This year, open up a small savings account at your local bank or start putting tiny bits of cash into a jar. Even if you're only able to put a few pennies, those pennies will eventually add up.

2. Sell the Items You Don't Need

You don't have to keep looking at all that clutter. This year is the year for cleaning the house and making some money at it too. Did you know that nearly 90% of American households sell their unwanted items online or in a garage sale? So, hop on the bargainer's bandwagon and start earning some extra dough from the stuff you don't use.

3. Pay Off Some Debts

Most people can't achieve their short-term financial goals and rid themselves of all their debt overnight, but they can start paying some of it back in small increments. Before the end of the year, make a budget. In that budget, create space for gradual debt payoffs. Think about debt consolidation services or use some of your earnings from the garage sale to pay fees off in one lump sum.

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4. Cancel Unnecessary Memberships

The average person spends between $20 and $150 a month on various memberships. That money could certainly go toward better things, especially for someone struggling to make ends meet. Either way, unnecessary fees are detrimental to the bottom line. So, start canceling some of the services you don't really need and pocket the extra money. This is an important step in achieving your short-term financial goals.

5. Get a Payday Loan

Our Louisiana payday loans are simple to get. All you need is some basic documentation to get cash in hand the same day you apply. You can then take the money and do whatever you want to with it - like pay bills or manage unexpected expenses without putting more debt onto your credit card.

How to Use Short-Term Payday Loans Wisely

Selling your stuff and canceling memberships isn't always enough to reach your short-term financial goals. Sometimes, you've got to get a payday advance. And that's perfectly fine, as long as you know how to use the resource properly. As such, here are some tips from the financial pros:

  1. Bring all of your paperwork with you. This can help you save time while making the entire process less stressful.
  2. Review the terms of the loan carefully. Make sure the payment schedule is suitable for your unique lifestyle.
  3. Ask lots of questions before signing.That way, you can clear up any misunderstandings and clarify the terms.
  4. Use the money wisely. Otherwise, you could find yourself in a financial hurricane that's hard to escape.
  5. Play by the rules. Try not to break the loan terms for any reason and always communicate problems with the lender.

Short-term financial goals may require money advances, like payday loans, that are designed to help people get out of financial hardships without involving their credit portfolio. In turn, that convenience requires due diligence and fiscal responsibility. For more information on our Cash Cow of Louisiana payday loans or the structure thereof, consult our payday loan frequently asked questions.

The Grand Total

Life can be messy and expensive. Plus, it's mostly unpredictable and rather risky, to say the least. Therefore, protecting yourself against the inevitable is probably the best thing you can do. That's why it's important to take these short-term financial steps by the end of the year. Otherwise, you could start the next year in the same position you're in right now.

The most diligent approach to reaching your short-term financial goals involves being creative and disciplined. You might end up selling your unwanted items or opening a savings account online. And you could cancel every membership under the sun and still need an emergency payday loan online because of mounting debts. The point is to face this year's challenges with an open mind instead of an empty wallet.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.