Setting Financial Goals for 2018 Read more at: https://www.vanguardngr.com/2018/01/setting-financial-goals-2018/

It is a new year and another great opportunity to get your financial situation in order and a key factor in doing that is to set financial goals. While setting these goals, here are some essential factors that should be considered: Naira Do a Financial Assessment Evaluate your assets and liabilities; take a critical look at your savings, debts, and investments as they stand now then determine where you want them to be. Assessing your financial status may feel stressful, but gaining this knowledge will allow you to set realistic goals for the year. Prepare a Budget It is important for you to set up a monthly budget and stick to it, this will help you maintain focus, manage your income stream and also curb impulsive buying. Get out of Debt Being debt-free is an incredible feeling and taking action to get there is another key step to taking control of your finances. By really focusing on getting out of debt you can reduce the amount you pay in interest and this will in turn give you more freedom. You can stop paying interest and start earning instead. Save…Save…Save I know this might sound a bit cliché, but it is very important. What is the first thing that comes to your mind when you have some spare money on you? Buy a new wrist watch, phone or shoes maybe? Sacrificing some of these pleasures would pay off in the long run. This year, cultivate the habit of saving. If you are struggling to find ways to save, you can start by cutting back on some of your expenses; curb some excesses. Saving can be more effective if you set a savings target as well. Knowing how far off you are will motivate you a lot more and help you reach your goals faster. Invest How you keep your savings is equally if not more important than the actual act of saving itself. Investing allows you to grow your money at a much quicker rate. Some people have actually accumulated a lot of savings over the years but have no idea of what to do with it! Determine your objectives, risk appetite and put your money to work; after all you worked for it! Whatever your financial goals for 2018 may be, reach out to a credible investment management company to ensure that you are on track and to provide all the necessary support you need. – Renah Osiemi Relationship Management Head, AXA Mansard Investments Limited  

Read more at: https://www.vanguardngr.com/2018/01/setting-financial-goals-2018/