Money Questions That You Should Be Asking Yourself Right Now

1. Yearly Question - What Is The Budget I Want To Focus On This Year?

Every year, you should pick a day to sit down and ask yourself a few financial questions that will help you set clear goals for the year. January is usually the best month to accomplish this because it is usually when the IRS tax year starts. Get a notebook and write down the answer to the question: What sort of budget will I use this year? To make a budget, think about how much you need for each expense that year and try to be as exact as possible.

2. Yearly Question - What Long-Term Financial Goals Do I Have This Year?

Setting a long-term financial goal for the year is really important, even though it sounds intimidating. But be careful: this aim should be reasonable and take into account how much you spend and how much you intend to make. Make a list of your biggest yearly costs. If that seems like too much, start with your quarterly costs. These are payments for taxes, insurance, retirement, and/or college funds. You need to make sure you have enough money to pay for these things.

3. Yearly Question - How Can I Save This Year, What Is My Target, And What Might Stop Me From Achieving It?

Don't be scared to make lists; they will help you stay on track all year and keep you motivated to reach your goal. Write down how you can save money and how much you wish to save. Then, think about some of the money mistakes you've made in the past and how you can prevent making them again. Find some of the things that make you spend the most money, and strive to make better spending habits throughout the year.

4. Monthly Question - Did I Put Money Aside For My Expenses And For My Savings?

It's very important to look back over the month before at the start of each month. Look at how much you've spent and how much you might have spent too much. For example, do you still have any money from last month? Put this money in your savings account straight away if the answer is yes. Set a goal for how much money you want to put into your savings account each month and stick to it.

5. Monthly Question - Am I Still Keeping My Yearly Goals In Mind?

A lot of us can convince ourselves into buying things we don't actually need these days by telling ourselves that "we deserve it." We do deserve it, but can we pay for it? It can be better for your finances to skip that weekend getaway or new expensive clothing in return for some piece of mind at the end of the year. Once a month, ask yourself if the decisions you're making are still in line with your long-term goals.

6. Weekly Question - How Much Did I Spend This Week? Have I Accounted For Everything I Need?

Finally, make sure to check on yourself every week. In fact, the easiest approach to remain on track is to establish a date each week to get down and look at your spending. It's hard to keep track of every dollar you spend and keep all of your receipts for a long time, but it's worth doing for a few weeks so you can see how you spend your money. Make sure you have enough money in your budget to cover all of your weekly costs and yet have some left over for the monthly transfer to your savings account. This may all seem like a lot at first, but once you get the hang of it, you'll never want to go back to being financially ignorant and unstable!