5 Financial Goals to Set in 2021
2020 already passed and it's time to set your 2021 financial goals. Whether you want to save for your future flat, increase your retirement savings, or pay off debt, there's no better time to set some financial goals than at the start of a new year.1.Set a budgetNo matter what your income is, setting a budget is still essential. Setting a budget allows you to exercise discipline regarding how much of your money goes to necessities, how much goes to recreational expenses, and how much goes to savings and investments. By setting a budget plan and sticking to it, you’ll be in better control on how you can reach your financial goals.2.Learn about financial literacyLearning about money and finance may help you to manage your money in the right way. You can do this by researching online, reading financial books, or talking with trusted family members. Set a learning goal; whether it is a book or magazine, will give much you greater insight into a specific financial area.3.Advance your careerIt’s the new year – you may want to think about your career path. Maybe you love your job and you plan on staying here for the next ten years. In this case, find something to help advance your career, maybe through taking some relevant online courses. If you are not happy in your current job, perhaps it's time to look around for a more fulfilling or hopefully, a better-paying job!4. Generate different sources of incomeLife is uncertain – hence you need to save enough money for emergency use. Apart from cutting expenses, you can try to generate additional sources of income.There are a variety of ways you can increase your revenue streams. Freelance work, for example, is great for those who have some specific skills such as photography, Photoshop and programming to offer others. But there are also less technical options to consider, such as providing delivery services and being a blogger. Additionally, if you have savings, you can consider investing or using the snowball method for saving to increase your passive income.By finding different ways to diversify your revenue streams, you won’t be entirely dependent on single income source. Not only can this strategy help you make more money and increase your savings, but it can also provide some protection if you lose your primary job.Tips: Open a WeLab Bank account, join the GoSave time deposit to earn high interest!How to open your WeLab Bank account 👉 https://www.youtube.com/watch?v=fvKxPt0Fz8g5.Get Out of DebtGetting out of debt is another key step to take control of your finance. Getting out of debt can reduce the potential amount you pay in interest, therefore allowing you to do the things you want. Set up a plan and stick to it. While sticking to the plan may be painful, it is worth it!You can also use WeLab Debit Card to reduce your debt. By using the debit card, all transactions will be directly deducted from your core account balance, so you can only use as much as you have. Say goodbye to overspending and credit card bills!