Whether you\u2019re the type that jumps on filing your taxes the first day you\u2019re able to or someone who\u2019s scrambling to crunch numbers at 11:30 the night before the filing deadline, tax season is that pesky predictability none of us can avoid. While all the question marks that come with filing taxes can be intimidating\u2014Will I owe? Did I file right? Did I get all the deductions I could?\u2014this is also an opportunity to ask yourself some important questions about your financial health.<\/p>\n
As you sort through receipts, W2s or 1099s in the coming weeks, take the time to look at the bigger picture they\u2019re painting. Are you spending more than you\u2019re bringing in? Are you making enough to sock away for those big life goals? What more could you be doing to improve your financial health? These are all important questions but ones we rarely think about during the hustle and bustle of the year\u2014but now, with your financial wellbeing right on display in front of you, you can take advantage of that knowledge to make some changes.<\/p>\n
Here are a few ideas to take that inspiration and make it a reality in 2023:<\/p>\n
Even if you try to keep your spending limited, if you don\u2019t have a good idea of exactly where your money is going, it can be hard to make sure you\u2019re not shelling out more cash than you\u2019re bringing in. Take some time to track all the money you\u2019re bringing in and all of your expenses\u2014everything from rent and utilities to groceries and spending on entertainment\u2014so you have a clear picture of any areas where you could trim a bit. Just like with your physical or mental health, you can\u2019t improve your financial health until you know what the problem (or even just the area for opportunity) is!<\/p>\n
The idea of checking an Excel spreadsheet before you head out for a night on the town may not sound too appetizing\u2014but bear with us! Once you have an understanding of your finances, it\u2019s time to make some decisions about spending more wisely\u2014and that\u2019s where a budget comes in. Take what you\u2019re currently spending on things that you don\u2019t absolutely need<\/em>\u2014dinners out, pricey coffees, even gas (opt for biking or walking when you can!)\u2014and shoot for lowering them by a certain percentage or dollar amount each month. You can certainly go old school with an actual budget sheet or just keep track of your spending on your phone (and there\u2019s certainly an app for that!).<\/p>\n Becoming a better saver and attaining all of your financial goes don\u2019t happen overnight. It\u2019s a long-term process that is going to have progress and pitfalls. Like any major change you\u2019re trying to make, it\u2019s important to know what you\u2019re striving for: saving a certain amount of money in six months or one year, buying a new car, having enough for a down payment on your first house, or even just being able to splurge every now and then, confident that you won\u2019t break the bank. So, keep yourself motivated with small rewards: If you successfully spend a full week making coffee at home, treat yourself to your favorite coffeehouse on the last day. Like any health journey, it\u2019s important to stay connected to what you\u2019re reaching for and pay yourself on the back along the way for making progress!<\/p>\n","protected":false},"excerpt":{"rendered":" Now that we\u2019re settled into 2023, there\u2019s one inevitability coming all of our ways: tax time. Whether you\u2019re the type that jumps on filing your taxes the first day you\u2019re able to or someone who\u2019s scrambling to crunch numbers at 11:30 the night before the filing deadline, tax season is that pesky predictability none of…<\/p>\n","protected":false},"author":3,"featured_media":15900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[6,19],"tags":[],"class_list":["post-11493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-work-life"],"yoast_head":"\nSet goals\u2014and rewards\u2014for yourself<\/h2>\n