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The Axiom Bank Blog

 Learn about best practices, tips and advice for your financial life from bank staff. 

Best Ways to Create a Money Goal for 2020

Best Ways to Create a Money Goal for 2020

Posted On: November 4, 2019 by Axiom Bank in: Budgeting, Financial Planning, Personal Finance, Save money, Savings, Seasonal

With just a little work, you can map out your financial goals for the upcoming year. When it comes to money, it can seem overwhelming or tricky to know where to begin. Luckily, Axiom Bank is here to help! We’ve come up with some of our favorite ways you can create your money goal for 2020. Figure Out Your Finances The first step you should take is to calculate how much income you bring in each month after expenses. You may feel that you have a good estimate, but once you start racking up all the costs, you’ll be surprised how much you are left with. Once you’ve subtracted all expenses (gas, groceries, eating out, rent, utilities, mortgage, etc.) from your income, decide where you can drop off some of those expenses. Track Your Expenses Keep track of your spending to be sure you account for all expenses. If you want to reduce your spending in order to put even more money toward savings, identify your needs and wants and try to indulge in the wants less. This

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