Whatever your income, it is likely you have financial targets, whether that is saving enough money to put down a deposit on your dream home, paying off a loan or bettering your credit rating to buy a new vehicle.

If you want to know how to reach your goals, look no further than these top five tips.

5 Ways How to Set Financial Goals:

1. Make a Budget and Stick to It.

Making time to take a long hard look at your incomings and outgoings is the only way you are going to understand your finances.

Firstly, list your monthly incomings, salary, benefits, and any other regular income.

Next, record all your fixed payments. These cost the same each month such as rent, phone contracts and direct debits for insurances.

Thirdly, list what you usually spend on any variable regular expenses: fuel, food, debts. When you’ve listed all your expenses, the amount left is your disposable income.

This can then be divided up to pay for anything else you need until the next pay day or to top up the amount in your variable expenses. Stick to a budget and you are one step closer to reaching your financial goal!

2. Top Up Your Income with a Side Hustle.

If there’s nothing you want to cut out of your expenditure, why not look for a side hustle to bring in some extra money?

It needn’t be anything as tiring as getting an evening job (although it could be, we’ve all heard the stories of actors and actresses working as waiters to top up their income).

Dog walking and cat sitting are popular sidelines for animal lovers and taking surveys on dedicated sites can be a good way to quickly make extra money, the amount offered for each survey is small but soon adds up and the beauty of surveys is they can be done anywhere, on a bus ride, while sunning yourself in the park, even in bed!

Car washing, gardening, and doing handywork for friends and neighbors can also bring in extra money. Think outside the box, everyone has skills they can utilize to make some additional money.

3. Use Cash Instead of Card.

When you can visually see the money leaving your wallet you think twice about what you are spending.

Instead of tapping your bank card or using Apple Pay, why not go back to using good old fashioned cash? You may find it saves you spending unnecessarily.

4. The 48 Hour Wait Period.

This one is a simple rule, but it can take a bit of adjusting to if you are a signed up member of the ‘one click’ society.

When shopping online, take time to browse.

You can add items to your favorites tab or place them in your basket but DON’T check out immediately.

Instead, give yourself 48 hours before going back to the site.

You may decide you don’t really need that third pair of Dr. Marten’s or yet another pair of black leggings after all.

5. Savings Pots.

Whether you go old school with a piggy bank or make use of a bank facility to save money in different subcategories of your account, savings pots are a great way to put money aside for a specific purpose.

What you should remember?

Facing your finances head on is the only way to reach your goals but you don’t need to do it alone.

There are masses of support on the internet with people Youtubing and Instragramming their own budgeting journeys.

Some, like Kumiko Love (also known as The Budget Mom), have free resources such as expenditure sheets and savings challenges to inspire you as you save.

You got this, all it takes it’s a little planning, not a big deal.