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The financial resolutions you need to be making for 2018

  • Sydney financial advisor, Canna Campbell, shared her financial resolutions
  • Lots of people will be setting money goals for the coming new year
  • According to Canna, you need to set intentions and get specific with your goals
  • She also recommends writing them down - sometimes twice a day
  • She's a fan of thinking outside the box when it comes to ways you can make cash 

By Sophie Haslett For Daily Mail Australia

Published: 20:37 EST, 6 December 2017 | Updated: 20:37 EST, 6 December 2017

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With a shiny new year just a few weeks around the corner, the keen among us will already be turning their attentions to 2018 and their goals.

Which is why it can help to have a plan in place before the champagne pops at midnight on December 31.

Speaking to FEMAIL, leading Australian financial advisor, Canna Campbell, shared the major financial resolutions you need to be making for 2018.

Here, we've rounded up what you need to think about.

Speaking to FEMAIL, leading Australian financial advisor, Canna Campbell (pictured), shared the major financial resolutions you need to be making for 2018
Speaking to FEMAIL, leading Australian financial advisor, Canna Campbell (pictured), shared the major financial resolutions you need to be making for 2018

Speaking to FEMAIL, leading Australian financial advisor, Canna Campbell (pictured), shared the major financial resolutions you need to be making for 2018

First up is the idea you need to set your intention, and think about what characteristics you'll need to achieve it - whether that's self-discipline or confidence (pictured: Canna Campbell)
First up is the idea you need to set your intention, and think about what characteristics you'll need to achieve it - whether that's self-discipline or confidence (pictured: Canna Campbell)

First up is the idea you need to set your intention, and think about what characteristics you'll need to achieve it - whether that's self-discipline or confidence (pictured: Canna Campbell)

1. Set your intention:

The financial resolutions you need to make for 2018 

* Set an intention before the start of the year, whether it's a holiday, to get rid of your student debt or a deposit.

* Identify why your goal resonates.

* Get specific on your intention. Have an amount, a deadline and make sure the goal leads back to the intention.

* Don't bombard yourself with too many goals - one or two is ideal.

* Think outside the box as to the means by which you can save money.

* Read or rewrite your goals down once a day, if not twice.

* Try and make a small contribution to your goal every single day, even if it's just transferring $1 - it's progress.

* Check in with your goal periodically to figure out what's working and what's not. Feel free to adjust if needed. 

Whether you dream about a holiday to the Caribbean, no student debt or a first house deposit, first up it's time to think about your intention.

'This insight will help you to understand more as to what you stand for and yearn for,' Canna told FEMAIL.

While she explained it doesn't matter what the goal is, she also said it 'simply needs to spark something within you to make you feel energised, alive and inspired':

'Identify what it is about that goal that resonates with you so much,' Canna added. 'Knowing that feeling that comes from achieving this goal will help to keep you focused and minimise distraction.' 

Next, focus on the characteristics that will help you to achieve this intention - whether it's self-discipline, organisation or confidence.

'Work on bringing forward these characteristics from within yourself, strengthening them so you can go forward in your goal progress and accomplishment,' she said.  

For the financial advisor, a goal should have 'an amount, a deadline and lead back to the intention' (stock image)
For the financial advisor, a goal should have 'an amount, a deadline and lead back to the intention' (stock image)

For the financial advisor, a goal should have 'an amount, a deadline and lead back to the intention' (stock image)

Canna (pictured) recommends not bombarding yourself with too many goals, as she says this will make you spread yourself too thinly - instead, start with one or two
Canna (pictured) recommends not bombarding yourself with too many goals, as she says this will make you spread yourself too thinly - instead, start with one or two

Canna (pictured) recommends not bombarding yourself with too many goals, as she says this will make you spread yourself too thinly - instead, start with one or two

2. Set your intentional goals (and get specific): 

So, it's January 1. You're bubbling with energy and excitement around what you can accomplish this year.

What should you do next? For Canna, it's all about 'getting specific on your intentions'.

For the financial advisor, a goal should have 'an amount, a deadline and lead back to the intention':

'For example, it might be to "save $30,000 by 1 December 2018 for the deposit on my first property",' Canna explained.

She said it should be 'simple and straight to the point', so there is no danger of it either overwhelming you or being forgotten.

'Try not to bombard yourself with goals, otherwise you run the risk of spreading yourself too thinly,' Canna added. 

She recommends one or two - before upping the ante when and if you realise how capable you are.

While your goal may be to 'save a certain amount of money', you don't just have to focus on squirreling away cash from your 9-5 in order to save (stock image)
While your goal may be to 'save a certain amount of money', you don't just have to focus on squirreling away cash from your 9-5 in order to save (stock image)

While your goal may be to 'save a certain amount of money', you don't just have to focus on squirreling away cash from your 9-5 in order to save (stock image)

Famously,' Canna (pictured) saved $36,000 in 13 months by thinking outside of the financial box when saving
Famously,' Canna (pictured) saved $36,000 in 13 months by thinking outside of the financial box when saving

Famously,' Canna (pictured) saved $36,000 in 13 months by thinking outside of the financial box when saving

3. Think outside the box:

While your goal may be to 'save a certain amount of money', you don't just have to focus on squirreling away cash from your 9-5 in order to save:

'Look at other things you can do to save and earn money that you can put towards your financial goal,' Canna said. 

The Sydney-based guru is famous for her $1,000 Project, which allowed her to save $36,000 over 13 months and saw her 'do all sorts of weird and wonderful things to make money which were out of the restrictions of my salary'.

From selling clothes and furniture to renting out your property on AirBnB, Canna cited many things you can do to pocket a small amount of surplus cash.

From selling clothes and furniture to renting out your property on AirBnB, Canna cited many things you can do to pocket a small amount of surplus cash (pictured)
From selling clothes and furniture to renting out your property on AirBnB, Canna cited many things you can do to pocket a small amount of surplus cash (pictured)

From selling clothes and furniture to renting out your property on AirBnB, Canna cited many things you can do to pocket a small amount of surplus cash (pictured)

4. Take intentional action:

Okay, it's game time - and time to action all of your thoughts and feelings into something tangible.

For Canna, the key at this stage is to ensure you're 'positively aligned':

'Having an intention to get out of credit card debt, but then feeling sorry for yourself when wandering around shopping centres is not positively aligned,' Canna said.

You need to accept that big goals need big commitment.

In order to maintain the excitement, Canna said you should 'read or rewrite your goals down every day (if not twice a day).

'Spend time studying your goal, researching it, reminding yourself why it's so important and how good it feels every time you take a tiny step closer and closer.'

The financial advisor finally said you should try and take a small step every day to reaching it, whether that's transferring $1 a day to another account or foregoing a cafe-bought coffee.

'It doesn't matter that $1 represents small progress,' she said. 'Action helps manifestation.' 

In order to maintain the excitement, Canna (pictured) said you should 'read or rewrite your goals down every day (if not twice a day)
In order to maintain the excitement, Canna (pictured) said you should 'read or rewrite your goals down every day (if not twice a day)

In order to maintain the excitement, Canna (pictured) said you should 'read or rewrite your goals down every day (if not twice a day)

5. Check in intentionally:

Last but not least, once you've set your goal and a few months of the new year have passed, it's important to 'check in with yourself and your intentions regularly':

'What is working? What progress can you see? How are you feeling?,' Canna highlighted as key questions.

She mentioned that you shouldn't be afraid to adjust your goal or action plan if you need to, as long as it still represents progress:

'We all come across obstacles, challenges and even brick walls,' she said. 

'The trick is to rise above challenges and keep trying, moving and progressing - even if it's only small.'

Canna Campbell blogs at Sugar Mamma. For more information, please click here  

How did Canna save the money for her $1,000 Project?  

* Rented my house out on Airbnb over the weekend (I did this with a friend and we took it in turns to stay at each others places )

* I did market research

* I sold furniture and clothes online

* I took my lunch to work

* I implemented more minimalism

* I wrote a book (The $1,000 Project)

* I worked on weekends to earn extra money  

* I built an app (coming out soon) 

* I have quiet weekends at home 

* I entertained in my home instead of bars and restaurants 

* I did frugal February 

* I purchased clothes second hand to save money

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