Implementing your 2025 financial goals
In 2025 it is unordinary to not have over 5 forms of credit, are you part of the new ordinary? In December we talked about making new financial goals and bringing them into the new year, instead of just making the same old resolutions. Some of you may be having trouble bringing them over or fully implementing them. Today, lets talk about a few ways that you may be holding yourself back, and what may be the solution.
Many things can contribute as to why you may not be having the strong start to 2025 that you may have planned for, financially. Notably, did you know that the average car payment in Canada is $1000+ a month, while the average salary is about $5000.00 a month. Being part of this statistic may be a major contributing factor as to why you may be struggling to make headway, as before the month even begins your going to be allocating on average, a 5th of your income to a single car! Not to mention that most households, have 2 vehicles as well, so meaning you could have 2 car payments, no wonder you may be struggling on starting your new goal. If your serious about starting to make headway, my proposition is to sell the fancy car that society tells you that you need. Instead, get a used car for cash, that does not have a payment. It would be a investment to start, but think of how much extra cash you could be stacking away, if your not allocating $12,000.00+ a year, to car payments!
With Canada being at the forefront of the consumerism lifestyle, the word “NO” often does not get said enough. “NO, my son does not need the new baseball bat”, “NO, my daughter does not need the new shoes”, “NO, I do not need the new iPhone”. More than half of these purchases where you think you “need” it, you do not. In fact, buying the new phone every year it comes out with a new model, is pointless. The average lifespan of a phone in 2025 is well over 4 years, so why do you need a new one every year? Instead of buying the new one because your battery is crap, why not get it fixed for $150.00 at your local repair shop? Making the word NO your new word for 2025, will save you SO much more money than you think.
Along with having the power to say no to anything and having the smart to reallocate you’re spending elsewhere, to save more money annually, these tips should help you be more well on your way. Sometimes though, the issue may be budgeting. If your needing help getting out of debt, and are not wanting to hurt your credit, make sure to check out Blueprint2Black, as they are the #1 tool that CCDR recommends when you are looking to get out of debt, on your own merits and with your own money.
Still needing help? Make sure to reach out to CCDR to explore your debt help options and begin your debt free journey, today.
