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Your Goal is a Piece of Cake!

Reaching your personal finance goals is a lot easier when you have the right tools. Set yourself up for success with the right planning and technology to see the bigger picture in your finances.

The most important part of managing your finances is probably your mindset. Use our tips to achieve better financial performance by improving how you spend money, budgeting to save, and with smart investments.

Read on to discover tips for reaching your financial goals faster.

Start by reshaping your goals

Grab a notepad or note-taking app because we have three quick to-dos for you. 

  1. Choose your number one goal

Start by writing down the financial goal that is most important to you. Is it saving for retirement? Saving up for a down payment on a house or car? Building up an emergency fund? Investing 15% of your income? 

  1. Make your goal more specific

Have you ever heard of SMART goals?  It’s a way to make your goals more specific and achievable. 

For example, “Buy an apartment” sounds like a great goal, but it isn’t easy to measure. 

But “Save $25,000 for a down payment on an apartment by January 2035” is much easier to visualise and track. 

A SMART goal is Specific, Measurable, Attainable, Relevant and Time-bound. There are loads of articles online that can help you formulate a SMART goal. It’s worth the effort because the SMART method makes your goal feel more achievable and actionable.

  1. Now put your goal where you can see it

Now that your number one goal is SMARTer, write it down and put it in a place you can see every day. Whether it’s the background of your phone or a sticky note in your workspace, it will help you keep your goal in mind. This simple step can change your perspective. Then, when it’s time to make spending and saving decisions, you’ll see your goal and consider your next move carefully.

  1. Check on your finances regularly 

Schedule regular finance check-ups every month. Set up a spreadsheet and document the money you have in different accounts or lying around. We mean everything! That includes the cash hidden in your house!

Understanding precisely how much money you have from month to month allows you to get a broad view of how you are spending and saving without diving into the details. (That comes later, in budgeting). This practice also lets you see which accounts you are relying on most. 

In short, regular check-ups will help you make better decisions and motivate you to change your habits so you can reach that all-important goal of yours!

  1. Use apps that let you see your income and expenses more easily

Are investments a part of your strategy? Or are you receiving money and making payments in multiple currencies? If so, use an app that does it all. The more you can do in a single app, like Quppy, the less time it will take you to gather all of the information you need for your monthly check-ups.

Create better saving, spending and investment habits

Here are five easy ways to adjust your mindset around saving, spending, and investing your money. 

Investing to save money? 

  1. Diversify your cryptocurrency investments

Quppy lets you create and import multiple wallets, so you can keep your Ethereum, Bitcoin, Litecoin and other digital assets in one place. You probably already know that having five separate wallets is a pain!  Quppy makes it easier to monitor the health of your investments.

  1. Avoid rumours and hype

Investing, unfortunately, can be a very emotional thing. That’s why when markets go up, people buy, and when markets go down, people begin to panic and sell. Try to keep your emotions out of investing and put your money in stocks, cryptocurrencies, or other assets with a plan to invest for the long term.

Are you more focused on savings?

  1. Start thinking about saving money as a must, not a dream

You pay your rent and bills every month; why not pick an amount to “owe” your savings account? Work with a percentage of your salary, or a fixed amount if it’s easier. 

The act of making a monthly transfer will keep you connected with your goal. Or, if you’d rather set it and forget it, set up an automatic transfer to your savings account, so you don’t have to think about it. Then, in a few months, you’ll be pleasantly surprised to see your new account balance!

Reconsider your spending habits ?

  1. Track what comes in, and more importantly what goes ou

Money is digital now, and many people don’t even touch cash on a daily basis. So it can be difficult to really understand how much money we’re spending because we aren’t seeing and feeling physical bills or coins when we pay for things.

Just because digital transactions are more convenient doesn’t mean you should stop thinking about costs. In fact, if you’re working toward a financial goal, one of the single most important things you can do is start carefully tracking what you’re spending your money on, so you can reevaluate what is really important to you… the extra night out, or saving up for a vacation. And did you know that by using finance apps, you may actually spend less money over time? It pays to keep track of your money.

  1. Invest your time into your goals by budgeting

Set a strict budget once you’ve gotten the hang of tracking spend and have a better idea of what you’d like to cut back on to reach your goals. It may not sound like fun, but you can start a contract with yourself by setting an upper limit to expenses like clothing, sports, food, and social activities. The simple act of budgeting puts you in control of your spending habits.

Put technology on your side with Quppy

Quppy is an all-in-one decentralised payment solution. It’s an app that lets you open IBAN accounts in multiple currencies, including EUR, GBP, USD and cryptocurrencies. The Quppy app makes it easier for you to see your investments at a glance and manage payments from multiple accounts conveniently in one place.

When it comes to your goals, knowledge is power

It might sound cliche, but it’s true! The first thing you need to know is your goal. When you really understand where you need to go, then you can start working on a roadmap to get you there. Then you can use the tips and tools from this article to get you there through smarter spending, saving and investments. The right mindset and technology will help make your goals feel far more achievable. And once you better understand your own financial performance, you’ll fall in love with the process of setting financial goals… and reaching them, too!

Learn more about how Quppy can help you streamline payments and investments. Sign up for our newsletter to stay in the know and receive more personal finance tips from our team. Plus, we’ll let you know when our AI Mentors feature is released. AI mentors help give personalised recommendations based on your financial profile.