Financial Goal Setting
Taking little measures towards bigger gains
Taking little measures towards bigger gains
Financial Goal Setting is about focus.
Look at the state of the economy and the continuing large number of individuals that are still out of work and it is hard to speak about the subject of financial goal setting.
It is however; in these hardest of times that triumph over insurmountable odds can be seen in so many people based on taking some simple yet affective steps towards stabilization.
These 5 key words will be our topic focus for the following plan of action:
1. The Destination
The start of your journey concerning financial goal setting must begin with a destination or end goal in mind.
You need to have the finish line established before you can begin to run the race.
You must have a realistic picture in your mind of what you desire to have happen before you start creating the necessary plan of action.
Financial Goal Setting is about patience’s.
Depending on the size of your goal you may need to create small interval success data points to keep you motivated and fast on the course.
Large goals can frustrate your ability to stay dedicated and focused.
These points will be small victories that act as confirmation guides that you are indeed heading on the right track for your goal.
You have to chart your direction through proper mapping to insure the safest route to accomplish your financial goal instead of the overall quickest route.
Choosing safety over speed will ensure that you do not look into risky ventures that might leave you in a situation that is contrary to the goals that you have set.
Your motivation quote for this task is “slow and steady wins the race”.
A goal that comes with time and patience will be a goal worth cherishing and honoring in the long haul.
Financial Goal Setting is about specifics.
We live in an information super highway age and you just need to spend the necessary time researching others who have successfully navigated the course that you desire for your own financial goal and follow it to the letter.
Do not be afraid to have more than one map towards your financial destination.
Some maps might be more prescriptive than others and the overall picture may vary depending on your sources.
Paths are the specific details found on the overall map. Just like anything else in life there are normally several ways to go about just about anything you can think of in this world we live in.
Based on your specific circumstances, restrictions, and time table, combined with all your hard and fast research; you will in turn reveal the correct paths to take in order to accomplish your goals.
It is always nice to have a secondary route or contingency plan in case the road ahead presents an unplanned detour of any kind.
The benefit of several paths also gives you hope and motivation to know that you are going to reach your goal because all roads lead in the correct direction if you just keep moving forward.
Financial Goal Setting is about purposing.
Ask anyone who has taken a whirlwind 5 different destination trip in 5 days and they will tell you that a few pauses here and there to allow them to fully enjoy the different places would have been nice.
I like to simplify it this way as a friend told me years ago when my travels were all about the E.T.A. “estimated time of arrival”.
He said that “if I continued to travel in this manner that
I would miss all the little nuances, along with the smelling of the flowers along the way”.
I told him that was not important, and then I had children and out the window went E.T.A. and everything else for that matter…I really know what is important now!
Pauses are wonderful because as one famous quote states, “life happens while we are living” and sometimes other situations come up that need our attention and money in some cases.
Either way it is alright to have pauses along your journey as long as you eventually get back to pushing the play button once again towards your goal.
Financial Goal Setting is about determination.
The most important aspect of the pauses is the ability to “stop thinking about it all the time” and just do the necessary work.
A perfect example is the person who makes the decree that they are going to save a certain amount of money every payday as a new resolution for financial increase.
They spend, so much time talking about what they could be doing with that money before it even arrives in their hands or their account.
They keep encountering all these other items that they “should or need” to purchase once that money arrives in their hands instead of putting it away as agreed upon.
The perfect “pause” solution would be to have your financial institution simply take out the amount you wish to save from your check upon arrival, and automatically place it in a savings account or similar account that you don’t readily have access to.
This way the temptation of the money in your hand is reduced because the money goes into the account before you even get access to it.
5. The arrival
From the example above, you can quickly see that this new habit will allow you to save and just forget about that amount, which will lead to your final key.
That key is the arrival date of your financial goal. Time is a constant and it will be the future sooner than you know.
Implement your baby steps with these 5 financial keys and I know very soon you will have met and exceeded your financial goals.
Financial Goal Setting is about completion.
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