Setting Financial Goals

What is it that you really want?
What do you want to do with your money?
What sort of things do you dream about that you simply don’t have the money to do (or buy)? Is it an overseas holiday? A new car? A new house? A pair of designer shoes? Or perhaps your goal is to simply spend less on your groceries every week or to build up your child’s education fund for when they grow up.

Whatever you want to do with your money is absolutely achievable if you create a goal, write it down, make a plan and start taking small steps towards achieving it. If you keep dreaming about it, it will continue to be exactly that … a dream.

Have a goal (several goals!) and you’ll find that the changes needed to your spending and saving habits will be far less overwhelming. And it’s a great idea to break down your goals into groups; the ‘right now’ goals, goals for the next few years and goals for the long term future. All of your financial goals will ultimately be aligned with your vision of the life you’re trying to create for yourself.

Putting pen to paper and knowing what it is that you want and then saving for it is exciting because it means you’re working towards something that you really want. Whatever it is, the hardest part is actually STARTING. But when you do, you’ll surprise yourself at how easy it is and how quickly your balance begins to grow.

Write down your goal and put it somewhere you can see it every day. And even better, put a picture of what it is you’re working towards right next to it. Having a visual reminder will be your anchor point and will keep you focused so that on the days you’re tempted to spend what you’ve already saved, you’ll be reminded of what you’re working towards. Share your goals with friends, family and colleagues so that they know what you’re working towards. They’ll be a great support and you’re more likely to stay accountable to yourself because you’ve put it out there. And you never know, one of them may want to start saving for the same thing so then you’ll have someone else to keep you on track and you can have a lot more fun with it.

Take a look at what it is that you want. Figure out how much it’s going to cost, decide when you want the money by and then calculate how much you need to set aside from each pay to make it happen.

When it comes to goals, like anything else, it’s important to stay motivated because as soon as it gets boring and you lose interest, you’ll find yourself spending that money quicker than you can say ‘what money?’. Also be prepared for setbacks, big or small. Sometimes life throws you a curve ball and you may need to dip into your savings a little bit. Don’t give up and don’t be too hard on yourself. Set a new goal and get back on track.

The best part about setting goals is the satisfaction you feel when you achieve it!
Sitting on the beach on the holiday you saved for …
Signing loan contracts for the house you just purchased …
Wearing the amazing outfit you just bought …
Cutting up the credit card you just paid off …
Driving the brand new car that you just picked up …

Create a goal, commit to achieving it and reap the rewards when you do!


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