FINANCIAL GOALS

"There's more to do with your money and more your money can do."

You’ve probably heard about goals ever since you were in high school, and then more in the form of questions like "What are your goals for the next five years? What are you going to do with your life? Where are you going to college? What kind of job are you going to get?" ---and on and on it goes.

Asking questions about your money is pretty much the same process. Dream big and small about the future. AND the future doesn't have to be in five years, ten years, or when I retire at age whatever! List some money goals for 3 months out, like Spring Break plans or a summer vacation at the beach. BUT if you want to have money for the future, you need to have some of those questions, too.

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Financial Goals Worksheet
Write down the answers. Get it out of your head onto paper so you can decide which goal is first priority and how much money will be needed to reach that goal.

A written goal gives you clarity, focus, and direction.  Make them SMART. but remember, “Shift happens”. You may have to change your goals and that’s okay. You will have many twists and turns on the road to financial self-reliance.  You'll need some flexibility!

Some references to help you with financial goals:

• Priortize - Financial Goals-Prioritizer Calculator
• Take the First Step -more tips about setting financial goals
• Goal Setting’s Big Payoff - How to Really Stick to Your Goals and Resolutions - article by Dave Ramsey, financial adviser, author, speaker, TV and radio personality

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Read and think more with these references.

Young Money Magazine, December 08/January 09 edition: “A famous Yale study found that the 3% of Yale graduates who had written goals had more wealth years later than the other 97% of the class combined.” 

Financial resolutions you can live with by Jason Alderman, Practical Money Skills for Life

Get Financially Fit in 2011 from SmartAboutMoney.org

Making Financial New Year's Resolutions by Kimberly Palmer, US News&World Report-Money, 2008

 

I want to build wealth so I have to think about money differently. I want to control my money and not have it controlling me, like the way some people live from paycheck to paycheck.