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Financial Goal Setting

Financial Goals

You may not be the type of person that enjoys writing down goals and then following a plan to accomplish those goals. Perhaps you are just trying to survive...maybe it's time to do more than just survive...

(the following is drawn from "Building Wealth: A Beginner's Guide to Securing Your FinancialFuture,")

  • Goals should be realistic - like saving up to buy your next car with cash
  • Goals should have time frames - short term, such as saving up cash for Christmas (and not using credit cards), and long term, like paying off your house in the next 10 years
  • Make a plan - If you want to pay off your home in 10 years, figure out how much extra you need to pay on the loan each month (payoff calculator). Next, by looking at your budget , decide how you will reallocate your monthly expenditures to allow you to make the extra loan payments.
  • Stay flexible - circumstances beyond your control may dictate that you rethink your goals, the key is to keep moving with purpose.