Setting and Achieving Personal Financial Goals
One of the keys to living a fulfilling life is knowing where you’re going – financially, spiritually, and emotionally.
Having realistic goals motivates, excites, and pushes you forward to get the most out of yourself and from life’s experience.
When your financial life is in order and you’re en route to accomplishing financial goals that support your values and dreams, you’ll be a happier, more self-confident person as a result.
Begin fulfilling your own personal financial goals today by following these helpful tips:
1. Brainstorm ideas, without editing
Grab a writing pad and pen, then sit in a quiet room where you won’t be disturbed for about 30 minutes. Write down as many financial goals and dreams you have, as fast as you can write without editing. Just allow your thoughts to flow onto the paper freely without judging or trying to over-analyze what you’re writing. There will be plenty of time to edit and refine what you’ve written later on.
Think about financial difficulties that frustrate you now and financial dreams you’ve been afraid to pursue as you work on these possibilities. Consider what you’d do if it were impossible for you to fail at what you’re after.
Think about every aspect of your life as you brainstorm ideas…
- Would you like to own your own home?
- Do you dream of more personal freedom?
- Do you want financial independence?
- Would you like to help someone in need of financial assistance, maybe in your family or circle of friends?
- Do you want an unlimited supply of money for your children’s college education?
There are a world of possibilities, and you may never think of them until you do an exercise like this.
2. Now, prioritize your list
After 30 minutes you should have a page or two full of financial goals you’d like to achieve in your lifetime. Think about which of these goals is most important to you, then prioritize them accordingly.
Which ones sound the most exciting to you? Which ones give you a feeling of peace inside?
These are the ones that should migrate to the top of the list.
3. Next, write down all the challenges that stand in your way
Choose 3 to 5 financial goals that really excite you, then create a new page for each one. Write the end goal at the top of the page.
Then, list every reason you think you couldn’t achieve this goal at this moment. Write down every challenge that might stand in your way.
- This list of obstacles provides you with incremental steps to take that will quash your fear of failure. Refer to this list later, asking yourself how you could overcome each challenge on the list. What resources would help you reach your goal faster? Who can help? What information do you need that you don’t have currently? What are the next steps to take after that?
- There’s no sense denying that there will always be challenges on the road to financial goals. You can, however, think through those challenges to meet them head on, to overcome the limitations of each one. This is the mindset of those who accomplish the things they want most, and once you’ve adopted this attitude, nothing can stop you from reaching the goals you set.
4. But first, create an emergency fund
If you’re prepared for bumps and detours on the road to financial success, you can dramatically increase your peace of mind, your sense of excitement, and the joy you receive from life.
Things may go wrong for you financially, but keeping one month’s income set aside as an emergency fund frees you from the financial stress you’re currently feeling.
- Commit yourself to using this money only in case of real emergencies as you plan your financial future. Keeping this fund intact keeps the train of your financial dreams on track for today and tomorrow. You’ll find yourself worrying less and less each day about your finances.
5. Focus on taking action, in small steps
Keep moving forward, put one foot in front of the other every day, and you’ll find this to be type of strategy that makes your financial dreams come true. Don’t hinder your progress by taking on too much too soon.
Focus on the end goal, and take one step at a time until you reach the financial destiny you’ve always wanted for yourself.
Finances are a frequent source of stress in many people’s lives. If you diligently follow these steps and put them into practice, your financial situation will change – it’s inevitable!
You’ll spend more time getting excited about your future and less time chasing your tail in search of an elusive dream you never seem to find. A healthy financial life earned through perseverance and hard work supplies peace of mind that is a well-earned reward.