What are your financial Goals ?
This week’s financial tip is putting together your financial goals.
At this point you have your monthly budget and you have a pretty good idea what your net worth is. By having your budget and your net worth, you have the tools needed to set your financial goals. Your financial goals can be whatever you want them to be. Perhaps it’s a new car or vacation. It could be repairs on your house or it could be catching up on all your bills. In order to develop good sound goals you must be disciplined and be ready to set and implement your goals. This will make you feel very empowered and in control of your life with your finances. A change in behavior can go a long way in reshaping one’s finances through a sound budget and financial goals. Writing down your financial goals and make them achievable and ways to reach them. Commit to a sound plan and follow through with it. Next you need to prioritize your goals and if they are short term or long term.
Next create a Financial Goal action plan. This action plan identifies the steps needed to make these goals reality. Make sure in your action plan you think about what is needed to accomplish your financial goals. The more detailed and refined your action plan the more successful you will be accomplishing your financial goals. Make sure your goals are realistic and achievable. Financial goal setting allows you to actively work toward achieving your goals you want, to manifest them through action. By learning to calculate your budget, net worth and you financial goals you will have created a solid knowledge base and a foundation for financial health.
Until next week this is Your money, Your future, I am Carmen Johnson, your Financial Educator and the Founder and CEO of the Katie Able Foundation. Please check us out at Katieablefoundation.org and remember, Do something to justify your Existence, TOGETHER we can create the future!