How to Identify Your Financial Goals?
Have you identified what your financial goals are?
What do you want to accomplish in the 3 months, year, 5, 10, 15. or even 25 years.
I encourage setting aside time with a note pad and first write your values, goals and future dreams.
What would you like to see in the future financially? Do you want to be debt free? Retire early? Enjoy some traveling?
Create SMART Goals!
S-Specific
M-Measurable
A-Attainable
R-Realistic
T-Timely
Identify 3 Financial Goals
I encourage 1 short term, 1 long term and one FUN goal.
Here are a few ideas to get you started!
Emergency Fund and Savings Accounts:
If you are looking to save money, I encourage you to open up a separate savings account at a different bank. It is less tempting and available to use.
Create a plan of attack for your debt: Do you have credit cards, student loans, car loans, personal loans, mortgage etc. Set realistic goals and time frames to be debt free. loans? If you have fallen behind on payments reach out for help. Banks, credit card companies and the IRS are willing to work with you. They have payment options, resources, and creative programs to get you back in on track.
Save for Christmas: What is your budget for spending this Christmas. if you are tight on funds, be ok with spending less. Do DIY projects, instead of gifts choose experiences with family and friends. I encourage set 20 or so dollars aside each month to build up your Christmas savings account.
Buy a home: Meet with a loan officer, realtor or financial advisor to begin the process and seek if and when it’s the right time to purchase.
Build wealth: Are you looking to build with buy putting money into your retirement, investments, IRA’s etc. Meet with a certified financial advisor to begin that process.
Travel: Where do you want to go? Is there a dream trip you want to go on? I encourage setting short term and long-term goals with travel. We all need that weekend getaway but also a trip to look forward to.
Save for College: If you have children begin setting money aside for your college tuition, board and financial needs.
Giving: Maybe you are in a good financial situation and are able to give to others. Find a charity, individual, organization that you can donate to.
What are your financial goals?
Looking to get financially organized and create some goals?
Consider grabbing the Financial Budget Binder over on Etsy!
Let me know in the comments below.
Blessings,
Lisa Hice
