The first step is goal setting!
Look at the goals you set for your finances this year. On January 1st of this year what did you say you wanted to create?
I hear lots of people say:
I want to improve my credit OR save money OR get out of debt.
I know those seem like great goals, but I’d hate to tell you that they’re not. They’re empty words that just sound good, but they don’t help you actually make progress in your finances.
As you get ready for 2016, here’s how I want you to create your financial goals:
- Be specific.I consider undefined goals to be nothing more than dream killers which is why most people fail at New Years Resolutions. To achieve financial goals you must be deliberate about your intentions by using concrete numbers, dollar amounts, percentages, dates for accomplishment, etc.
So, Instead of saying I want to save more, make your goal to save $1000 by March 31, 2016.
- Next, Be deliberate. Once you have great specific goals, you have to get a plan in place to reach them. Divide big goals into smaller steps so you don’t become overwhelmed.
So, now your goal to save $1000 becomes, saving $333 per month or even $85 per week. Doing it this way allows you to look at your spending and see what you can cut down or cut out to make that happen. Even if you have to get radical and sell things to hit your goal, at least now you know what you’re aiming for.
- Last, I want you to be accountable. After you’ve got your big goals all worked out and even have action steps to keep you moving along, don’t make it OK to not hit your goal.
Get an accountability partner who can support and encourage you to achieve your goal. You need a friend or family member you trust who won’t let you off the hook.
Best of luck to you and yours! I’m hoping 2016 is truly your best year yet financially.