20 Feb 2008 01:46:56 | Tim Gorman
Setting goals is difficult enough without adding the word
finance in the mix. Many people are reluctant to tackle the task
of determining financial goals. Unfortunately failing to do so
can have an adverse effect on achieving a comfortable lifestyle
later on in life. This article helps to guide you in
successfully determining financial goals that you can actually
achieve. Before setting your financial goals there are 3 simple
rules that must be followed. You will first need to learn to how
effectively control your day-to-day financial affairs.
Consistently doing this will allow you to do the things in life
that bring you satisfaction and enjoyment. This is commonly
referred to as making a budget. The next requirement is to
choose a course of action that you can follow to financial
success. Finally you must build a financial safety net such as a
personal savings account or retirement investment. Simple Steps
To Setting Financial Goals Step 1 - Identify and write down your
financial goals. This will help you visualize your dreams and
desires in the form of goals. This can include saving to send
your children to college, buying a new car, saving for a down
payment on a house, going on vacation, paying off high interest
credit card debt, or planning for your retirement.
Step 2 – Take the time to break down your financial goals into
several smaller more manageable time driven steps. These include
short-term (less than 1 year), medium-term (1 to 3 years) and
long-term (5 years or more) goals. Doing this simple task will
make your goal setting process easier and more attainable. Step
3 – Educate, Educate, Educate – Spend some time doing your
research on financial topics. Read magazines and books on
finance related subjects such as investing. Surf the Internet's
for investment web sites and don’t be afraid to learn about the
stock market.
Step 4 – Periodically check your progress through a
self-evaluation. You’ll want to check your progress monthly,
quarterly, or at any other interval you feel comfortable with,
but at least semi-annually, in order to confirm that your
program is working. If you're not making a satisfactory amount
of progress on a particular goal, re-evaluate your approach and
make changes as necessary.
Remember there are no hard and fast rules for implementing a
financial plan. It is okay to dare to dream about riches, just
be realistic about what you can actually do. When you write your
goals down for your visualization process you will identify any
that seem unobtainable and quickly see the more realistic goals
that will lead you to financial success. The important thing is
to at least do something as opposed to nothing, and to start NOW.
Timothy Gorman is a successful webmaster and publisher of
Best-Free-Insurance-Quotes.com. He provides insurance
information and offers discount auto, life and home insurance that you can research in your pajamas on
his website.
Other websites operated by Tim
