The beginning of a new year for most of us means turning over a new leaf or taking action in some area of our life that needs changing. The top five financial goals that are usually set each year are: save more money, invest smarter, cut taxes*, get out of debt and get a better job.
This year make your resolutions stick. We often hear the merits of setting goals. Unfortunately, not everyone understands how to formulate goals and carry them to completion. Here are four steps to help you achieve your goals:
1. Put it in Writing – Write down your goals in terms of what will be present when it is reached. For instance, if you simply say that you have a goal to save more money, you do not have a good goal because it is neither specific nor measurable. But if you say that you want to save $100 per month for the next 12 months, you will know exactly by a certain date if this goal was achieved.
2. Make it a Priority – Once you have written the goal down, ask yourself “How important is this goal? Is it a wish, a want, a desire or is it really a priority in my life? The problem is: Goals usually don’t equal outcome. Priorities do.
3. Schedule It – Once you have determined each goals priority, the next step is how to get it into action. Scheduling is daily, weekly, monthly, annually, this way you are more likely to turn your dreams into reality. Put it on the calendar and create a systematic process.
4. Follow Through – Once the schedule is decided, it is a matter of discipline. By this I mean determining that your priorities are worth keeping and striving to attain, no matter what.
Following these four steps should help you turn 2008 into the year that you achieve what is most important to you and your family.
For more information contact Rebecca Robins, CPA/PFS, CFP™, CA Insurance Lic#0D75745 at 661-222-2331. *For specific tax advice, we will work with you and your tax advisor.