Happy January! The time of year where many make goals and resolutions about exercising, eating healthier, business/work, family, and/or financial. Me personally, when I worked on my 2019 business plan, I developed personal goals at the same time. No matter what your goals or resolutions, you need to make sure they are visible and find an accountability partner or two.
Here are some ideas to keep you on track if you are thinking about financial goals:
- Identify what you want, not someone else’s goals!
- Assess your financial situation completely including banking, investment, debt, and other pertinent financial information.
- The tried and true, set SMART Goals: Specific & Written, Measurable in Progress & Completion, Attainable, Realistic in Time & Skill, Time-bound.
- Make a plan on your specific goal to implement immediately.
How do you track your goals and achievement? Do you use technology or the old paper method? Is it a combination of the two? Personally, I use a combination of the two! I find having it both ways keep me better motivated and I can always refer to my goals no matter where I am. Here are a few financial suggestions for tracking:
- Prepare a budget providing a visual of your spending, income, and expenses.
- Closely track your expense to keep you committed to your budget and goals.
- Create a specific plan with defined steps to achieve your goals.
- Have your goal visually displayed for a powerful reminder and motivation.
Everyone starts out with great intentions, as the year progresses, unexpected setbacks or challenges happen. When they do, dig in and set your mind to readjust and focus, then you have a better chance of meeting your goal if not exceeding it.
What are your goals for 2019? Where do you want to be at the end of the year? How will you get there? What tools will you use?
Cheers to an incredible 2019!