I know, its been a minute since I posted on financials. Well, since I posted at all really! Read on, soak it up, and enforce in your own way :)
Now more then ever, assuring your financial future is a necessity. Chances are my generation will never see a dime of what we are putting in to social security, so don’t you be that naive dumb butt who’s counting on it. Be as responsible as you can be today with your money and save yourself mucho stress in your later years.
Ideally your money should make you more money, that’s the ultimate goal, right? And that’s just where you start… goals.
Like general goal setting, some financial goals are immediate, while others will take long-term planning and organization. As a personal trainer, I am very used to working with individuals on personal fitness goal setting. But with money, it does not come as easy for me.
This is why I created a system of steps below to help me (and hopefully you) become less overwhelmed and more organized when setting your financial future.
Determine your desired goals: Duh! You GOTTA have desire to set goals and get the outcome from them, or you’ll never follow through. Research and figure out the best plan of action for your money. Find out / list the benefits to your new set goals. This will motivate you to adhere and work towards them.
Analyze where you stand NOW in relation to your new goal(s): Time to put on your big boy/girl pants, sit down, and analyze your expenses. Stop living for immediate gratifications and start living for your future. Look at expenses that realistically could be cut out and moved to more beneficial areas, such as a Roth IRA or 401K. Be as realistic and aggressive as possible.
Be Specific: When creating your goals have a specific plan. Instead of saying “Uuurr, I wanna save more towards retirement”, try stating you will “put $200 a month into X retirement account”. Have specific deadlines. “By March 2012 I want to have over $1,500 saved up solely towards retirement.” You will know the reality of what you can save after doing your budget analysis. “I will take the $50 a week I used to spend eating out and start making food at home, while putting that money into a CD.”
Start Small: Start with only 1 or 2 major goals so you do not get over whelmed. This will allow for a higher success rate and more money confidence.
Write it down: Write your goal (s) somewhere you see it constantly. If your like me, you need a daily reminder that eating the salad you packed for lunch instead of going to Noodles & Co. is better for your health, your wallet, and your big picture!
Practice Practice Practice: Work towards your goal daily. Every little bit helps.