Setting Financial Goals
My last few posts have covered some goal setting basics, and have stressed the importance of having goals in all areas of your life.
Today I want to cover one area, and that is the idea of setting financial goals.
The first step in personal financial planning is learning to control your day-to-day financial affairs, enabling you to do the things that bring you satisfaction and enjoyment. This is achieved by planning and following a budget.
The second step in personal financial planning, and the topic of this section, is choosing and following a course toward achieving your long-term financial goals.
As with anything else in life, without financial goals and specific plans for meeting them, you will just drift along and leave our future to chance. A wise man once said: “Most people don’t plan to fail; they just fail to plan.”
The end result is the same and it is a failure to reach financial independence.
The third step in personal financial planning is learning how to build a financial safety net, which is the equivalent of having a retirement fund for when you are no longer generating any income.
To read more of this post go to Setting Financial Goals
Great article Alan! I have already set my goals but I learned some things I didn’t Know. Thank you for this article.
Hi Truby,
It’s great that you have already set goals. An area that many people neglect is to keep their goals under constant review, and adjust them as circumstances change.
Alan Thomas / Home Business News
Financial goals are alittle haywire and blurred now.. I thinks it rather hard to expect what you will get down the road..
Whatever my financial situation is, I have one formula I use.
15/15/70 = 15% to God, 15% to savings/investments and 75% to bills/spending.
Great article Alan
Leon Bowes
Ben,
I agree that the market is uncertain at the moment. But that shouldn’t stop people from setting effective goals for their personal finances.
Alan / Setting Goals Effectively
Leon,
That is a great target to aim at. I have no doubt that you have the will-power to stick to it.
Alan
Hi Alan
Really good advice. One does need to plan and budget
as well in order to reach the goals they want to achieve.
Michelle Jayes
Michelle,
I haven’t always taken good advice in the past, but this is one are I have worked on to get better.
Alan
Financial planning, budgets and goals are crucial to the success of any household or business.
Hi Alan,
I spent a lots of money without setting financial planning so this info is good for me to learn.
Thanks
Kha
http://www.homebayarea.blogspot.com
Jo,
Thanks for your comment.
Alan
Kha,
You are right, by setting clear goals you can save a lot of money and hassle in your business.
Alan