Where Do You Want to Be?
With personal debt at its all-time high and the shaky economy, having personal financial goals may have been driven to the bottom of the things to do pile never to be seen again.
Make a Dream List
But without some direction it can be hard to know where we want to go. Personal goals do not need to be huge they maybe some small things you want to accomplish today, tomorrow or next week. Or they may be bigger ones for the future.
Either way, you should take some time out for yourself, even just 30 minutes, with no TV, or interruptions and sit with an old fashioned pen and paper and start dreaming. Think of the things you want to do one day and some things you need to do right now to feel better.
This will be your personal idea list. Let it flow out and write it all down. That is your very first step to financial goal making.
Now take those dreams and things you want to do and sort them into short term and long term. Starting with your short term, look at the list and see if there is anything you could see yourself working towards right now, right this minute.
Maybe you want to get rid of a credit card that is weighing your down, or pay off that car. Either way, pick a short term goal and this will now be your purpose.
This may be enough for one day, but if you are totally inspired then keep going. This is where it can get tedious. You need to figure out where you are right now with your money. You cant move forward unless you really know.
Start With an Attainable Goal
So, with your new goal in mind, get out all those bills and statements and grocery receipts and see just how much you are spending each and every month. Then compare it to what you bring home with your pay check.
Now work out how much you need to pay extra per month for that credit card to disappear or loan or whatever small item you picked. Start looking for it in your budget. Cut out trivial things that you dont need. Organize your food using a crock pot or plan menus ahead to avoid too many take-outs.
Dont cut out all entertainment or you will go nuts, you still need fun in your life, because life is right now. But pick and choose which dollars will give you the most fun. Going without that pizza mid-week means more for your goals. Pack sandwiches to take to the game instead of burgers.
Take that extra money you have carved from the month and put it aside quickly so that it doesnt get absorbed back in. Now setup another savings account and setup an automatic transfer at your bank. Think of this goal as another bill you simply have to pay. When it gets to the amount you need then apply it to that goal you had, and then pat yourself on the back.
Feel in Control
You will feel better and now you can work on the next one. Picking one thing at a time to work towards will stop you from feeling overwhelmed and help you feel more in control.
So start that list of dreams today and get working on it.