Goals are accomplishments you work toward that fulfill your values. These could include paying off your debt, purchasing a home and saving for retirement. By listing your short- and long-term goals, and aligning them with your values, you might discover a few spending habits that don’t fit in the grand scheme of things. This will make it easier for you to justify cutting these expenses out of your life.
When listing your financial goals, ask yourself:
• S – Are my goals specific?
• M – Are my goals measurable?
• A – Are my goals attainable?
• R – Are my goals realistic?
• T – Is it possible to reach my goals within a certain timeline?
Do my goals prepare me for unforeseen circumstances or potential challenges in life?
How are you planning to reach your goals? What specific steps do you need to take? Your plans are essentially the financial “baby-steps” that you take every day toward achieving your goals. By writing down these plans it will be easier to visualize yourself achieving your goals and fulfilling your values.