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financial goals

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5 Tips To Help You Reach Your Financial Goals

With the economy the way it is and the fiscal future of the world precariously balancing between security and certain doom, more and more people are finding it important to not only set financial goals, but also to meet them. Some of the greatest financial advisors will tell you that you can’t just hide your money under a mattress to save enough money to live comfortably. Becoming financially savvy – whether you want to eventually put down money on a house, start a business, or send your kids to college – takes a full lifestyle overhaul.

Here are 5 tips to help you reach your financial goals:

Let the whole wide world know. Okay, maybe not the entire world, but at least your friends and family. You are much more likely to save money if people know you are trying to save money. The psychology is simple – you don’t want to face the shame once you go broke, so you will do everything you can to meet your financial goals. Not only that, but if you are deciding to buy a car or house or any other big item, your friends and family can step in with valuable financial advice.

June 11, 2013

General

How To Create A 5 Year Financial Plan

Creating a five year financial plan is a great way to map out your future and plan your life accordingly. We might not be able to look into a crystal ball to see how our lives play out 20 years or more down the line, but we can usually get a clear idea of what our fiscal future will look like in the next five years by drafting a simple plan. A five year plan will also help you set certain goals and help you meet them. Perhaps you would like to start a family and you want to know if you will be able to afford things, like a new house and all the other costs that go along with having kids.

Here are some ways you can create a 5 year financial plan:

For one, you want to know exactly how much money you make in a certain year, after taxes. You also want to add up all your regular expenses and forecasted expenses to give yourself a little bit of a cushion. By doing this you will get an accurate reading of how much money you will be able to save in a year. This way you can add up the savings for all five years to get a macro perspective of your savings, after taxes and after all your expenses.

April 5, 2013

General

5 Tips For Setting Smart Financial Goals

Everyone seems to have the same financial goals in mind when you get down to the simplest of terms–we all want more money. Of course, finding ways to achieve our goals can be extremely difficult. For business owners, investors, and average individuals everywhere, setting smart financial goals is more necessary than ever. Only by being smart about your goals can you turn your dreams into reality, so get started on the right path today.

Define Your Goals
Before you can set out to achieve your financial goals, it will help to know what they are. As they say, if you don’t know where you’re going, then you can’t possibly know how to get there. Set aside some time to figure out specific goals that you want to achieve. Perhaps you’re shooting for a certain level of home equity, an increase in your investment returns, or a jump in profits from your business. Think about exactly what it is you want and be as specific as possible to start setting smart financial goals.

February 21, 2013

General

Set Concrete Financial Goals for 2011

Today is the last day of 2010! It’s really hard to believe that 2010 has come and gone so quickly. Now is the time to reflect on last year’s successes and to plan ahead for next year. What do you want to achieve in 2011? What are your financial goals?

Picture in your mind what you want the next year to look like. Then, write down ways you plan to make sure these things happen. In order to ensure that you can meet your goals, you need to start early on in the year.

December 31, 2010

General

Do You Have A Bucket List?

Everyone needs to have a bucket list – a list comprised of things you want to accomplish in your life before your time is up. By writing down all the things you want to see and do, you are much more likely to achieve some if not all of your goals. Keep your list in a safe place, and every once in a while, glance at it and see how you are doing. This way you won’t lose track and you will be more motivated to continue on towards achieving your goals.

Some items on your bucket such as owning a cabin at the lake or saving for your children’s post secondary education will involve saving a fair amount of money, while some of your other goals may not be related to your finances.

November 9, 2010

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