Do you feel like you’re just spinning your wheels but never getting where you want to go financially? You’re not alone. Millions of people just don’t know how to set clear financial goals and move towards them. It’s like they’re on a hamster wheel watching others succeed. Here are the secrets to getting off the hamster wheel and making real strides toward your financial goals.
1. Write down your goals
Get a notebook and write down your financial goals. Put the date on it so you can look back and see how long it took you to reach them. When you have your goals written down in black and white, they become more real. They will also feel more achievable when you’ve laid them out to look at again and again. Hang up the paper on the fridge or on a bulletin board. This way, you’ll see it everyday. It will be a reminder to keep moving towards them.
2. Make Goals Specific
Vague goals won’t motivate you. Make each of your financial goals as specific as possible. Instead of saying I will save $5,000, say, I will save $416 a month for 12 months. The more specific your goals, the better.
3. Make a Vision Board
A vision board is a visual representation of your goals. It helps to have pictures of what you hope to achieve. Many people are surprised by how their dreams become reality when they use a vision board. Cut pictures from magazines or print pictures from online of what you want. If your dream is to be a homeowner, use pictures of home similar to what you want. Hang the vision board where you can see it even day.
4. Take Action
Writing down goals and cutting out pictures won’t make your financial goals a reality. You need to take actions that will move you toward your goals. Examples might be getting a second job. You could drive for a ride-share company or make deliveries. You could open a savings account and make regular deposits. Don’t sit back and wait to win the lottery. Moving toward your financial goals requires action.
5. Be Honest With Yourself
Never try to lie to yourself or fudge the truth when it comes to your money. Don’t think that you’ve put $20 in savings when you only put in $18. The truth is always best. Take a good hard look at your finances. Are you spending too much on non-essentials? Do you have a bad habit that’s costing you hundreds of dollars every month? Take a long look in the mirror and promise to yourself that you will be honest about finances.
6. Keep Track
Have you ever wondered where all your money’s gone to? You need to keep track of where your money goes, every day. Use whatever tool you want. Accounting software, phone apps or just a piece of paper. Be like a miser and track every penny.
These are tips that you can use right now to set clear financial goals and move towards them. Now that you know, there’s no reason not to start right now!