Reaching Financial Goals

Thanks for sharing this!

What are your financial goals for the new year? Maybe you’ve made a resolution to take a great trip, buy a new home or become debt free in 2006.

Whatever your ambition, one thing is certain: Reaching your target will take planning. Here are tips that can help turn wishes into reality.

Stay focused—Your action list may be running over with a variety of needs and wants. For example, you may be saving for a vacation, a new house and trying to eliminate a surplus of debt—all at the same time. Unfortunately, that kind of financial multi-tasking can lead to overload.

So STOP! Take a breath. Now, instead of trying to do everything at once, prioritize. What’s most important to you? Focus on that goal and move on to the next step, which is …

Get a plan—What do you need to do to get from where you are to where you want to be?

To use a travel analogy, say you’re thinking of taking a trip. A weekend driving-type get-away can usually be pulled together with a phone call for a reservation at a chosen resort. But a month long vacation may require an airplane ticket, car rental, hotel accommodations and day excursions when you reach your destination.

Knowing what steps are involved—and taking time to plan each one—will help you reach your objective.

Rely on yourself, but ask an expert—No one is more familiar with your goals then you. And in many cases, you’re the best person to take charge of your financial life. But trusting yourself means recognizing when you need outside assistance.

For instance, if you’re trying to become debt-free because your credit is overextended, rely on yourself. Set up a budget and a payment schedule and get those balances down to a manageable level.

But if you’re drowning in bills that overwhelm your income and the creditors are knocking at your door, a credit counselor or financial professional can help get you back on track more quickly.

You might also like these posts

Article – Preparing for Hurricane Season Image source: By Nilfanion , via Wikimedia Commons. The map shows the tracks of all tropical cyclones which formed worldwide from 1985 to 2005.The Atlantic hurricane season begins June 1. While the 2014 season is expected to be a mild one, mild doesn’t mean storm-free. Getting ready early is a good idea—and early preparati...
Article — Locked Out Image source: UK, public domain, via Wikimedia Commons What’s on your computer? Your manuscripts? Work? Photos? What would you do if you were denied access to those files—if you were locked out by rogue hackers? If you’re shaking your head because you think nothing on your computer is of value to hackers, consider th...
Article — Tax Identity Theft Awareness Week Image source: Taxes are scary enough, without adding tax identity theft to the mix. The costs—$3.6 billion a year according to an estimate by the US Treasury Inspector General for Tax Administration—are scary, too. Unfortunately, both tax ID theft and the costs are on the rise. The US Federal Trade Commission...
Article — Your 2013 Federal Income Tax Return Image source: Whether you’re a part- or full-time freelancer, receiving income means filing a tax return. Here are three things to keep in mind as you look back at your 2013 business activity. Dates: The IRS will begin accepting 2013 business returns on Monday, January 13, 2014. For individual returns, the da...

We write. Visit us in Carpenter Country, a magical place that, like our stories, is unreal but not untrue.

Posted in Articles Tagged with: ,