Are your financial goals set in concrete or can they be blown away as easily as a dandelion?
Achieving your dreams and creating the financial future you want always begins with one important first step: a goal. Whether you're looking to help your child set goals so she achieves academically or have your own financial or self-improvement goals for the New Year, there IS a science to setting and meeting them.
A 2010 study in Applied Psychology followed college students who went through a multi-step goal setting program. Those who followed it completely showed significant improvement in their grades compared to those who did not.
While New Year's resolutions are notoriously short-lived, a clear process will put any objective you've set for yourself within reach. No matter what you have in mind, you can apply these steps to whatever goals are important to you, and the whole process should take less than 90 minutes.
1. Take a few minutes to write about the financial future you'd like to achieve. It's okay to start with a vague idea, but include as many specific details as possible.
2. Looking at the financial future you've envisioned for yourself, pick six specific and attainable financial goals that could help you achieve that future.
3. Number your goals according to their order of importance.
4. Look at each goal and write a paragraph about how achieving that specific step will benefit you.
5. For each financial goal, break it into smaller more manageable steps.
6. Identify obstacles that may get in the way and come up for a strategy for overcoming them should you need to do so.
7. Write about your commitment to reaching these ultimate financial goals.
That's it. Sound easy? Perhaps. But by taking the step of committing your goals to paper and working through these steps, you've laid the groundwork for success.
A goal is simply a dream with a deadline....may all your dreams come true!
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Reality Based Budgets for Teens and College Students – Jan. 16th
Our next Financial Education Workshop will be Reality Based Budgets for Teens and College Students. It is a post college simulation of renting an apartment, buying a car, and developing a spending and savings plan. It is a fun and interactive session for the whole family and really opens the door to discussions about managing money. If this is something you or a member of your family needs, please feel free to join us. These workshops are open to the public.
Reality Based Budgets
6:30pm January 16th at our Chesbro Main Office Location
5615 Chesbro Ave, San Jose CA 95123
Please RSVP with Gmeyer@meriwest.com.