Money Goals - Short and Long Term
Create Your Financial Future
Money goals help you create a secure financial future. Some of you may be concerned that the love of money could become an unhealthy factor in your life. But we all need money goals because everyone's life involves money, whether we like it or not. Learning to manage money is mandatory if we are going avoid financial struggles and problems.
Either Control Your Money or Your Money Will Control You
By this we mean if you are strapped financially due to a lack planning, without goals and have no financial direction in your life, you will be unable to bless others and you will be unable to model good stewardship for your children, family or community.
We can choose to have a positive or negative attitude towards it. Yes, when it's all said and done, you can't take it with you, but you've got to have it while you're here!
Setting Money Goals Will Put You on the Road to Financial Abundance
Creating your money goals starts with assessing your current financial situation. You must see where you are in order to see where you are going.
Begin with these simple easy-to-follow steps:
Use on-line banking. Look over your online bank account and learn to use the reports they offer. You will quickly begin to see where the bulk of your spending occurs. Do not place judgments on your spending, simply note where most of your money is going.
Create a realistic budget. Using a software program or the budget your online banking provides, pinpoint every last monthly expense you have.
Identify Your Excessive Spending. Brainstorm ways that you can cut back and begin to create your simple plan to spend less, save more.
Live completely within your means. Cut all your credit cards up except for one, the one with the best interest rate. Except for emergencies release yourself from the bondage of credit and if you do not have the funds, do not buy it!
Set Your Money Goals
Determine the amount of money you can save each month and resolve that this is money you will pretend you don't have.Once you've gotten a good grasp on your income and expenditures, it is time to decide how much money you can save each month.
Pay yourself first. Now that you know how much money you are going to save, create a savings account where you bank and have a set amount automatically deducted each month when you get paid.
Never touch this money. This needs to be an amount of money large enough to meet your long term goals over time but small enough that you can honestly live without it. Treat this account like money that comes out of your paycheck and goes to the IRS or Social Security.
Mvelopes is a very effective, online personal finance and spending management system. This revolutionary, award-winning system applies innovative financial software technology to the traditional envelope method of budgeting to help you manage your finances; and all while living within your income - and most of it's done automatically!
Determining to Finish Rich
Think long term here...Even though you may be up to your eyeballs in credit card debt, imagine those bills paid. Now imagine how much money you want to have amassed by age fifty, sixty or seventy. Allow yourself to dream. Do you desire to have a million dollars to retire on? For some people that's a huge number and for others it will not be enough.
Visit the websites listed below to utilize their free programs to educate yourself and begin formulating how much money you might could save knowing your current career and potential earnings in the future. Once you've accomplished that and have a general idea of your long term money goals, you'll be ready to take the next step. Creating a Plan in which you will set goals and identify the objectives necessary to meet those goals. You will create both short term goals and long term goals.
Setting Short Term Goals
Get Out of Debt!
Reaching your money goals may mean that you will change your lifestyle and involve assessing your values and real priorities in life. Once you have taken a personal inventory, you can decide what you really want to spend money on according to what your long term goals are. Your short term goals are those objectives that will enable you to "finish rich".
Creating a long term financial plan can be a very exciting and energizing endeavor. You are literally writing your dreams down on paper but these are dreams that are achievable! You can see the plan right on paper. You know where you are going. You may get off track from time to time and need to made adjustments to your money plan but determine to stay with it and get back on track by choosing the steps that will enable your following your commitment to yourself.
Begin Your Financial Education Learn the basics of saving and investing money.
Read books, listen to dvd's, go to seminars and study the plans that others have made. This will include learning about investing. You most likely will not be the hands-on person who will invest your money but learn enough to know who to trust and always follow your own intuitions. This part of reaching your money goals will come with time. Remember, Rome wasn't built in a day. So what if it takes you four years to give yourself your financial education? The four years will come and go no matter what. Your financial education will be one of your objectives to reaching your goals concerning money.
The 11 Best Money Saving Ideas of All Time at Debtsteps.com
Long Term Money Goals For Every Age
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Smart About Money
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