understand that getting what you want doesn't always come easy. More often
than not, it takes work to achieve the results you desire. And getting
out of debt and securing your financial future is no exception. This requires
dedication, perseverance, and strong money management skills.
Goal-setting is the
first step to future achievement. This often means creating a long-term
plan; featuring tasks and deadlines along the way. If you've ever seen
a motivational speaker, you know the common cliché here: "People
never plan to fail; they just fail to plan".
Often when people write down their goals, they discover that some
of the goals are broad and far-reaching, while others may seem smaller
in scope. Dare to dream, but be realistic about what you can attain. Because
goals can vary so differently, a good idea is to break them down into
three separate categories of time. One more thing to remember: Placing
a timeframe on your goals really depends on a lot of different factors,
so that timeframe can change anytime.
Long-term goals are those that won't happen in the short term, no matter
how hard you work to achieve them. These generally will take a long time
to accomplish, so give yourself a reasonable amount of time based on your
best estimates of what it will take to achieve them. Examples of long-term
goals might include purchasing a home, or college education for a child.
Whatever the case, these goals generally require longer commitments and
often more money.
Intermediate-term goals are those that can't be executed overnight but
might not take many years to accomplish. Examples may include purchasing/replacing
a car, getting an education or certification, or paying off your debt
(depending on the amount).
Short-term goals generally take under one year to achieve, based on the
date the task is needed, the total estimated cost, and required savings.
Now, ask yourself,
what exactly are your goals? Make up a list, decide which timeline your
goal(s) fit into, detail the steps necessary to achieve your goals, then
take action toward reaching those goals.
If you have questions
about setting goals, please contact us.
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