Wednesday, July 1, 2009

Setting Financial Goals

Most people have some sort of financial goals that they want to achieve. However, sometimes we fall short of reaching them. Here are a couple tips to help you reach your goals.

First, visualize your goal. Clearly state exactly what the goal is. Don't just say you want a down payment for a car. Be specific. You need to save $4,000 for a down payment on a car. Now you can figure out how exactly you are going to do this and how much you need to save out of each paycheck.

Now that you have the goal, write it down. Read it everyday. Maybe you want to hang it on your fridge or on your mirror in your bathroom.

Give yourself a deadline. Without a deadline the goal is nothing more than an idea.

Stay focused on your goal and don't get side tracked. There are always going to be temptations out there that try and steer you away from your path. Stay strong and remember the reward of reaching your financial goal will make all your dedication worth while.

For more Frugal Fridays head over to Life as Mom.

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