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How to Set Financial Goals and Stick to Them

Though you may have money regrets, today is a new day! Your money regret may be letting a debt go into collections, taking money out of a retirement account when you shouldn’t have, or not saving at all.

Whatever the blunder, don’t let your finances being in such bad shape stop you from starting or beginning again. If your financial situation is out of control the worst thing to do is nothing. To get you pointed in the right direction here are some money goals to think about:

  • Pay off your credit cards
  • Save more money
  • Spend less and budget more
  • Stop using credit cards
  • Start investing
  • Buy a car with cash
  • Pay off student loans
  • Buy a home

If you’ve set a goal in the past and weren’t successful, review, evaluate and adjust your behavior as needed. With focus and diligence, you can reach your goals if you don’t continue to make the same mistakes you did before.

Set yourself up for success

It’s okay to dream big and start with the end in mind. Just be sure that however large your goals, you break them into smaller steps. I’ve found doing this makes them more attainable.

Achieving your money goals can bring you closer to personal financial security. Just saying you’re going to do something doesn’t cut it. You need a plan–a road map to build better lasting habits to help you get there. Following and sticking to a budget should be a goal for anyone serious about achieving larger financial goals. Here are some steps to help you accomplish your financial goals:

  • Write down all of your income, then allocate how you will spend each dollar in your budget. Try to eliminate the miscellaneous column too. You shouldn’t spend money when you go places that you didn’t budget for ahead of time.
  • When you create your monthly budget, don’t forget to keep your long-term goals in mind. Start planning and allocating funds to achieve them.
  • Track your daily spending and check in weekly to make sure your spending aligns with your goals and values.
  • When the month is complete, dedicate some time to review your habits and progress. Be sure to make any necessary adjustments and stick to them. This is to be done each month. No skipping.

This simple example shows you how you can start and develop good lasting habits to help you reach any financial goal. No matter your what goal is, you can get there.  Simply know what your goal is, how much you will set aside each month to achieve it and track your progress. In life, sometimes seeing progress is all we need to keep going.

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About Touya Kelley

Touya Kelley has spent the last 5 years of her life offering financial solutions to people. On her personal finance blog Break Free And Win, her goal is to help and encourage others to manage God's money well.

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