Keeping your Financial Goals

Setting financial goals sounds great when you say them, but what about achieving them? If you don’t know how to execute the steps to reach your goals, they are just words. Whether you’ve fallen into the ‘New Year’s Resolution’ trap, or you are turning over a new leaf, here are X simple ways to keep your financial goals.

Make your Goals Achievable

It doesn’t do any good to set goals you can’t achieve. Instead, set goals you know you can hit. Even if that means setting baby-step goals so you can see your progress, do it. Just make sure each goal can be measured.

For example, don’t say ‘I want to have more money in my bank account.’ Instead, say ‘I will save $250 in my savings account by the end of the month.’ It’s specific and measurable. It creates accountability.

Find an Accountability Partner

Find someone that has the same financial goals as you and hold each other accountable. It’s a lot harder to overspend when you know you have to answer to someone else. For example, let’s say you have a goal to save $1,000 but you’re at the store and see something you ‘really need’.

If you don’t have an accountability partner, you might spend the money and forgo the savings. But if you know you have to answer to someone, you might think twice or even call him/her to talk you out of the impulse buy.

Track your Progress

Track how you’re doing every step of the way. You might have setbacks and that’s okay, but make sure you see your wins too.

If your goal is to spend less money each month, track your spending and see how you did. Even if you saved $10 this month, it’s a win, right? Recognize your wins so you feel empowered to keep going.

Change how you Talk about Money

Don’t talk about money negatively. It all comes back to you. Instead, say positive things. For example, instead of saying ‘I’m so bad at managing money,’ say ‘I am learning how to save more money.’

Whatever you tell yourself is what you’ll believe and how you’ll act. If you say you’re bad at managing money, you’ll manage it poorly. You’ll spend more than you intended, or you won’t save money. But, if you say you’re learning or even that you’re good at it, you’ll live up to what you say – the power is in your words.

Final Thoughts

Keeping your financial goals isn’t easy, which is why these steps are necessary. Don’t try to do it alone and don’t set unachievable goals.

Make your goals realistic and get someone to partner up with you. If you aren’t sure where to start or you don’t have anyone to hold you accountable, contact the professionals at Creditaid. The credit counselors can walk you through your finances, step by step, helping you set and achieve your goals.