Have you ever heard that you should set financial goals? Setting financial goals may sound scary or it may sound fun, but regardless as to how it seems to you, the reality of the situation is that it can be tricky.
Setting goals for your money doesn’t have to be hard! If a healthy amount of thought goes into financial goals before they are set, the odds of attaining those goals skyrocket.
Here are two great questions to ask yourself while setting your financial goals to keep you on track:
What do you want your finances to do for you?
The first thing that you should do when you start thinking about setting financial goals is to ask yourself what you want your finances to do for you. For instance: do you want to be super-wealthy? Do you want to maintain your current lifestyle? Would you like to improve the financial situation, either for yourself or for your family?
There aren’t any correct or incorrect goals. There’s no right or wrong answer when it comes to things you want to achieve with your cash. It’s just important that you take the time to find out what you want out of your financial life, and then set your financial goals so that you can get what you want.
But doesn’t everyone want to be super-wealthy? Probably. But even though most people wouldn’t return a million dollar check, most people don’t have that on their list of things that they have to do in order to live life happily.
Where are you, and where do you want to be?
Another good thing to do when you are setting your financial goals is to look at where you are and where you want to be. If you want to drastically improve your standard of living, it might mean making some investments in your education, or in the technologies or equipment that you use. On the other hand, if you want to maintain your standard of living, that might call for you attending classes to maintain a certification, or finding secondary or tertiary sources of income so that you can keep up with the rising costs of living.
If you find that your current employment is simply not going to allow you to reach your financial goals, it might be time for you to look into going back into school, garnering certifications, or looking into other careers that you might be able to use your experience and education to segue into.
How did you go about setting your financial goals for the first time?