Tips for creating financial goals that you can crush
Hello Beautiful!
Let’s crush our 2023 financial goals
I don’t want you to just achieve your financial goals this year, I want you to crush them!
Creating financial goals that you will achieve goes a little deeper than making a list of things you want to accomplish.
While we are still in the month of January, it’s not too late to think about creating financial goals, if you have not already done so.
So, how do you create financial goals that you will actually achieve?
I got you!
But wait, can you believe that January is almost over! It went by so fast. Well, let’s get started.
Every year around this time people make New Year resolutions, and set goals that they don’t keep. I know, I’ve been that person. There have been times when I have completely forgotten about them by March, and other times where I have accomplished a few, but not all, and there were times when I nailed it!
How does that happen? You, achieving your financial goals.
I love the scripture, Habakkuk 2:2, “Write the vision an make it plain on tablets,…”
I can’t stress how important the act of writing out your financial goals will be to your success. Many people want to skip this step, but right there, that should send an alarm – are you really ready to achieve your goals? Or are you just dreaming? Let me say this, without putting it in writing, without a plan that you intend to work, it’s just a wish and a dream. That won’t get you what you want. I will share with you the process I will be using on my journey.
First, let’s talk about a goal setting strategy that’s quite popular – S.M.A.R.T. goals. I’m sure many of you have heard of this acronym, but I’ll review.
S.M.A.R.T. Goals:
• S – Your goals must be Specific. You need to be able to identify it.
• M – Your goals must be Measurable. You must be able to track your progress.
• A – Your goals must be Attainable. Okay, you gotta be realistic, is it something you can really do? Yes, you may have to work hard.
• R – Your goals must be Relevant. Does it mean enough to you to work for it? Is it important to you?
• T – Your goals must be Time-Bound. You have to set a date for when you will achieve your goals. However, this should stress you out.
Establishing SMART goals will make your process more quantifiable. Next, let’s talk about the process.
10 Steps for writing out your financial goals:
1. Identify your goals. What will they be?
2. Write everything down. I can’t stress this step enough.
3. Prioritize each goal: Which one to do first? Which is more important?
4. List what your objectives will be. How will you accomplish your goals?
5. Determine the methods you will use. This is your action plan; the steps you will take.
6. Establish a date to achieve our goals, including a timeline with checkpoints/benchmarks (these identify tasks you should complete at designated points, on the way to the finish).
7. Develop a “Backwards Plan,” including your benchmarks. (Something I learned in the military).
8. Calculate the cost – time, money, resources, family, sacrifices, etc. What is it really costing you?
9. Work your plan!!! Note – many people won’t do this, and wonder what’s wrong with the plan. Hm…
10. Last, and incredibly important – Have Faith & Believe!!!
Now after all that, you still may not achieve your financial goals. You say, “what?!”
So, what will it take for you to actually achieve your financial goals for 2023?
5 valuable elements that will get you to the finish line, and make it possible for you to actually achieve your financial goals:
1. Values – Your goals have to line up with your values – what’s important to you, and for your family. It cannot be counterproductive to your big picture financial plan.
2. Your “Why” – This is your reason you are doing what you are doing; it is your motivation. Your “why” has to be STRONG enough to compel you to action.
3. Focus – You will need to have visual reminders of your goals. This is why vision boards are so popular. But you know, a post-it will do, a 3X5 card, stick it on your bathroom mirror, or the inside of your front door, somewhere you will see it daily, and are reminded.
4. Accountability – Have someone that you can share your goals with; someone that will hold you accountable, and that you can check in with, someone who can encourage you, be your cheerleader, and get you back on track when you’re not doing anything.
5. Commitment – Here is where the heart check and gut check comes in, is your goal something you just want, or are you willing to do what it takes to accomplish the goal? There is a big difference between being committed to doing something and just wanting it. When you are committed you are willing to do what is necessary to achieve your goal; you are willing to put in the work, and make the sacrifice. Without the commitment, it’s just a want that is no more than a wish.
I hope you are ready to crush your 2023 financial goals, because I am.
Embrace the journey!
Warmly,
Your sister
Kim