With 2019 right around the corner, it’s time to start thinking about what we would like to achieve in the coming year. Many have goals pertaining to finances, whether it’s to save for retirement or a down payment on a home, build wealth though investment or reduce debt. In fact, more than 77% of Americans were expected to make a New Year’s resolution for 2018, and this trend is sure to continue as we head into 2019.
Create financial goals you’re sure to achieve. Here’s a plan to keep you on track:
Identify what you want. We often don’t reach our goals because they are not what we want, but what others say we should want.
Assess your financial situation. Once you’ve set your priorities and know what you want to achieve this year, review your complete financial situation.
Set SMART Goals. When creating your goals keep this acronym in mind.
Specific and written
Measurable in progress and completion
Realistic in time and skill
For each goal state specific and written monetary amounts, and the time frame in which you plan to achieve the goal.
Make a plan. Once you’ve specified your goal, create a plan to make it a reality.
What do you track to achieve your goals?
Defined steps to achievement
Place a visual reminder of your goal in sight.