Set Goals and Change Your Life Today
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Whether for business, career, health, finance, social or hobbies, we should understands the power of goal setting. Many people don’t believe that they could achieve significantly more than they are currently achieving in their business, their health and their lives just by setting goals. Setting goals gives you long-term vision and short-term motivation . It focuses your acquisition of knowledge, and helps you to organize your time and your resources so that you can make the most of your life.
What Does SMART Mean?
Setting SMART goals means you can clarify your ideas, focus your efforts, use your time and resources productively, and increase your chances of achieving what you want in life. A SMART goals must be:
♦ Specific (simple, sensible, significant).
♦ Measurable (meaningful, motivating).
♦ Achievable (agreed, attainable).
♦ Relevant (reasonable, realistic and resourced, results-based).
♦ Time bound (time-based, time limited, time/cost limited, timely, time-sensitive).
Set SMART Goals
Financials Goals & Spending Planner
What is a Financial Goal?
When it comes to personal finance, everyone’s situation is unique. No one has the same bills, rent, debts, or lifestyle. When you’re ready to take control of your financial lifestyle, you need a plan that will answer your specific problems.
A financial goal is a target to aim for when managing your money. It can involve saving, spending, earning or even investing.
Creating a list of financial goals is vital to creating a budget. When you have a clear picture of what you’re aiming for, working towards your target is easy. That means that your goals should be measurable, specific and time oriented. The stage of life you’re in usually determines what type of goals you wish to achieve.
Once you’ve decided what your financial goals are, your Spending Plan will help you stay focused. With your goals mapped out and your savings and Spending Plan in place, you’ll be more focused on what you’re trying to achieve and less likely to drift from unplanned purchase to unplanned purchase.
How Does a Spending Plan Help You Achieve your Goals?
A Spending Plan that fits your needs and is flexible over time can help you achieve your financial goals – the short-term, the long-term, and the unexpected.
Here are six ways a Spending Plan can help you.
1. Spending Planning Helps Reduce Stress
Higher stress means less sleep and more health issues. Most financial worry comes from not knowing where you money is going or if you have enough. When you have a plan for where your money is being spent, you are in control of your money – not the other way around.
2. It Helps You be Prepared for the Unexpected
The unexpected is going to come up, and the best way to be prepared for it is to have an emergency savings. Decide what you can save each month without making your pocket too tight, and you will quickly see the savings grow and be motivated to keep it up.
3. It Helps Identify Your Spending Leaks
When you have a Spending Plan, you are seeing what your spending trends are, and you are forced to take a look at your spending habits. Common spending leaks that many of us have and don’t realize, are potential savings if we were to cut back. For instance: Eat out instead of cooking on weekdays or Grabbing a soda and a snack from the vending machine five days a week
4. It Helps You Keep Your Eye on the Prize
Once you’ve decided what your financial goals are, your Spending Plan will help you stay focused. With your goals mapped out and your savings and spending plan in place, you’ll be more focused on what you’re trying to achieve and less likely to drift to a unplanned purchase.
6. It Helps You Be Flexible
Your Spending Plan can, and should, change over time. Your wants, needs, and income change. As you evaluate your planned spending against your actual earnings and expenses for the month, you can identify if tweaks need to be made.
Stop wasting your time and money, keep your goals and values align and start achieving your goals today!