Goals provide direction and help one to focus on one thing at a time. There are a thousand and one things that seek one’s attention daily. That is why it is important to set financial goals to guide your direction at every period. If you fail to plan, they say you are planning to fail.
One thing that is worth noting is the fact that things don’t just happen, one needs to be intentional in making things happen. Therefore, I encourage you to take these simple steps to set your financial goals for the year if you have not yet done that. It is better to do it late than never.
1. Set SMART financial goals
In setting your financial goals, you must be very strategic and honest. Many people end up not being able to achieve their goals because they build castles in the air. Instead of setting realistic goals, they do otherwise. It is important to follow the acronym called SMART when setting your financial goals.
That means that every financial goal you set for yourself must meet the criteria of being specific, measurable, attainable, realistic, and time-bound. If any of these ingredients is missen, it may affect the output of your efforts at the end of the day. An unrealistic goal that is not measurable and without timelines will only be a white elephant.
2. Write down your goals
That is also very crucial when it comes to setting financial goals. Some people are fond of imagining their goals in their minds but will never write them down. However, studies have shown that those who write their financial goals down are ten times more likely to achieve them than those who do not put them on paper. That is because it is easy to lose focus on unwritten goals compared to goals that are written down. Written goals can easily be referred to.
3. Have an accountability partner
Accountability is an antidote to laziness and procrastination and has the potential to propel one to success. Everyone needs an accountability partner no matter their status or level in life. Having an accountability partner means you have someone who will hold you to your word and make sure you are doing something towards obtaining your goals. Sometimes, it is easy to give up when things get tough, but when you have someone committed to standing by you and encouraging you, you can push beyond your limit and unearth your hidden potential to achieve your dreams. However, you must be selective in choosing your accountability because not all that glitters is gold.
4. Do regular evaluation
This point coming last does not mean that it is less important. At every stage of one’s fight for financial success, it is important to have a regular evaluation of how you are doing as far as your goals are concerned. Evaluating your progress at regular intervals will help you identify challenges and think of solutions to the same so that you can attain your financial goals. I can confidently say that following these tips outlined above means you are 30% well on your way to achieving your financial goals.
Perhaps you have already set your financial goals for the year, but it is funds that have been your major challenge. Worry no more. Get in touch with SRF today, and you will be sorted.
Reach us by phone: 0501565882/0240061709 or email: enquiries@srfcredit.com