Identify Your Financial Goals
Where do you want to go? Have your goals changed in the past year or two? Whether you’re sending kids to school, moving to a new neighborhood, planning a dream vacation or looking forward to a relaxing retirement, don’t let concerns about your finances stand in your way. Set realistic financial goals so you can start turning dreams into reality.
Keep Pace with Life Changes
Even if you already have a financial plan, keep in mind that every life stage may bring new and evolving goals. So, if any of these life events are on your horizon, it may be time for a financial tune up.
Write Down Your Goals
As you set goals, be sure to write them down. Studies consistently show that putting goals on paper makes you more likely to achieve them. Consider setting separate goals for the short, medium and long term, then break bigger, longer term goals into small, measurable steps so you’ll always know if you are on the right track. Use these examples of common short, medium or long-term financial goals to help inspire your own planning:
Monitor Your Progress
Your monthly account statement is a good reminder that it’s time to review your progress toward financial goals. In addition to balancing your checking account and reviewing credit card charges, take an extra minute to read through your short, medium and long-term goals. Look back on the previous month to see what you could have done differently then plan ahead to make achieving your goals a top priority. At a minimum, review your goals twice a year to make sure they still match your circumstances.
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