Create A Plan
June 4th, 2006 | by Molly's Brother |Every action worth following needs to begin with a plan. Otherwise, how can you measure your progress? Many of us aren’t goal-oriented individuals. Sometimes, this can get us into financial trouble. Learn how to develop a plan and stick to it.
Identify your goal
Are you interested in building up your savings account for an emergency fund? Are you looking to pay off your bills? Are you saving up for next summer’s two-week getaway to Paris? First, articulate what your goal is. If you haven’t stuck to a plan before, it’s easier to start off with smaller goals and achieve those first rather than setting your sights on something that is too ambitious.
Develop your objectives
Once you have your goal in mind, count backwards to set up signposts along the way. If you are saving $5000 for next year’s vacation, you need to figure out how much money you need by certain dates.
Evaluate and re-evaluate
Constantly look at your overall goal and evaluate your progress along the way. Don’t be afraid to tweak your plan if you notice areas that are lagging behind.
This may seem obvious to many of you out there in the blogosphere, but far too many people don’t know what it takes to set up a simple plan of action. And it’s that fear that keeps them from trying to develop one.
