Achieve Your Financial Goals for 2007, pt. 1
January 2nd, 2007 | by Molly's Brother |If you’re like me, then you have the typical American love-hate relationship with New Year’s resolutions. Every year, as you approach the end of December, cultural pressures force you to take stock of your life, identify your problem areas, develop a plan, and implement the necessary changes by January 1.
It comes as no surprise that, ten days into the New Year, I’ve shrugged off my resolutions, tossed aside my motivational approach to making this year different, and have fallen back into old habits. (i.e. the gym bag sits unpacked near my door as I snack on a bag of Doritos while watching a very special Oprah.)
This year can be different though. Below are five strategies that can help you achieve your goals–on January 1 or anytime throughout the year.
Keep It Simple Let’s be honest, you kid yourself every year. Although the past ten years, your behavior has produced X results, you think that in the course of a couple of months, you’ll become intensely focused and able to entirely revolutionize your approach to life. Uh, no. You know that the simpler your goal, the easier it will be to attain. Start with a simple, clear, easily attainable goal. In time, you can tweak your expectations and expand your goals as the year progresses. Start simple. Start small. You’ll start succeeding.
Make Your Goals Possible Understanding your abilities (and limitations) is key when you’re creating financial goals. Achieving your goals leads to feeling successful. Establishing impossible goals leads to frustration, disillusionment and–ultimately–failure. Visualize an end result that is attainable. If you find that you have $25,000 in credit card debt, is it really possible for you to eliminate that debt in the next twelve months? If not, then figure out how much of it is financially feasible to eliminate. That’s a possible goal.
Develop A Plan Few things in this world are achieved without a clear plan of action. Write out your specific week-to-week or month-to-month goals. Your plan of action will help you stay focused and intent on success.
Touch Base Often Now that you’ve developed a plan, make sure that you review your progress. You may have to touch base with your progress daily, weekly, or monthly depending on your specific goals. But remember that you need to revisit your progress often.
You’ll Fall Off the Plan–and that’s okay. Understand that you will falter from time-to-time. The key here is to get back on the horse as quickly as possible. So you went shopping and charged $250 on the credit card that you’re paying down? Don’t take that as a green light to destroy your financial goals for the year. Realize that you made a mistake, try to rectify the situation (if possible), and re-focus your approach.
Go out and make 2007 the year that you reeled your financial chaos in. It really does take one small step after one small step after one small step. In no time, we’ll be sitting here on the eve of 2008, and you’ll look back over all the small steps you took throughout the year.
