Goals and Your Finances

Goals are today’s topic for Financial Literacy Month 2014: Your Finances from A to Z.

For the month of April, we will be bringing you daily posts centered on our personal finances – saving, making and managing our money.

Regular supporters of Divas With A Purpose know that I am a huge supporter of S.M.A.R.T. goals in our personal and professional lives. Goal setting is the first step in attaining financial freedom. By specifying what you want to attain, it gives you clarity and something to work towards. It gives you motivation and inspiration. It provides accountability and helps you to formulate SMART goals. It’s hard to get anywhere when you don’t have a starting or ending point.

S.M.A.R.T. Goals for Financial Success

Be SPECIFIC about what you want to accomplish – pay down 25% of your debt; save $1000 in a year; bring past due accounts current; improve your credit score by x amount of points; etc

Make sure your goals are MEASURABLE so you can track your progress and see the areas that need additional attention or focus.

Make sure your goals are ATTAINABLE / ACHIEVABLE. If your goal is impossible to achieve will only frustrate you and cause you to stop trying all together.

Be REALISTIC based on your time, talents, knowledge and resources.

Finally, make sure your goals are TIME-BASED. Having scheduled check-in and completion times help keep you motivated and focused on what you’re wanting to accomplish.