It’s 2022, with the new year passing, many of us made new financial goals and resolutions. Whether it may be saving a set amount every month, financial independence, paying off debts, saving for a car or house, growing a business, or reaching a credit score of 800, staying consistent with following your goals is the hardest part. Here are some tips to stay on track to achieving your goals.
- Set achievable goals
Setting unrealistically high goals are discouraging when unattained. Expecting to save 50k in a year on an income of 60k would be unreasonable. Use SMART: Specific, Measurable, Attainable, and Relevant goal setting to set practical goals.
- Break down your goals to smaller pieces
Setting the goal is just the first step. We need specific goals with timelines to ensure we are on the right path. Setting and achieving small goals like putting 10 percent of your monthly income into savings may seem minute for the first few months but after staying consistent for years, it adds up to a significant amount. Achieving multiple goals also builds your confidence and good habits.
- Get organized
Filing your taxes and keeping track of your records is crucial in the long run. Staying organized makes your financial life easier and systematic. Save time by staying organized and focus your attention on other priorities and goals.
- Share your goals
Telling your friends and family goals you are comfortable with sharing helps keep you accountable. People who care will check in and support your passions. Finding someone with similar goals can not only inspire you with goals you didn’t realize, but also help you stay consistent on track.
- Review your goals
Keep your goals in sight, physically write them down. Revisiting your goal daily, weekly, or monthly is a good power booster. Checking in a few times can help you through tough times, when you feel like giving up.
- Visualize the results
Visualization keeps us motivated to execute the actions needed. Manifesting these goals gives us the incentive and excitement to keep working at the goal.
The information contained herein is based on internal research derived from various sources and does not purport to be statements of all material facts relating to the securities mentioned. The information contained herein, while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable. Opinions expressed herein are subject to change without notice.