Financial Success: It Pays to Have Financial Goals

Setting financial goals is equivalent to creating a roadmap to guide you in a direction toward financial stability, growth and fulfillment. Without a plan, financial success will end up as a wish or dumb luck. This position, is one I do not desire for anyone. Looking back and wishing is never fun and downright depressing. To shape and secure a prosperous future, it is critical to establish financial goals.

Let me tell you a little story of what we do as a family. Every few years my wife and I sit down and write out all of the bigger financial decision we plan to make. These topics range from car replacements, new/used campers, moving, a boat, remodeling rooms, driveway remodels, roof improvements, saving goals, or family trips we would like to take. These purchases will be different depending on the individual or couple.

These are all longer term bigger items, but we write them down so we can set up our yearly and monthly goals. Knowing our bigger goals, helps us see what we need to do on a monthly basis to reach them. We work backward in a way, but the act of talking about goals puts us on a level playing field for our financial future.

Other Ways Financial Goals Help

Financial goals create clarity and direction. Just like my family’s story above, financial goals act as our compass and provide clarity in the chaos of expenses, investments, future purchases and savings goals. Setting clear financial goals gives us the direction we need when other shinny objects show up. If the shinny object is not something that helps us reach our goals, it is easy to pass down. Without goals, we would chase and snag them up every moment we get. It is human Nature.

Financial goals create motivation and discipline. Setting goals will help avoid shinny objects that can often derail us from our financial goals. We use goals as motivation and know shinny objects can steal from our future. When individuals have a specific financial goals in mind, they are also more likely to stay focused and disciplined which fosters better financial habits.

Financial Goals allow for measurement and achievement. There is a saying that goes something like “what gets measured gets managed.” Goals serve as measurable milestones and allow individuals to track their progress and celebrate achievements along the way. It could be paying off debt, hitting a savings target, or buying that new car with cash. The thing that is bought does not matter as much as the feeling that comes with it when you know it was planned for. The sense of accomplishment for staying committed to your goals reinforces the security of your financial journey.

Finally having financial goals creates stability and readiness for your future. We all know life is unpredictable, and financial goals act as a barrier against life’s uncertainties. Knowing your finances and setting yourself up for success though goals will give you the stability and readiness to take on any financial blunder that may come your way. It also gives you the option to jump on a good opportunity if one comes your way.

In Conclusion

Financial goals are not simply numbers on a page. They are the pillars that support a stable and secure financial future. By establishing goals upfront, individuals create clarity, motivation and a sense of achievement. Through proper planning and dedications, financial goals are the tarmac through which your financial journey will become stable, grow and prepare you for the future.

If you need a hand to get started and unlock your future,

Hit me up and I will get you on the right track. Helping people is where my heart lights up every single time.

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