Setting and Achieving Your Financial Goals the Right Way

Your ability to set goals is the master skill of success. Goals unlock your positive mind and release ideas and energy for goal attainment. Without goals, you simply drift and flow on the currents of life. With goals, you fly like an arrow, straight and true to your target.-From the Book 'GOALS! By Brian Tracy

Frankly, have you set financial goals to achieve? Financial goals differ from one individual to another. Perhaps it is because they depend on the available resources, the wants of an individual and other factors. Many people unknowingly set too high goals which eventually lead to failure and disappointments. There is a way you can set your goals to avoid failure and being disappointed.

Four Tips for Achieving Financial Goals

1.) Measure Your Goals: This helps you to evaluate progress and make changes with the aim of attaining your goal. Specify details like the total amount you want, your sources of income, the amount you'll be saving each month etc. Always specify things that can be measured so that you know how you'll achieve your financial goals.

2.) Make them Realistic and Attainable: Your financial goals must be realistic and attainable. Make sure that they're attainable. Some individuals set their goals that are simply impossible to reach. Also make sure that each of your goals can be attained within a specified period. Take into account your current resources. You're able to achieve some of your goals faster than others.

3.) Be Specific: Your financial goals should be specific. This lets you know which stage you're currently in. Many people want to be promoted so that they pocket huge salaries, get rich quickly etc but these are vague goals. It is possible for your mind to become confused about what you want to achieve but try as much as possible to be specific while setting your goals.

When you describe your goals in a general way, your descriptions usually do not have boundaries and there is always room for compromise. Being specific means you need to include all the details. For example, write down something like, "I want to make one million dollars by the end of October this year."

4.) Set Timelines and Deadlines: You'll never succeed if you don't set deadlines for achieving your goals. Specifying the date makes you work hard instead of putting off your goal to some other time. Some of the goals might take several years to achieve. It is smart to breakdown these long-term financial goals into a series of smaller objectives with deadlines. You'll be able to complete everything in the proper sequence and eventually attain the long-term financial goal.