When setting financial goals, the goals you set must be realistic. Don’t set goals that will overextend you financially or put a hardship on you or your family.
You will find that some of your goals are long-range, such as purchasing a home, and some are short-range, such as establishing good credit. Is your goal to be debt free? Do you desire to invest in your retirement? Would you like to qualify for a low interest rate credit card? You need to evaluate what you want to accomplish financially and set a plan of action. The following steps will help you achieve your financial goals:
Step 1: Write out your goal. This makes a commitment.
Step 2: Visualize your goal. Cut out a picture of what you want to accomplish. It may be a house, a car, a dream vacation or a needed appliance. Whatever it is, cut a picture out of a magazine and put the picture in a place that you can see it for reinforcement.
Step 3: Set a time frame to accomplish the goal. Remember with establishing credit, it can take several months to get approvals. Be realistic on setting dates.
Step 4: Write out your plan of action.
Step 5: Remove the excuses you have for not following through with your goal. Get rid of these phrases, “I’m too busy,” “I don’t have time,” “I’ll do it later.”
Step 6: Anticipate any situation that may arise that will cause you not to accomplish your goal. If you know of anything in your credit portfolio that could cause you a problem, find a way to correct it.
Step 7: Define your motives. Are your intentions to build a credit portfolio for the future, or for only material gain? This must be determined before you send out your first application. If the motive is only for material gain, DON’T DO IT!
Step 8: Look at all your past experiences. Learn from them.
Step 9: Believe you can accomplish what you start out to do.
Step 10: Do first things first. Do not dwell on what you need to do. Just do it! Follow through with your plan of action.
Remember, your goals will change throughout your life. As you accomplish financial goals, set new ones. Careful planning will not only help you accomplish your goals, it will also give you the boost toward building a successful credit and financial portfolio.
About the Author
Deborah McNaughton is an author and credit expert. She is founder of Financial Victory Institute, which specializes in financial education. Deborah has programs to train individuals to become credit consultants and teach financial seminars.
I would be a hypocrite if I said I had never carried out the act of “regifting”. I think most people have done it at least once in their lifetime, even if they won’t admit to it. There is a time and a place for it, but you need to be mindful that you don’t hurt anyone’s feelings. Some people are really open about the fact that they “regift”. I’ve had people wrap up a novel and give it to me as a gift after they had read it. It didn’t really bother me. I just found it amusing that they actually told me about it. If they hadn’t, I would have never known.
Here’s a thought – rather than giving your loved-ones yet another gizmo or gadget that they neither want nor need, why not consider supporting a charity in their name? Let them know how special they are to you by helping someone else out and providing them with a gift card.
It’s a lot of fun preparing for the Christmas season. There’s always so much to do. Parties to attend, gifts to buy, and more. I want to share some of my favorite Christmas recipes with you. They are fairly easy to make and they don’t cost a lot of money. They are great for serving at parties and if you package up a variety of your baking, they make great gifts as well. Invite a friend over to bake with and it will make your time even more enjoyable. Sometimes it’s also fun to do a “bake swap”. Each person involved bakes something different and then you arrange a meeting and exchange your baking. That way you end up with a wide variety of goodies without making each kind yourself. Happy baking!
A great way to save money on your Christmas tree this year is to buy a nice artificial tree that you can use for more than just one season. Although a good quality artificial tree may be more expensive than purchasing a real tree, if you use it for ten or more years, you will save a lot of money in the long run. You will also eliminate the hassle and mess of a real tree, and you will be able to pack it away in a box to use next year. Don’t buy a really cheap tree because it will likely end up being poor in quality and then you won’t be able to use it for as many years. It’s better to pay a bit more now and then have it last you for a long time.