Finishing Strong: Setting Realistic Money Goals

The old year, 2017 is quickly coming to an end. As with most other people, I start each year with a money goal. What I have come to learn over the past couple of years of doing this is that I have to adjust my expectations as I go along because life happens and changes occur. Despite the tweaks and challenges, I try as much as possible to not veer too far off my original goal.

Keep the goal at the front of your mind

If it means that much to me then it has be the primary focus of my attention. You have to constantly think about it and make sure that you are on target. It is easy to lose focus of the financial goal due to circumstances such as:

  • Spike in prices of consumer goods and services
  • Decrease in disposable income
  • Changes in life’s situation
  • Distractions and pressure from the environment

Although this is not an exhaustive list of circumstances, distractions is one the main reasons people lose focus of their money goals.

The goal is not set in stone

I tweak my money goal as you go along. When my circumstances change, rather than completely abandoning my goal, I make adjustments as much as I can but keep the overall purpose. If costs increase in one area of my plan I immediately make adjustments to accommodate the surge. That way the overall purpose is maintained.

Keep the finished line in sight

It’s always important to know where you plan to be in you goal. I set goals that I can manage, goals that are easy for me to accomplish. I believe in many small wins along the way that help me get to the finish line which is my overall outcome. Before I would be so excited to make big wins that I would set big goals and then struggle to get to the finish line. Since adjusting my expectations I have constantly made wins that help me move along efficiently and never feel overwhelmed.

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