goals

Tomorrow Never Comes

by Kim on December 27, 2010

There is just one more week in this year.  This is a great week to take an inventory of your personal life.

I know you have friends who have set New Year resolutions; maybe you have even set one or two yourself.  Wikipedia defines a New Years resolution as “a commitment that an individual makes to a project or the reforming of a habit, often a lifestyle change that is generally interpreted as advantageous.”

Look back on this last year and ask yourself if you met those resolutions or goals you set for yourself.    It you are like me there are probably some goals you have met successfully.  Chances are there has been a time or two that you have said “I will start that goal tomorrow” and like me you probably know that tomorrow never comes and there is a goal or two you missed.  Hopefully the missed goal was replaced by a new goal or project that was met.

Either way, take an inventory of yourself and determine why you didn’t meet a goal.  Be specific and honest with yourself.  Understanding why you didn’t meet a goal is a good way to readjust your planning  so you can meet your goals next year.

Speaking of next year, after you review this past year; take some time to set specific goals for next year.  Don’t be broad by saying “I want to lose weight”.  Be specific and set the goal similar to this “I will lost one  pound a week to reach my goal of 20 pounds of weight loss by March 30”  A goal like that takes out our natural desire to procrastinate.  It takes away the excuse of “I will start tomorrow” and helps us look at today as the day to start.  Sure the weight loss example was just that, an example.  What ever the goal, set it with specifics.

To help meet that goal, write it down on several 3 x 5 cards and place them in several areas of your house.  On the bathroom mirror, the refrigerator, the visor in your car, your desk at work.  This will give you positive reminder and reinforcement of the goal.

Tell someone close to you what your goal is and ask them to be your accountability partner…maybe even be their accountability partner as well to help them with a goal.  When we tell someone else about a goal we set it makes it real and who wants to explain to someone else why you didn’t accomplish something…an accountability partner add a little more incentive to attain your goal.

There may even be times when hiring a coach who specializes in the area of the goal you have set is an excellent option to meet that goal.  Athletes do this all the time.  Business owners hire coaches as well.  Chances are those who consistently meet the goals they set for themselves have done so with the help of a coach.

Remember when it comes to goals and resolutions, tomorrow never comes and today is always here.  Be successful, start today.

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10 Thoughts On Setting Financial Priorities

by Kim on October 26, 2007

Becoming debt free, building wealth and taking control of your finances does not happen overnight, nor does it “just happen”, it takes planning, commitment, and dedication. It is important to set goals as I discussed in Debt Free Goal.

Setting goals requires you lay out and acknowledge your financial priorities, but how do you do that, start here:

1. Be realistic.

You probably won’t be able to achieve every financial goal you have ever dreamed of. Don’t just identify your goals, decide what is most important to you and your family. By concentrating your efforts, you have a better chance of achieving what matters most.

2. First goals are the one’s that matter.

It isn’t about what you want most, but rather what is most important. You may have to postpone the “fun” stuff like a new boat or a special vacation in order to pay off credit cards. This doesn’t mean you can’t have the fun stuff, it just means you have to do them on a different time table.

3. Prepare yourself for multiple goals with the same level of importance.

There may be multiple important goals which conflict with one another. When faced with such a conflict, you should ask yourself questions like: Which conflicting goal will benefit more people? or Which goal will cause the greater harm if it is deferred?

4. Time is on your side.

Building wealth does not happen overnight. Time is on your side. Money in interest-earning savings accounts or invested in mutual funds, stocks and/or bonds grows and compounds. The more time you have, the more chance you have of success. Your age is a big factor.

5. Choose carefully.

In drawing up your list of goals, you should look for things that will help you feel financially secure, happy or fulfilled. Some of the items that end up on your list may include building an emergency fund, getting out of debt, investing, paying off your home and paying tuition for your children. Once you have your list together, you need to rank the items in order of importance to you and your spouse.

6. Include family members.

This is very important, if you have a spouse or significant other, make sure that person is part of the goal-setting and priority process, if married, you cannot do this alone, it just won’t work. If you have children who are a little older, and are able to understand some basic financial talk, include them as well, it will be a good learning process for them in many ways, such as how to set goals, how to improve communication in a family unit, and how to manage money.

7. Tomorrow never comes – Start now.

Don’t put off to tomorrow what you can do today. The longer you wait to identify and begin working toward your goals, the more difficulty you’ll have reaching them.

8. Focus on your behavior.

Once you have prioritized your list of goals, build your budget and stick to it. Whenever you make a large payment ask yourself, “Will this purchase bring me nearer to my primary goals — or will it lead me further away from them?” If a big expense doesn’t get you closer to your goals then it is not in your best interest.

9. It is not all about long term planning.

Much of what I have discussed is based on long term planning and goals, however most of life is lived in the here-and-now. Most of what you spend be for daily expenses – including many that are simply for fun. Fun is okay, and should be part of your plan and priorities. We work hard for our money, and even though we have our financial goals and priorities, that doesn’t mean we can not have fun. Plan for the fun in your budget.

10. You change so should your goals and priorities.

Your needs and desires will change as you meet goals and as you age, I recommend you re-examine your priorities at the end of every year and possible re-adjust at least every five years so you stay in step with your life as you grow.

You will make mistakes, don’t beat yourself up to much when you do, but learn from them, and then get back on track as quickly as possible.

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