Write down your financial goals
What are your financial goals? You may hope to get out of debit, retire early, or have a million in your super by the age of 65. Whatever your goals, the first step to achieving them is to write them down. Writing out your financial goals, setting a timeline and steps to achieve those goals will mean the difference between financial success and failure. If we fail to plan, we are planning to fail.
Benefits
- Solidify what your goals are.
- Work out if they are achievable and realistic.
- Put good habits and clear deliverables in place.
Implementation and cost
- Write down everything you want to achieve financially, now and for the future.
- Figure out which goals are immediate, short term, and long term.
- Turn your goals into SMART goals. This will ensure your goals are specific, measurable, achievable, relevant, and timely.
- Make a budget so that you can know exactly what you're working with and if your goals are achievable.
- Monitor your progress and adjust your goals accordingly as your circumstances change.
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2