After struggling most of my adult life with setting goals and not following through, I was finally able to achieve the ultimate financial goal – becoming completely debt free! This post will explain how to achieve your financial goals!
Throughout my year long journey, I learned a lot about creating a plan, working towards a goal and finally achieving it. Whether you have you a short term, like saving up for a new iPhone, or a long term goal, like paying off debt or saving for retirement (or both types), you’ll use many of the same basic techniques.
If you’re working towards a financial goal and want to actually achieve it, apply a few of these tested tips and tricks.
1. Understand your money personality
What works for me may not work for you, and it’s important to understand your own financial personality and mindset. We all have our own style of managing money; some of us are savers, others are spenders and some of us are a little bit of each.
If you’re a spender you need to make it harder to access your funds so it isn’t as easy to spend money. If you get excited about finding a good deal and saving money, try using a few money-saving apps or tools that reward you for saving!
It’s all about understanding what your money personality is, because this helps determine your habits – both good and bad. Changing bad habits and reinforcing good habits is one of the most effective ways to see the changes you want and to accomplish your goals.
2. Make your goals specific
You don’t have to come up with elaborate goals or a 10 point plan on how to achieve your financial goals. But they do need to be specific. The more specific they are, the better chance you’ll have at reaching them. If you aren’t sure of what your goals are (or should be) try setting up a vision board, or Pinterest board, of all the things you want to do, experience and see in your lifetime.
I created a Pinterest board called a Leap List, which has photos of goals pinned that I want to accomplish before my next “leap” – this could be something like a graduation, wedding or (in my case) your 30th birthday. I didn’t spend hours thinking over what I wanted to accomplish, I just made sure that whatever my goals were, they were specific as well as inspiring.
3. Use the right financial tools to achieve your goals
Finding the right financial tools to keep you motivated is a big factor in staying disciplined and eventually reaching your goal. It might take a little time in the beginning, to research and find a new app or program that you enjoy using. But once you do, you’ll be well on your way to success.
I’ve said many times, but using ReadyForZero to track my debt was the main reason I am debt free today. They’ve built an awesome community of people and a really great product – both of which want to see people reach financial freedom.
4. Find a support system to keep you going
Creating a good support system is vital to actually achieving your goals and could mean the difference between success and failure. When you share your goals with your friends and family, you give other people the opportunity to share and encourage you.
You can even engage your online community to help keep you going. If you’ve got an encouraging online community (like I have), try using Twitter or Facebook for both encouragement and accountability. They can also give you tips on how to achieve your financial goals.
I did this when I was getting discouraged about paying off debt, and I asked my fans on Facebook how they overcome feelings of discouragement and wanting to quit. Their answers were one of the main reason I kept at it reached the finish line.
5. Celebrate small wins
It’s easy to become overwhelmed when you’re staring a big goal in the face, especially one like paying off debt. But you can’t be afraid of the big goals or neglect the little ones, they are both equally important. And every small win needs to be celebrated as if it was a big milestone – because it is!
It’s important to understand that achieving your financial goal might take many months or even years, so don’t expect to see results overnight. Celebrate the small wins along the way and learn from your failures. I am learning that life is full of both, and none of us will make progress without either of them.