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Writing Down Financial Goals

Posted by Kayleen Kavanagh on 6/2/2015

 

At SmartLab, we’ve written about the Money Value of Time, but what about the value of writing down your financial goals?  It stands to reason that you can never achieve a goal you have not set, but so many people desire to find wealth without ever taking the time to set the financial goals to get them there.

For instance, last year I evaluated my budget and spending habits and penned a goal of saving a certain amount of money by a specific timeframe.  For months prior to writing down that goal, I thought regularly about what it would take financially to buy a home.  I continued spending money just the same and felt I was Robix setting financial goalsyears away from being a homeowner.  It wasn’t until I sat down to face my reality and set some financial goals that I actually started to work toward accomplishing my goal for which the value I attached to it was a home.  And, guess what??  I am now a homeowner!  What kept me from setting an achievable goal was being intimidated by the unknown.  By writing down my main goal and the sub-goals along the way, I overcame the fear that was delaying my dream.  In retrospect it seems these fears were silly and a waste of time.

Whether you currently write down your goals, would like to find out how to set realistic goals, or are just interested in reading an informative article, Forbes published an article last year entitled “Why You Should be Writing Down Your Goals”  which could really motivate you to get started.  The article makes a clear case for goals, as a 1979 Harvard study of their MBA students revealed that writing down goals resulted in 1,000% greater earnings in 2014!  How about that fact for some added motivation?

Listed below are a sample of goals and the values that could apply to them.  How many of these have you visualized and are in common with your current or future goals?  What has kept or keeps you from saving for their reality?  Go ahead – jot down some of your own financial goals and the values you apply to them.  We’ve made it a little easier and included a template to print out and goal-the-heck out of.  And, remember, if you’d like to talk out your financial goals, we’re here for you too.

 


Financial Goal


Value(s)


College Education


Career, Home, Family


Retirement


Not Working Forever, RV, Travel


Savings


Vacation, Wedding, Emergency


Pay off Debt


Save More Money


10% from each Paycheck


Computer, Car, Iphone

 

A Financial Goals Get Started Chart 

 

Meet the blogger

Kayleen Kavanagh

Kayleen Kavanagh

Kay started with Logix in early 2009 and has held a few different member service roles. She enjoys sharing her positive learning experiences with hopes that we can all continue down the path of smarter banking.

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Feel free to peruse about. Here you’ll find stories, posts and tools aimed to assist you as you’re faced with daily to once-in-a-lifetime financial quandaries. This is your SmartLab (lab coat optional). We want you to get the most from our articles, and we welcome your ideas to help us continue to bring valuable content to you. Check out the comment section at the bottom of every post for easy ways to share feedback. We’re learning, too, and what better way to encourage smarter banking than to share tips and resources with each other? Not to mention, it’s a great chance for us to get to know each other!

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