Creating a game plan to reach financial goals
Since I already defined my 10 financial goals, now I'm going to list up my plans enable for me to achieve these goals.
Trent had explained this activity in detail here. Basically, what I will be doing is to define the tasks that should be done in a regular basis (weekly, monthly, yearly). The generated tasks are the key steps toward accomplishment of the goals.
To simplify this assignment just remember the GOALS acronym.
- Generate list of tasks.
- Organize daily activities.
- Align personal objectives with financial goals
- Line up tasks according to priority
- Stay focused
Taking into consideration the above guidelines, I came up with the specific actions for my short term and long term goal. In case you want to know here is my sample of specific actions for my short term financial goal.
Long Term & Short Term Goals
In the previous task I have defined my 5 main values . Knowing these values allows me identify the personal meaning of success and satisfaction to understand how to focus on the goals.
From defining my values, I will now move to identifying my long term and short term goals which is my task today. Let me just share you a little bit of my opinion why I need to define and write down my goals and what needs to be considered in goal setting. 
A GOAL is a desired end result to which a commitment is made. It is important to set goal to be motivated toward task completion. For example, 13 years from now I would like to have enough cash to sustain college education expenses of my son. With this in mind, I will then set a goal to start saving a portion of my income regularly starting next year so that after 12 years I will have the enough money to support my son education. If I will not save as nearly as next year, I may encounter shortage in funding my son's college education which will eventually resulted to other financial problems that might ruin my personal finance plan.
What are the benefits of having goal in fixing your finance:
My Five Main Values
This is the first day of the series, "31 Day to Fix my Finances" following the personal finance management concept written by Trent of the The Simple Dollar.
The initial step of fixing finance is defining the main values. We all live according to a set of values. We based our decision and day to day action with these main values blended with the values of others. How would I define my value then? I simply put it as the ones that matters to me most. The reasons for living-breathing that will satisfy me and will give me a happy and meaningful life.
Why would I define my main values in the first place? What is the connection of values and fixing finances or building wealth?
Five Ingredients to Build Wealth
Anyone can get rich. You don't have to be a genius, and you don't have to be lucky. People who build wealth make certain decisions and practice certain skills - none of which are difficult or 4) complicated. You can do it, too. You can acquire a multimillion-dollar net worth by doing just five things:
1) Get to work an hour early.
2) Develop and perfect a financially valuable skill.
3) Use that skill to earn an above-average income.
4) Spend less than you earn.
5) Invest your savings smartly.
By practicing these five simple behaviors you can build real wealth. Let's take a look at each one.
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