Thursday, August 21, 2008

Get Goals or Go Broke!

Like many people out there today, goals seem to be the thing of the past. Why is that? Well people are busy doing many things in life but really planning your life should be just as important. So why don't people set short term and long term goals?

LAZY! If you want to succeed in life and in your personal finances, you need to set goals for yourself and make a plan to reach them. I personally have goals set for short term and long term savings.

So why set goals? Because you need to strive towards something in life rather then just flounder and get through life. Maybe you want to save $1,000,000 for retirement or $30,000 for a new car. Whatever you goal is it should be clear and written down on paper.

You need to have plan to get there and how you will achieve this goal.

1) Write down short term and long term goals
2) Calculate how much it will take and how long to reach the goals
3) Write down your plan and put it into motion.
4) MAKE IT AUTOMATIC

What I mean is set up a payment plan to automatically put a certain amount in a Savings account each month or every two weeks.

Personally I use ING Direct for my savings account and it earns 3% a year on my money. I would suggest you do the same or use another high interest savings account. Until next time keep saving and paying off those DEBTS.

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