financial goals

Financial goals are things everyone craves for, and so here is a very interesting exercise for you. Take a sheet of paper and write the word

“Financial Goals” at the top with today’s date. Then, make a list of your top 5 financial goals that you would like to achieve before the year runs to an end. Write your financial goals in the present tense, as though a year has passed and you have already achieved them. Begin each goal with the word “I” to make it personal to you. By making out a list of 5 goals for yourself, it gives you the added incentive to pursue it.

After you are done with the writing, paste the goal in a visible place like your wardrobe or mirror. Somewhere you can be seeing it every day. It becomes a constant reminder. Carefully work towards each of the goals and tick when achieved.

Here’s a sample you can modify and make use of

  1. “I want to be saving a minimum of ……… in my Savings Account monthly”. Saving for a rainy day is very important if you hope to lay a good foundation for the future. There would always come a time when an emergency may pop up that may require some urgent cash. You can equally save for your children’s education or to do a special project.
  2. I want to start making budgets and stick to it. Drawing up daily, weekly and monthly budgets is a good method of achieving your financial goals for 2020. What budget helps us to achieve is that it makes one avoid unnecessary spending.
  3. I want to pay off all my debts before the year runs out. If you are indebted, it weighs you down mentally and each time you remember your debts, the desire to pursue your financial goals diminishes.
  4. I want to develop at least 2 financial skills to improve my income this year. There are several financial skills one can develop to aid one’s income. Popular skills to consider are Negotiation, Critical thinking, Presentation skills, Accounting/management, Organisation/ Time management, problem-solving.
  5. I want to create at least 2 or 3 multiple income streams before the end of this year. This is very vital, as a single income stream cannot enable you to achieve your financial goals. Your second income stream can be connected to something you are passionate about and can convert into a business.

The most important part of implementing your financial goals for the year is to ensure that you stick to it no matter what. This year has started so roughly with the negative impact coronavirus pandemic has had on businesses, but you can still achieve your financial goals if you put in the extra effort.