So you've got a budget and you're chugging along. Now you realize that you don't have a way to make future dreams and goals come true. You need to set financial goals! Here's how (and I've included web sites that have some worksheets that you may find helpful).

Include everyone- Include your beloved and the kids if applicable in making this financial map for your future. The more money is spoken about out loud, the better for your family's health.

Make short and long-term goals- Goals can include things as close as this month all the way out to well into retirement. The further out you plan, perhaps the more loose you may want to keep the plan.

What's the cost?- Now that you have decided what you'd like to accomplish, what is the cost of this most excellent dream? Write it down, and investigate less expensive and more creative methods of financing the dream.


Break it down- How much will you need to actually save to reach the goal? If you initial plan was not realistic because you can't save that much that fast, take it back a notch or trim some of the vision. OR, get a part-time job. You no have the tools to make life decisions because you can weigh what you want and what lifestyle you are willing to live with to get to that goal.

Goals change- Recognize that life is full of surprises. You will mature and your goals may change. That's okay. Help the family realize that when you begin this planning process.


Save!- Start saving and figure out how to track your success.


Citations:
University of TN Extension worksheet
http://www.utextension.utk.edu/publications/pbfiles/pb1454.pdf

Rutgers worksheet:
http://njaes.rutgers.edu/money/pdfs/goalsettingworksheet.pdf


Consumer Counseling Credit of DV
http://www.cccsdv.org/resources/setting-financial-goals


Marion R. Syversen, MBA - President
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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