Whether you have a lot of money or just a little, a true measure of your financial success is the ability to meet your goals. Imagine your financial goal as a destination you could travel to by car. To reach it, you will need to make efficient use of your money as you prepare for the journey, and you will need to set aside certain resources for use along the way. You will get a tune-up, check the tires, pack some food, etc., and you will also figure out how much money is needed for gas and tolls during the trip, all before you leave the driveway. Achieving your financial goals should work much the same way, because attaining them depends on thoughtful preparation. Properly developed goals can be incredibly motivating, and, as you get into the habit of setting and achieving them, you'll probably find that your self-confidence has increased as well. By constructing a strong goal development routine, you can measure and take pride in the achievement of the goals you’ve set, in turn helping to ensure future financial successes.
Getting fiscally fit is a process. As with any process, understanding its ‘moving parts’ helps you develop a well-rounded approach to meeting your objective. When it comes to Getting Fiscally Fit, you have to understand what you are up against. There are a lot of challenges we have to contend with, especially since the downturn in the economy; however, having an understanding of what stands in your way allows you to develop strategies to overcome those challenges. Once you have an idea what you’re up against you can start to gain control of your financial situation. As you can imagine, not having a command over your money makes it difficult to plan for your future. Fueling your plan is revenue, or cash, so one of the processes is increasing cash flow. From there, it’s important to build an emergency fund. Things happen. Your car breaks down; your tax bill comes in higher than you thought; you may face a medical emergency. You’ll need cash on hand to deal with circumstances like that. You also have to plan for tomorrow. What are your financial goals? Where do you want to go? What do you want to achieve? These are important questions that will direct you toward financial success.
Getting control of your finances is hard work, but it gets easier when you have the right mindset. Our best traits become habits, and when we get in the habit of making sound financial decisions our financial future becomes stronger. It’s up to you to make the determination “I’m going to get control of my money and use it in the best ways to meet my goals.” Once you adopt this philosophy you take an active role in building your financial future. Honestly, there’s very little that can stand in your way. The important part to understand is that nothing will change until you do. Contributions to this press release were provided by the Society for Financial Awareness.