What do you want to be when you grow up? What type of person do you want to marry? What is your ideal vacation? How would you like to spend the holidays?
We do it in so many areas of our lives, dream, plan, create goals…granted sometimes these goals are not realistic but as we grow and get older we don’t really stop dreaming, we just dream more realistically. Now I am not here today to try to get you to dream the impossible, but to apply your now grown up dreaming capabilities to your money.
If I were to ask you what peace meant to you, you might have an answer for me that would involve Scripture, trusting God, etc. But if I asked you what financial peace meant to you would you know how to answer?
Create a financial goal. A goal structured around what would bring you peace financially. The first step to this might be to go over your prayer list from yesterdays post. It might be to simply write down what things would need to change so that managing your money doesn’t stress you out, or perhaps you have already achieved this and you are simply verbalizing what needs to continue to maintain that peace.
Here is an article that has 10 tips on writing financial goals.
My own goal looks something like this:
To manage my money in a way that I can pay my bills without worry, to have money saved up in case of an emergency, and to manage my spending in a way that I can still make some fun purchases and save up for big wants.
Now that I have that goal verbalized I can look at what short term goals I need to make to reach that goal. Depending on your long term goals, whether it be getting out of debt, paying off your house, or something similar to mine you may need to write several more layers of goals. Here are my next layers:
To build an emergency fund
To have money left over at the end of the month for savings
To stick to my budget and stop overspending in certain areas
So now that I have verbalized that I have a clearer path of where I am going next and what I need to work on. Keep verbalizing your goals until you get to a manageable layer.
My goals aren’t very specific but here is another example of what someone’s goals could be:
Long term financial peace goal:
To have money invested, no debt, and money in the bank.
Short term goals to reach that goal:
To pay off mortgage
To pay off other debts (credit cards, car payment, etc.)
To pay more than the minimum payments on my debts
To eat out one time less a week and apply that money towards debts
What are some of your goals? Please share in the comments section!