Showing posts with label financial goals. Show all posts
Showing posts with label financial goals. Show all posts

Tuesday, January 7, 2014

Financial Goals: Staying Focused And Motivated

As we enter 2014, many of us have set resolutions for ourselves. A new year creates an opportunity for a fresh start, especially when it comes to our finances. Defining goals and putting a plan in place is essential to personal financial success. But that’s only part of the battle. Maintaining attitudes and behaviors to get you to those goals takes effort. But it doesn't have to be grueling. There are techniques you can adopt to make the journey quicker and easier!

Envision success
Visualizing yourself enjoying the achievement of your goal can help you remember why you’re doing it in the first place. For example, if your goal is to replace you current vehicle with a new one, imagine yourself enjoying a stress-free cruise down the road with breaking down being the last thing on your mind!

Give yourself rewards along the way

If your goal involves saving $5,000, build into your plan little “presents” for yourself as you reach certain plateaus. Like for every $1,000 saved you get to put $20 toward a fun shopping item.

Make it a partnership
Is a loved one also trying to reach a specific goal? Make a pact to regularly check in with each other to monitor progress and offer encouragement. If you there isn't’ someone close to you suited for this job, look for a financial support community online.  If your goal involves other family members, do your best to not only include them in tracking progress, but get them excited about the process.

Build in reminders
Maybe it’s a Post-it note inside a cabinet you open regularly. Or perhaps it’s an electronic reminder sent via a computer scheduling application. Either way, it never hurts to get a reassuring hint that your goals are there for a reason. If you’re a highly visual person, consider putting a picture of your goal where you will see it a lot, like at your desk or in your car.

Treat setbacks as learning experiences

It’s unlikely that you will ever encounter entirely smooth sailing on your way to a financial goal. Because of this, it’s important to have the right attitude about the obstacles that spring up. If you get too discouraged, the whole plan could be lost. By treating unexpected jolts as opportunities for sharpening your skills, you put yourself in a better mind frame for ultimately reaching your destination.

Financial goals take work, but it doesn't have to feel like work. By developing techniques to stay dialed in on the process of achieving your goals, you may even find the experience enjoyable! Whether your goal is short-term or long-term, Pen Air FCU is here to help you achieve financial fitness! Visit www.penair.org to access to a variety of financial tool-kits, calculators and checklists to assist you in reaching your goals while staying motivated to achieve them!



Monday, October 21, 2013

Dream It. Achieve It.

How to Set and Attain Financial Goals

Determining Goals


If you had to choose between sitting down at the kitchen table and setting goals or sitting on the beach in the Caribbean, you would probably choose the beach. But how would you pay for the airfare? Hotel? Food? What about souvenirs?

Setting financial goals may not be very exciting and fun, but it can help you save for and achieve exciting and fun things. There’s also those things that may not be quite so exhilarating but are still very important, such as having enough money for retirement or your child’s college education.

You could just wait and see what is left over at the end of the month after you pay your bills, but since it's easy to get in the habit of spending what you make, you may wind up having no savings at all if you take this approach.

By taking the time to think about what your goals are, how much they cost, your time frame, and your regular obligations, you’ll know exactly how much you will need to save each month. This will help determine what changes you need to make to your current budget, so that you can reach your goals AND pay your bills with ease!

Do you want to buy a new computer in a year? Have a down payment for a house in four years? Be debt-free in five years? You can easily list your goals and time frame on the BALANCE Financial Goals Chart by clicking here.

Whether you’re in the market for a new home or car, or simply saving for the upcoming holidays, Pen Air FCU is here to help you save, with long and short-term investments designed to meet your specific needs, visit http://bit.ly/StashYourCash



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