We believe that the reason some of us don't reach our goals is that there is a lack of understanding between a dream and a goal.
You may have a dream to retire comfortably but have no plan of what steps you have to take in the short-term to make that dream a reality.
To help with this, we recommend using SMART goals which are:
SPECIFIC - what do you want to achieve?
MEASUREABLE - how will you know when you have achieved this goal?
ACTIONABLE - what steps will you take to achieve it?
REALISTIC - is it possible to achieve the goal in the alloted time if you take the steps you have outlined?
TIME BOUND - by when do yo want to achieve this goal?
Using this to write your goals will give you much more chance of reaching them, whether they are personal goals like weight-loss, or financial goals.
An example of a financial goal is that you may want to achieve is to "pay off debt". The goal should be a lot more specific and SMART, for example "I will pay off the Mastercard by 30th September by paying off an extra $200 per month onto the card".
Follow these steps to get started:
1. Take the time to think about what your longer-term dreams are and write them down
2. Determine what short-term goals you need to achieve to make this a reality
3. Make each goal a SMART goal
4. Track your progress monthly and adjust as necessary
5. Talk to us if you need any guidance or accountability
The Next Step Financial Group Pty Ltd, ABN 50 163 965 946 is an Authorised Representative of Count Financial Limited. ‘Count’ and Count Wealth Accountants are trading names of Count Financial Limited ABN 19 001 974 625 Australian Financial Services Licence Holder Number 227232 a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. Count is a professional Partner of the Financial Planning Association of Australia Limited. Count advisers are authorised representatives of Count.
General Advice Warning
This document contains general advice. It does not take account of your objectives, financial situation or needs. You should consider talking to a Financial Adviser before making a financial decision.