How A Simple Budget Visual Tool Can Assist You Set Your Financial Goals!

Here is a Simple Visual Tool Can Assist You Set Your Financial Goals, be it short term or Long term goals!!!1. Think about what’s important to you
Prior to writing anything down, Love says to first think about what is important to you. Do you want to buy a new car or house? Do you want to pay off all of your credit card debt? Maybe you simply want to take a vacation next year.Whatever it is, think about the aspirations you have, no matter how big or small, which will require financial planning in order to accomplish.Any time you experience a major life change, your financial goals should be re-evaluated.
Check – FOUNDER OF THE BUDGET MOM

2. Create step-by-step strategies
Next, get your goals down on paper. You can tackle your short-term or long-term goals in any order, but make sure you’re detailed when writing down what you want and how you’ll make it happen. “A goal isn’t a reality until you can write down action steps on how you are going to achieve it. Until then, they are just intentions,” Love said. “For each goal, I want you to write down specific actions steps.”If she were tackling the short-term goal of paying off debt, Love would write something along the lines of: “Pay off debt by tackling my student loans first. I will put $500 monthly towards my student loans for the next 24 months.”As you’re working, ask yourself these three questions:Are my goals specific?
Are they measurable?
Are they achievable?

3. Reflect on what you’ve written
Once you’ve filled out all three parts of the worksheet, reflect on what you’ve written. Taking a moment to read them over once more allows you more time to make sure you’re satisfied with your goals and to let them sink in. And to motivate yourself to follow through, hang it somewhere around the house where you can see and revisit your goals as regularly as possible.Remember, this worksheet isn’t meant to be set aside once you’ve completed it. You should revisit this sheet periodically, Love said. “Any time you experience a major life change, your financial goals should be reevaluated.”The new year is the perfect time to start making solid financial solutions that can lead to lasting change in your life.
Kumiko Love
FOUNDER OF THE BUDGET MOM

If you want to reach your financial goals in 2020, why not start now? The new year isn’t only time when you can (or should) set fresh money goals, but this time of year is a prime opportunity to be intentional about your spending habits.“Being financially healthy is a huge part of living your best life,” Love said. “The new year is the perfect time to start making solid financial solutions that can lead to lasting change in your life.”Don’t miss: This single mom paid off $77,281 of debt in eight months — here are the 5 steps she followedLike this story? Subscribe to CNBC Make It on YouTube!