By Daniel Rodriguez | Dr. Budgets
Last post I wrote about How to Set Strong Financial Goals, and today I will explain the reason why this is important. After all, the WHY behind financial goals is a big part of the HOW. If you haven’t yet set strong financial goals, I hope this gets you motivated!
Having strong financial goals is the most important thing you can do to set yourself up to accomplish your goals. Here are some reasons why having a strong financial goal is essential to your success:
Keeps you on track. With every spending decision you make, you are either moving closer to or further from your goal. If you have a strong goal, it becomes easier to say “no” to the purchases that move you away from your financial goal, and “yes” to the decisions that move you closer.
Focuses your attention on what you really want. Having a goal changes your mindset from “I wish I had …(a new house, a vacation fund, no credit card debt, etc.)” to “I’m working toward…” It would be nice to have lots of things! But when you get serious about accomplishing a goal, your attention isn’t pulled in multiple directions – you’re focused on what matters.
Allows you to live life to the fullest. When you’re not spending your time and money on things that don’t matter, you spend more time enjoying life.
Holds you accountable. When you have a strong financial goal, you have built-in benchmarks that help you hold yourself accountable. However, even with strong goals people may struggle with personal accountability. If this describes you, then you may benefit from having a money coach! Contact Dr. Budgets today to set up your complimentary consultation.
I hope this post has you thinking about identifying strong financial goals for yourself. Check out my previous blog on how to set strong goals and contact Dr. Budgets if you are ready to get serious about accomplishing your goals!