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Take Control of Your Finances: 4 Steps to Achieve Your Goals

Take Control of Your Finances: 4 Steps to Achieve Your Goals

April 01, 2024

Feeling overwhelmed by your finances? You're not alone. But achieving financial stability and fulfilling your financial goals is possible. Here are four simple steps you may take right now to make a significant difference:

  1. Define Your Why. Identify your motivation for saving money. What is your financial goal? Is it a dream vacation, a down payment on a house, or starting a business? Be specific and write it down. Defining your why may motivate you to stick to your savings plan.
  2. Quantify Your Goal. Put a number on your dream. Research the estimated cost of your goal and write it down so you may determine how much you need to save and for how long. Remember, even small amounts saved consistently may make a significant impact over time.
  3. Pay Yourself First. Develop a saving habit. Decide on a percentage of your income that you can realistically commit to saving and set up automatic transfers to your savings account as soon as you get paid to ensure you prioritize saving.
  4. Track Your Progress. Hold yourself accountable by scheduling regular check-ins. Quarterly or bi-annually check-ins give you an opportunity to track how much you've saved and calculate the remaining distance from your goal. This will not only motivate you to keep going, but also allow you to adjust your plan if necessary.

Remember, achieving financial goals is a journey marked by dedication and consistent effort. By following these simple steps and building good financial habits, you may take control of your finances and achieve your goals.

Wendolyn Forbes is a CERTIFIED FINANCIAL PLANNER™ with Wealth Transition Finance, A Member of Advisory Services Network, LLC. Wendolyn is a fee-only financial planner and member of the National Association of Personal Financial Advisors (NAPFA).

CFP Board owns the marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the U.S.

This material is provided as a courtesy and for educational purposes only. Advisory Services Network, LLC does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Federal and state laws are complex and constantly changing. Consult your own legal or tax professional for information concerning your individual situation.


Originally published in the April 2024 issue of Positively Haywood.