SMART Financial Resolution
How are you today? I hope you all fine. The time pass quickly, and now we've entered the year 2010. Have you prepare your financial planning in 2010 ? like a resolution or maintain financial life in 2010. Talking about global financial it will never end. But how about your financial condition right now. Something was started from small part. And it begin from ourselves or family. Maybe you should try honestly to answer the following questions:
- Do you monitor your monthly spend?
- Do you pay full your credit card or you pay for the minimum bill?
- Did you already set aside some funds for retirement?
If your answer is "no" for those question, now is the right time to manage your personal financial. When we look something not seriously, all things will seem easy. Like we can do that later. "later" is bad word, even in finances. But in practice we encounter difficulties. Why it can be happen? because we don't usually do and we never try or we are not promised to ourselves.
I got a great tips from the biggest bank in the world. The first in managing managing finances better is to evaluate your current financial position, namely the re-asset records (whatever you have) and how much debt you have. Good way to manage finances is used to create a budget where you can monitor the income and expenditure.
From now let's promise to manage our personal financial set goals and how to achieve our financial goals. Actually there are four tips we can use to maintain the financial. The goal and planning have to SMART (Specific, Measurable, Attainable, Realistic, Tangible)
- Specific. We have to set the goal and target of our financial. Like, Start from next year I'll be more diligent in saving. We have to determine how much saving do we want. Determine what time do we start and how long do we get the value. And the result is we can more discipline to set aside some funds to be saved every month.
- Measurable. Defining measurable objectives can help us to monitor whether we are on the right track or not to achieve goals. If your goal is to collect funds for the down payment for a new house next year, then determine how much money from your income should be set aside per month.
- Attainable. Make goals which you can achieve and try to think long term, but still find the small goals that can help you achieve greater results. Like we want to have $1200 in this year. Then the small goals you need to achieve each month is to save a minimum $100 in the next 12 months. We can use the small amount, if you think that $1200 is a big money. It doesn't reduce the value and the soul of the achievement.
- Realistic. Creating financial goals must be realistic or we could face a very big failure. must be accordance with our abilities. Don't follow the desires or we will loosing all we have now.
- Tangible. The real goal is the achievement of something that really exists, and can be measured. We will be motivated to set best goal for us.
Don't worry my friend, you are not alone. we can involve our family members in setting financial goals. Because they will support the achievement of these goals. And we can learn together with our family member. Sometimes fresh ideas coming from our partners, if you had married and your position as a husband or wife. Write down these goals and review from time to time. I hope we can find the best achievement for our financial.
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Money is not everything. But, without the money of our lives would be more difficult to live. As parents, we certainly want our children have financially independent and skilled in managing money. As a teacher I always give suggestion to my student. One of my suggestion is how to use money wisely.