Goals: Dreams with a Deadline
If you are like most Americans, at least a few of your New Year’s resolutions have to do with money. TFCU wants to help you go from wishing in January to having in December. These five steps can help turn your financial resolutions into realities.
- Identify your goals. A goal should be tangible, so you can track progress. There are three basic goal types: short-term (under a year), mid-term (one to three years), and long-term (three-plus years).
- Look at the numbers. First, examine your income and expenses; then, determine the amount you can save monthly.
- Assign a time frame. Mark your calendar with the projected achievement date. If the goal is mid-or long-term, allocate progress points.
- Design a savings strategy. Have the allocated savings sum automatically deducted from your paycheck or checking account and deposited into a separate savings account. It’s easy, and you’ll never miss what you don’t see.
- Be flexible. If you get off track, don’t give up, modify! There are few greater gifts you can give yourself than pursuing — and achieving — your financial goals, which is one of the many reasons TFCU has partnered with Balance Financial Fitness. Their team of money management experts can help you clarify your objectives, and then develop a plan to achieve them. Call them toll free at 1-888-456-2227, or visit www.balancepro.net for more information.