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Money problems are the most common problem in the home today. Regardless of what career you have and how much money you make there just isn't enough money to go around. What's the problem?
Chaplain with Chaplains in Service are providing the answers. If you need Credit Counseling and want to become debt free call our home office at (701)298-7864 for a referral to a certified credit counselor.
Financial Goal Setting
Financial goals sometimes get lost in the traffic of keeping up with the Jones’, satisfying our wants, and the “buy now, pay later” attitude. If we don’t have a goal in mind, it becomes easier every day to stray from the budget we may or may not have in place. It doesn’t matter if you are working a minimum wage job part-time just to find a way to make your rent payment each month, or if you are the CEO of a large corporation making as much as a top-notch professional athlete. Everyone should have financial goals in order to stay on track with where you want to be with your finances.
The first thing to ask yourself when setting financial goals is “What do I want?” Maybe you really want to have a good retirement fund built up so you can retire early. It could be that you want that dream car that you’ve had on your mind since your 12th birthday. For many of you, it might be that you just don’t want to live paycheck to paycheck ever again. Figure out what exactly you want, both short term and long term. You will never achieve your goal if you never set one.
Next, ask yourself “What will it take to achieve my goal?” This is where you will need to evaluate, or maybe re-evaluate your current situation to see what needs to change in order to achieve your goal. Now is when your budget comes into play. Are there expenses on there that, when you really think about it, are less important to you than the goal you are trying to achieve? For example, what’s more important, having wireless internet at home or having an extra $500 in your pocket each year that you can save for that family vacation you’ve always wanted to go on? Small sacrifices in your daily life can become broken habits that you will learn to live without.
What are you willing to do to have the lifestyle you want, without the stress of money hanging over your head every day? Can you take on a second, third, or fourth job for a year in order to pay off your debt so you never have to make another credit card, auto loan, student loan, or maybe even mortgage payment for the rest of your life? Imagine how big your paychecks would look if you never had to pay on your debt again. Imagine what a relief it would be to have a written plan in place, so that you tell your money where to go each month, instead of your money telling itself where to go. Imagine setting a goal to save a specific amount each month, and then walking into a car dealership and paying for your dream car with cash. Imagine walking into your payroll office one day to increase your contribution to your 401K because taking control of your finances and building your own budget has allowed you to comfortably plan for retirement.
Set specific goals, get motivated, and do what it takes to achieve them. By doing so, you can be prepared for bumps in the road. Stay ahead of the game by taking control of your finances now. It will be tough and it will take sacrifice, but having a goal or two in mind will ease the difficulty of those sacrifices and in the end you will be rewarded. What’s the best way to start? You can start by tithing each month – there’s mini goal number one. “Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” II Corinthians 9:7.
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