The Six Key Areas of Strategic Goal Setting

This series is designed to help guide you through the goal setting process. There are six key areas of which to focus on when creating your annual or quarterly goals. This series will visit each area and help you narrow your goals and help provide the focus and directions necissary for strategic success. This week we will be focusing on the first of six categories, financal and money goals.

Financial and Money Goals

Finances can be stressful. When money flow is tight, so too are many other aspects of our life. What would help you lessen that burden? Is there anything you can change regarding your spending? Give yourself a goal. What would you like to see in the next few month or year financially?

Be realistic with your financial goals. Many moves you may make over the next year will hinge on your financial health. Take a minute and jot down 2 financial goals for the next year. Make sure to put your goals in refrence including a date of completion and how you will stay motivated to achieve it.

Here are some Brainstorming ideas:

• Develop a budget
• Set specific retirement goals
• Raise credit score 20 points,
• give portion of each paycheck to charity
• create a pay it forward fund,
• know my net worth.

Financial Break Down!

If you are just starting out, it is very important to know where your current finances stand in order to appropriately set these goals. There are 3 types of goals, specifically in relation to finances: Short-term, Intermediate, and Long-term or Stretch goals. Your financial goals can often be broken down into these smaller goals to help keep you on track. You can’t aim for long-term investments if you do not have a strong foundation. Here are some examples of Short-ter, intermediate, and long-term goals.

Short Term Goals – budgeting, spending habits, debts

Intermediate Goals -Emergency fund,  Credit score, Insurance policies

Long Term Goals – Retirement saving, Investments, Property purchases

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Looking for more information from this series? Check out the other 5 key areas for Strategic Goal Setting!

#2 – Professional and Career Goals
#3 – Health and Fitness Goals
#4 – Spiritual and Faith Goals
#5 – Personal and Adventure Goals
#6 – Family and Relationship Goals