Reaching your financial goals

Published on July 14th, 2015

Financial goals, large and small, are difficult to reach. Your goal could be anything from getting out of some level of debt to saving up for retirement, or saving up for some big purchase. Often times, reaching your goal can seem like climbing a mountain. The summit seems impossibly high. You might even want to give up halfway through the climb. Even getting started seems impossible.


Think of reaching your financial goals in this way: climbing a mountain. When you get ready to climb a mountain, you don’t just start climbing right away. The first step is choosing the mountain you want to climb. Pick the financial goal that you want to reach, and stick to that goal.


The next step is doing your research. It would be foolish to try to ascend to a peak without doing the proper research. You need to know what kind of equipment you will need, how much food and water to bring, and how long it will take. Similarly, you need to know the tools and supplies you’ll need to reach your financial goal. Into what kinds of accounts should you be putting your money? How much money should you be putting in at a time? How long will it take to reach your goal? All of these are questions that should be addressed before you deposit a dime.


When climbing mountains, climbers will often have guides. For example, sherpas help those who ascend Everest for the beginning portion of the trip. Think of consultants and financial professionals as your sherpas. Even bloggers online can play this role. Reaching your financial goals alone can be daunting. Get some help–preferably for free!


Once you’ve done the planning you need to do, break up the goal into much smaller goals. Aiming for the summit of the mountain for the whole climb will make the trip seem impossible. It will look too high, and you will feel like you’ll never reach it. Instead, break up the goal into a series of checkpoints. It’s not going to happen over night. Setting small goals that you can achieve one at a time will eventually add up to reaching that big picture goal you set out for at the beginning, and make it feel like you are actually making progress all along the way.

Do your research, make a plan, find some help, and make it easy on yourself by making that big goal a series of smaller goals. Then you’ll be ready to climb that mountain!


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