Financial Goal Setting 101

You may think it's silly or even pointless to think about where you'll be in a couple years financially when you don't even know how your going to make it to your next paycheck. I was the same way.

I now think differently. 

FINANCIAL GOAL SETTING 101:

STEP 1: CHOSE A REALISTIC GOAL

- When I first  started with "financial goal setting" it was overwhelming.  I would set goals that I  could never follow through on like "I will buy a house in 2 years" or "I will double my income by the end of the year"  ...in the end, it was a big FAIL.
- Set REALISTIC goals- my first goal I actually followed through on was: "I will not buy lunch today at work".  It was small, but it felt good that I was successful :)

STEP 2: WRITE YOUR GOAL DOWN

- Writing down my goals made a huge difference. I went to Wal-Mart and bought a cheap notebook, every financial goal I made I wrote in that book. I would also write my goals on little post-it notes to remind me to stay on track!
-You can also keep track of them online or by using a word processor.
-It allows you to go back and see which goals worked and which didn't.

STEP 3: TRACK YOUR PROGRESS
- If I saved $1 that day I wrote it down, spent $10 - wrote it down. At first it was a pain in the butt and time consuming, but it did become easier!
- It made me become ACCOUNTABLE my money- which was a foreign concept to me until I started my goals.
-Before I had no idea where my paycheck- and it's pretty scary now that I think about it.

STEP 4: REVISE OR ADD ON TO YOUR OLD GOALS
-Always revise your goals or add on to them to adjust to your financial current situation.
- For example, my budget for gas used to be $30/week. Now with the rising gas prices I have had to change it to $40/week.

STEP 5: REWARD YOURSELF
- I love this one. Give yourself a reward each time you reach one of your goals!

-When I reached my goal of putting $1000 into my tax-free savings account, I went out for dinner to my favourite restaurant :)

Feel free to share your own financial goals!

Where do I start?

"Where do I start? " is the question I asked myself as I looked at my Visa bill sitting on the table. As the months would go on, the balance just kept increasing and so did my anxiety! I had no idea where I was going to get the money to pay all my bills, let alone just my Visa. For months I kept avoiding my debt. I thought if I didn't acknowledge it that maybe one day it would just disappear all together.  To my surprise, this never happened.

Finally I reached my breaking point- my savings were completely wiped out, my credit card maxed and I felt completely depressed.  It was rock bottom for me.  It's true when they say- "When you hit rock bottom there's nowhere to go but up" .

That was the day I took control of my finances and my life again. I made a promise to myself- that I would never let it get this bad again.

I am happy to say as of today I am currently debt-free :) 

I'm not saying it's easy- but it IS possible.

That's why I made this blog, to help others reach a point where they don't feel anxious or worried anymore because of money!