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Goal Setting: The First Step in Money Management

Guest post by: sam levitz

Article Overview: Are you tired of working several hours each day only to discover that your hard-earned money has been spent even if you have not received it yet? You should not feel ashamed about this because there are also several people who commit this mistake.

Goal Setting: The First Step in Money Management

Are you tired of working several hours each day only to discover that your hard-earned money has been spent even if you have not received it yet? You should not feel ashamed about this because there are also several people who commit this mistake. In order to get through this common problem, you need to know the right way to do money management. By doing so, you will be able to see where your money goes each time you get your paycheck. At the same time, your savings account will get to earn money! But how can you do this?

The first thing you need to do is to set goals. In order to achieve something, you need to set goals. Whether it is career, relationship, fitness or financial matters, you will need to establish goals. This is so you can have a driving force that will keep reminding you why you are doing certain things. With regards to your money, you will have an opportunity to decide what you can do with your hard-earned money after you have saved it. You can then achieve your life goals without borrowing money from other people.

By setting specific goals, you will be able to kickstart your task of money management. With any marketing strategy, people are always told to have specific goals rather than vague ones. This is because it will give them an idea of how much money to save. So whether you are aiming to buy a new iPad, computer or even a car, you will have an idea of how much money you need to save up for.

In terms of goal setting, you will need to know the three basic types of goals:

• Short-Term- goals that are achievable under a year's time

• Mid-Term- these are goals that you can achieve within 2-5 years

• Long-Term- goals that are achievable from 5 years up

If you have more than one goal, it is important that you determine where these qualify in the above types. You can then start moving on with your money management task so you can achieve your goals. As always, these goals will be your motivation. If you do things right, you will surely get to achieve them!

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Article Tags: goal setting, money management, money management task, set goals
Referred by: http://jaykubassek.com



Related Forum Posts
Re: Your choice between... - I will take the $100,000 and double it on it becomes millions before I spend it. Though I am crazy about information, yet I would rather take the money and turn it into a million before I spend a dime out of it. I will do it in 4 steps. Step 1 turn $100,000 to $200,000 Step 2 turn $200,000 to $400,000 Step 3 turn $400,000 to $800,000 Step 4 turn $800,000 to $1600,000. After getting the goal of step 4, I will spend the $600,000 on myself then continue to double the millions again. I could then by the book for $1,000,000
Step by step approach - Here's what I would do; Step 1 - Observe Wal-Mart’s target customers, what does Wal-Mart offer them? How long do they stay? Discover what it is that they might want or need that Wal-Mart doesn't offer, and then write those ideas down. Some ideas to get you started are - A cafe or fast food venue, something for the kids to do while the parents shop, etc Step 2 - Take that list, and weigh up the pros and cons of each idea, and then select the best one for you. Don't worry about not using all the space. Step 3 - Start the best business for you, and then release the other ideas to the general market and sublet the rest of the space to those who could fill some of the niches you've come up with, plus any they can come up with. If money isn't a factor then developing the building to suit multiple small leases may be a better option, as it's a diversified income, which is potentially more stable than one big income stream.
No B.S. Time Management - A great book I read on Time Management is No B.S. Time Management for Entrepreneurs by Dan Kennedy.
Re: What are your January Goals? - Here's a quick update on mine: Goal #1: Hire New Writer = done - Post job description on oDesk - Set up trial job - Pick top candidate Goal #2: Follow up with Clients = done - Create and send quarterly report - Touch base with last year's clients - Follow up with 4 connectors Goal #3: PERSONAL = about 70% done on the month - Do something nice for my wife each week - Exercise 4 times per week - Daily stretch - want to touch my toes
Need a book recommendation for writing better - I'm always looking for ways to improve my writing skills, so I was just wondering if anyone could recommend a good copywriting or copyediting book? I was actually thinking of reading "The Copywriter's Handbook : A Step-by-Step Guide to Writing Copy That Sells" by Robert W Bly [u:w3cg00nn]OR[/u:w3cg00nn] "The Copyeditor's Handbook: A Guide for Book Publishing and Corporate Communications" by Amy Einsohn. Would anyone know if these books are any good? Thanks


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