January 9th, 2012 11:07 AM by Gregg Mower
Wow it's a new year you say What is going to be different this year from other years? I hope I will make more money, I . hope I will be healthy, I hope I will lose weight. All things we put on our list for New Years Resolutions, but the big problem with this is the "Hope" part. We need to actually take action in life to make a difference in our own destiny. We can't assume someone or something is going to happen different to my current situation we have to do it ourselves. This change in actions is what makes people successful in their goals and their lives. Making the change is one thing but sticking to it is another. We not only have to identify those things in our lives we wish to change but we need to change our habits with regards to the outcome we wish. So Lets start at looking at your finances as that is where I am an expert, if you wish to lose weight go to an expert there but the change in habits will be the same.
Step 1: Identify that part or parts of your financial situation you wish to change and write it down.
Step 2: The next step is going to be to set a goal and realistic time frames to get you to that goal.
For example; if you wish to purchase a home this year write down the goal and lets say you want to be in your new home by June of this year write that down as well.
Step 3: Next you are going to need to plan how you will get to your goal in detail. Example; you want to be in a home by June, you are going to have to call a lender to find out how much home you can afford and how much money you need to have saved to get into the home. You will need to plan how to save for the down payment by June. You will also need to gather the necessary documents to get approved for a loan.
Step 4: Now the work begins. You have to do the necessary tasks to get you to your goal in the time you have established to get there in.
Step 5: Stay the course. Don't give up on your plan no matter how tough it is you will enjoy the benefits of your goal if you follow through. As for the home example this would be to put your budget together to start or continue to save, or talk to a person who can gift you the down payment.
Step 6: Reaching your goal. Yes this should not be a surprise, you have taken all the steps in planning and actions so why wouldn't you get to your goal? So it is time to make sure that everything is in order and complete the goal. Back to the house example this would be the point where you have the money needed to purchase a home and now with the blessing of your lender you go looking for houses in your price range, make an offer, let the lender appraise the house close on it and move in.
These steps will probably work with most resolutions or goals. As with anything if you stick to it generally it will work out for you. I wish you well in the New Year.