When trying to repay a debt, saving for retirement or take any other financial goal, personal or professional, you need to make a realization of a viable plan.
The first step to engage with the ultimate goal of achieving an effective plan is to hold a book or newspaper. This newspaper will collect the targets for the short and long term. For example the goals we wish to achieve within 6 months to a year and the goals they would like to see accomplished in 3 to 5 years, and if possible, within 5 to 10 years.
However, it is important to ensure that these objectives are specific measurable, achievable and time. Starting with the short-term goals and mentioning the actions we might take to move towards their achievements, deadlines become easier to fix. Sometimes an action would be a simple phone call or investigate a property one would like to buy.
Recheck plan and allocate tasks goals
- Divide a huge goal in several simple steps gives more possibilities to achieve this, and also that the goal becomes more real. Retirement, for example, requires decades of savings.
- After asking the right questions to answer and how the savings rate possible, the definition of specific objectives is proving difficult.
- Secondly, review the goals on a daily, weekly or at least, ensuring the implementation of a plan whose mastery visibility. When one checks on the various actions listed in the implementation of a plan, please tick those that we have managed to successfully complete and compare their completion dates with the deadlines previously established.
- As you check the actions completed, we move a step closer to achieving the objective. Also, as we examine and take notes frequently, the mind is focused and has other effective responses.
Making a plan modifiable and open to change
- If you have financial difficulties to achieve one or more objectives, we will need further adjustments in the implementation of a plan and remodeling some of its flaws.
- One might be led to change certain habits related expenses, or to slightly modify the objectives, or both.
- When one is trying to adjust the implementation of a plan, it is useful to look for inspiration everywhere: learning from friends, continue to read documents, and not be afraid to test new solutions.
- Once one has put the plan into implementation phase, monitoring should be ensured at every step as you cross. It is good to review your goals a few times a year to tweak them or simply inspire you.
- And as new opportunities arise, we could find a way to use them for the benefit of the successful implementation of a plan.