As we stand on the cusp of a brand new year, it’s an exciting time to lay out the goals we want to achieve in 2022 and make plans for how we are going to do so.
Setting financial goals is an important aspect of ensuring a stable financial future as well as putting us on track to achieving our important life goals. However, there are also some added benefits you may not have considered.
Building your Confidence
When you are struggling with money or grappling with a limited money mindset financial confidence is hard to come by.
However, when you commit to achieving your financial goals you are signalling to yourself that it’s time to get real. Really focused, really serious, really motivated and really excited about doing the thing you are committing to.
A goal without a plan however is simply a dream. Develop a financial plan and you are going somewhere and making things happen.
When you have a financial plan you can feel confident that your money is doing what you want to do, working for you and building towards your big goal.
Committing to a financial plan is a promise to yourself, you have undertaken to be master of creating your own destiny.
Your integrity is on the line. While you can lie to others, hopefully you don’t though, you cannot lie to yourself!
A plan supports you in guiding your actions towards your vision. It serves as a measure of achievement as well as an indicator of where you may have to adapt your strategy along the journey.
Furthermore, it’s a guidepost for decision-making keeping you accountable for making smart money choices.
Building a new financial legacy
Setting financial goals and having a plan to attain them enables us to build a better financial legacy for the next generation both in monetary terms and from an inherited financial education perspective.
We developed our financial beliefs and learnt about money as far as we could from our parents, caregivers and the adults in our lives. Often this was tainted with secrecy, silence and the limited financial education the generations before us were able to obtain.
Building our own financial education, having a healthy approach to money and passing this legacy onto others both within and outside our families can positively change the financial outcomes of generations to come.
And as we are about to take that big leap to the brand new year, may the decisions you make for your financial goals in the new year bring you and your family financial freedom and serenity for the new year and all your years to come!