Description

Setting Financial Goals is the first rule in the Mills Way to Financial Freedom rules that we covered with the boys. The importance of goals is to help us make our dreams happen. You need to write them down to be able to make them happen. Difference between a Dream, Idea, Vision and a Goal is nothing more than writing it down.

After we write our goals down on paper, we don’t hide it and forget it. We post it, shout about them and we review them monthly. “We” is a must if you are married, it is hard to hit Financial Freedom goals if both of you don’t agree on them and the action plan to attain them.

When setting the goals to your monthly review meetings schedule it with your spouse or partner if you aren’t single. If you are single maybe ask your best friend to come to your monthly goal review meetings. Having it schedule a month in advance helps make sure the meetings happen.

Some people hear the word “Meetings” and they run. Some people feel meetings are a waste of time at their jobs when they could be getting their work done and getting out of work earlier. Financial Freedom Goal meetings aren’t a waste of time. They are important tool in your achieving your Financial Freedom that you want.

Why not make the goal review meeting fun? Maybe get some snacky food or order pizza to be delivered. Make it a party and have fun celebrating what progress you made towards your goals. When you are having fun, you are able to think outside the box easier to be able to come up with ideas on how to achieve more the next month.

These goal meetings we will be covering our budgets and actuals from the last month. We like to schedule our goal review meeting on the 2ndof each month so we have last months numbers to review. We will talk about budgets and tracking numbers in other posts.

We have personal goals and financial goals that were based off what our family priorities are. So, you would need to decide what your own priorities are. Goals and Priorities, you both need to agree on them if you aren’t in a committed relationship. Here are some example steps to do for your goal setting;

1. List your Top 5 Priorities.
2. Set Long Term      goals for each Priority. Make them attainable.
3. Set Short Term      goals for each priority. Make them attainable.
4. Set Action Steps      for each long-term goal and short-term goals.
5. List 3 habits you      want to do in the mornings and 3 habits you want to do at night to obtain      your goals.
6. List any things      that you are doing that is distracting you from your goals and make      adjustments. For instance, let’s say you are watching TV every night from      6pm to 10pm. Why not adjust it and watch from 6pm to 8pm if you wanted to      and spend the other two hours working on your goals. That is just an      example. I am not a fan of watching much TV.
7. Set daily goals      and Weekly goals and then list the progress down you did each day. Each      night you could reflect on it before going to bed and making the plan for      tomorrow.

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