Control Your Goals

Each step along the way is important, so don't be afraid of literally making a list that includes things like "pay an extra $50 a month on my Visa" or "sign up at work for an extra $50 for the 401(k) plan." Every little step helps you reach that longer-term goal of financial freedom.

In fact, no matter how you define your goal in terms of numbers, for most people the goal is simply to not have to worry about having "enough" money. How you define "enough" is up to you. And so is how you get there.

It's important, of course, to make sure you have "enough" for retirement.

If your excuse is that you can't afford right now to contribute to a retirement plan, take a quick look at your paycheck stub. Every week there's a deduction for Social Security. If you're under 50, there's a very small chance that it will provide anything meaningful for your retirement. Yet you don't complain when that money is whisked away, leaving you less to spend.

A great goal is to set aside an amount equal to that Social Security deduction for your personal retirement plan.

Not having enough money to get started is no excuse. Two mutual fund companies, AARP Funds and U.S. Global Investors Funds, let you open IRAs with as little as $100, if you commit to an ongoing and automatic monthly deduction from your checking account.