4. Create mini goals
. Once you have your goals in place, take some time to break them down into smaller, mini goals. Many financial goals are long-term ones. They can often be so big and so far off in the future that when looking only at your desired final result, you'll have no idea where to even begin. By breaking down your goals into smaller ones, it will be much easier to visualize each step that you need to take.
For example, the goal of wanting $1 million in your retirement account could be broken down into something like "I will contribute 10% of my salary every month to my company's 401(k) plan to qualify for matching funds" or "I'll contribute $350 each month to fully fund my Roth IRA this year."
5. Keep a daily financial journal
. A wonderful way to help yourself stay motivated and move toward your financial goals is to begin a daily financial journal. You can write this journal the old-fashioned way, by hand, or you can create one online and join the many personal finance bloggers who keep track of their finances for the world to see.
Keeping a daily journal will help you stay focused on your money goals, offer a daily reminder of where you want your finances to be in the future and allow you to see your progress as you strive for those goals. When you get frustrated or discouraged, going back and reviewing the progress you have made will be invaluable to helping you stay motivated.
6. Don't keep it a secret and involve the entire family
. While you may be tempted to keep your financial goals a secret, you will be much better off if you let others know what they are. It is much harder to back out or give up on your financial goals when you create a sort of personal accountability by announcing them to others. Letting others in on your goals also creates a support network that can help motivate and encourage you when times get hard.
For those with families, involving the entire household in your financial goals works in your interest. You will have a much better chance of completing your goals as a team than if you try to accomplish them entirely by yourself. The more people you involve, the more ideas you will have on how to reach those goals.
In addition, the undertaking could prove to be a financial learning experience for the entire family instead of just a one-person odyssey. If you fail to involve family members, they could inadvertently sabotage your efforts to reach your financial goals, and they may not understand why certain monetary sacrifices are being made. Taking the time to include everyone and seeking their help, advice and ideas will greatly increase your chances of success.