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Our Guide To Setting Financial Goals: How To Do It

Our Guide to Setting Financial Goals: How to Do It

Perhaps one of the milestones you’ll want to hit as you get older is to achieve financial freedom, right? Not having to worry about surviving paycheque to paycheque and having the luxury of enjoying your retirement years seems like the ultimate dream. However, the only way to achieve this is by setting financial goals, but how do you do that?

Many people find it difficult to set financial goals. This is because it’s a tedious process to understand your financial health, and it will also push you to look far ahead into the future, so you know what you’re working towards.

When it comes to setting financial goals, it’s always a good idea to work with a financial planner so they can help you navigate through your finances. With their help, you’ll get to build easy steps to help you build momentum, get a steady path towards financial freedom, and eventually hit your goals.

Of course, it’s worth knowing some tips to guide you through this whole process. So, without further ado, below is our guide to help you set financial goals that work for you. Let’s take a look!

Tip #1: Create a Vision and Visualise What You Want to Achieve

To help you set realistic financial goals, it’s best to know what motivates you. This could mean your lifestyle, the career you want, where you want to live, what you’ll enjoy doing, and more.

There’s a great quote from Napoleon Hill’s famous book, Think and Grow Rich, and it goes like this, “Whatever the mind can conceive and believe, the mind can achieve”. The truth is, you first have to visualise your goals and the outcome you want.

Tip #2: Build Positivity with Small Financial Goals

Keeping your eye on the prize can be helpful, but it’s essential to appreciate your small wins, too. And the best way to do this is by building positivity around your small financial wins.

We often get discouraged because we want to achieve more by saving thousands of dollars in a year, but that may not be realistic. It’s vital to build positivity with small financial goals and celebrate them along the way. This could be as small as completing your holidays sinking fund, staying within your monthly budget, or finally getting life insurance – whatever it is and how small they are, they’re still winning.

Tip #3: Work With a Financial Planner

There’s no denying that working with a financial planner can help you set realistic and attainable goals. With their help, they’ll get to assess your current financial health and help you create a plan that will help you stay within budget and on track to financial freedom.

Also, they can break your targets down into a series of manageable steps and milestones to keep you on track and recommend specific goals for each area of your finances.

The Bottom Line: Setting Financial Goals Will Help You Live the Life that Future You Will Be Proud Of

By setting financial goals and working hard to achieve them, you’ll likely be able to live a lifestyle you’re proud of, and with financial freedom, it’ll be your decision of what you do with your time and money.

And of course, the best way to achieve this is by working with a financial planner to help you create achievable milestones and strategies while you navigate your life and finances.

How Can We Help You?

Sydney Wealth Advisers hold some of Sydney’s best financial advisers and financial planners. Our team of experts work closely with their clients to create suitable strategies that offer peace of mind to have the financial lifestyle they desire. Are you looking for a financial planner in Sydney? Reach out to us today!

DISCLAIMER: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice. Newcastle Financial Planning Group, Central Coast Financial Planning Group, Sydney Wealth Advisers, Coastal Advice Port Macquarie and Coastal Advice Ballina Byron are subsidiaries of Coastal Advice Group Pty Ltd which is a Corporate Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429.
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