Tag: Financial Dream

Set SMART Financial Goals for 2018

Last week we spent time thinking about our financial dreams. A dream will however remain a dream unless you convert it into a financial goal, create an action plan and start taking action to achieve those goals.

Financial goals are different for every person. Your goals might also change as you grow older or become more financially stable. One person might dream about driving an expensive German car and owning a game farm, while the next person wants to get through the month without having to stress about money. It doesn’t matter what your goal is, but you need to have a goal. Without having a set goal, you will just continue to float through life. Goals give purpose and direction. Goals force you to thrive and not only survive.

The very first step in financial goalsetting is to write down your goals, but write it down in a SMART way:

  • Be Specific – define clearly what your goal is. “I want to get rich” is not a goal. Define what “rich” means to you. For example: ‘I want to buy my first house’.
  • Measure it – set smaller milestones that you will be able to measure. For example: ‘I want to save-up the deposit by the end of this year’.
  • Be Achievable – dream big but be realistic. Your goal must be achievable to keep you motivated. For example: Maybe your ideal home is a double-storey home with a big garden and a swimming pool, but maybe you won’t be able to afford it in the given time. Then you should maybe first invest in a townhouse and upgrade to your ideal home later or when you earn more money.
  • Be Relevant – it should be relevant to you; what is your personal financial goal. It should be something that inspires you. There is no point in making the neighbour’s goal your goal.
  • Set Timelines – set timelines by when you want to achieve what. For example: ‘I want to save-up a deposit to buy my first house by the end of this year and buy my new house in two years’ time when I have enough money to pay for the transfer costs as well’.

Spend time thinking about what your financial dreams are, if you don’t know already. Once you know your financial dreams, covert them into financial goals. Go write down your goals and make sure you have set each goal in a SMART way as explained above. If you write it down, it creates a sense of responsibility and you will be more likely to achieve it. Setting your SMART goals will also help you to compile a plan to achieve those goals.

Download your FREE Financial Goalsetting Workbook to help you get going.

Written by Ronel Jooste

CA(SA) and Financial Coach

Contact Ronel: ronel@financiallyfitlife.co.za

For more information about my financial wellness programmes visit the website

What is Your Financial Dream?

A New Year brings new dreams. We set New Year resolutions. We are ready to take-on new challenges. Popular items on our wish lists usually include goals to live a healthier lifestyle; exercise more frequently; lose weight or spend more time with our loved ones.

The focus is often more on our physical appearance and we tend to ignore our financial wellbeing. We work-out relentlessly to lose those extra kilograms we gained during the December holidays; diligently following an exercise programme or meal plan. We often resist spending time to improve our financial status even though financial difficulty is one of the biggest causes for stress in the majority of households. What is your financial dream though?

  • Maybe you want to become financially stable and no longer have to constantly stress about money?
  • Maybe you want to become debt-free?
  • Will 2018 be the year you are going to buy that dream car?
  • Is buying your first home or maybe upgrading to your dream home on your wish list?
  • Are you dreaming about creating a better lifestyle for yourself and your loved ones in 2018?
  • Do you want to set yourself up to retire comfortably?
  • Are you dreaming about that exotic overseas holiday?
  • Do you want to ensure you put away enough money to pay for your children’s education?
  • Maybe you want to build up a nest egg that will give you peace of mind when something unforeseen happens?
  • Or maybe you want to start with that business on the side to create additional income and can help you to achieve financial freedom?

Take time out to think about your financial dreams. Think about your short-term dreams for 2018 as well as your medium (2-5 years) and longer (5-10 years) term dreams. Write down your financial dreams, no matter how small or big they are. Thereafter create a vision board for yourself with pictures to remind you of all your financial dreams. Put your vision board up on the wall of your bedroom, in your study or at your desk at work where you can see it on a daily basis. The very first step towards making a dream a reality is to start visualizing it.

Written by Ronel Jooste

CA(SA) and Financial Coach

Contact Ronel: ronel@financiallyfitlife.co.za

For more information about my financial wellness programmes click here