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ealizing that we are not aware that we must all have done the preparation of financial goals or financial goals. Financial Goals are planning that requires the preparation of funds within a certain period of time. For example, in this year you want to get married, then now we must be able to How to Make Financial Goals by calculating the funds that we must prepare.
Because the planning is not enough to be limited to the short term of the wedding party but also to think about long activities such as household funds which are the first step in life after the wedding party ends.
Information On How To Create Financial Goals
About how to make this purpose I will take an example of planning the purpose of getting married, you must know very well what can be used as a signpost in making this wedding budget. Illustrations like this need after a wedding are not just about the need to eat. You will pay some electricity, water, telephone bills and others.
If we quote from the Theory that states that the idealistic savings of the household are at least 6 times that of the salary of the husband and wife. not to mention if you plan to choose a baby. then there will be more dependents.
The illustration can provide an overview for you of the importance of financial planning, either for your specific financial goals or as a deposit fund for unexpected needs in the future.
Making finances is not a small thing because during its implementation, there are many people who are tempted and touch these deposits, whether for the benefit of needs or desires. even so no one can successfully achieve their financial goals.
a person’s success in achieving his goals lies in the preparation and implementation of the financial plan correctly. So the success of that financial goal lies in the hope of being realized instantly.
To help you in achieving your goals, here are some things that can be a reference to achieve financial goals. not only at the beginning of your financial planning, but also the way it is achieved. Here are the steps to develop your financial goals.
Make a List of Financial Goals You Want to Fulfill
The first step you have to do is to make financial goals clear. In order for this step to run perfectly, try not to be depressed, let alone stressed.
What are your top 3 priorities right now? Buying a house? Opening an investment account? Paying an education loan? Or even all three? Write down existing goals to make it easier for you to achieve those financial goals.
By writing down financial goals. You can prioritize which one is the most urgent or should get attention first. So that the distribution of funds can be appropriate according to payment needs.
How to make your goals come true? Here’s how.
Be Aware of Your True Motivations
The motivation to achieve something must be intrinsic not extrinsic. Intrinsic motivation is the motivation you have for yourself.
For example, “I want to raise an emergency fund because everyone does it,” Another example is, “I will raise an emergency fund, because if I am laid off one day even if it is not my fault, I will still be able to live by being a freelancer.”
While this example, “I had to pay for my credit card because my wife kept yelling at me,” is extrinsic motivation. When compared to this, “I’m going to pay for my credit card, so I can be financially safe,” that’s an intrinsic motivational phrase. Well, you already understand the difference, right?
Structure Your Financial Goals
Most people have more than one financial goal. That’s actually perfectly fine. However, we recommend that you should give priority to these three main objectives, including:
- Being on the same track with a retirement plan
- Included in the growing emergency fund (at least it can guarantee life for the next 6 months.
Relates to the repayment of all large bills.
You can also make your goal arrangement a little differently, for example, if you have paid off all the credit card bills, you can only save to get a new car that is more suitable for use in the next few years.
Making Specific Goals Measurable and Challenging
It would be better if you had goals that are clear, measurable, and require you to rise up in response to challenges. In order for the goal to be truly achieved, your goal must be realistic. You should also give yourself wiggle room.
For example, a person who is on a diet, there is a motivation to lose weight between 2 and 4 kg. While the other type decided to lose weight by 3 kg. Clear goals will help make it easier for you to achieve what you plan through related activities.
Visualizing the Entire Trial Process
You already have a specific goal in mind, but how do you achieve it? That is by visualizing the experimental process to achieve these goals. Researchers have shown the results that this would be better than just setting up visionary goals. Also be aware of the existence of different triggering experiences and the emergence of new behaviors.
Evaluating the Budget
This planning will not work when you yourself have no real funds or money. Therefore, you should evaluate this cost or budget from two points of view. The first point of view is to multiply the take-home payment by 0.2.
Why 0.2? 0.2 or 20% is a good rule for how much funds you have to raise to achieve that financial goal. Secondly, take a look at where the current costs are the most likely to be taken.
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- Financial Management in Islam
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Dividing Funds On Every Purpose
You now have an idea of what steps can be taken and how much funds you should have to make that goal a reality. When you have multiple financial goals, remember to divide the funds you have into each financial goal.
Automate Progress
Don’t rely on your unwavering desires. Therefore, automate your progress. To help you, try checking into your savings account to divide the amount of money you want to save as well as the money you want to use for transactions when the bill payment limit arrives.
Sharing Together With Loved Ones
Doing the steps that have already been spelled out is a good thing. But passing on success to your peers can increase your chances of achieving goals. So, invite your supportive friend or co-worker, tell him or her about your financial goals, and then do an evaluation once a week to share how you guys do it.
Create Financial Goals: Observing Progress
After running for some time, you must have the desire to check and evaluate the progress frequently. As a suggestion, do a quick check. Because, with one look, you should be able to see whether the plan that has been done is successful or not.
Keep Respecting Yourself
Although sometimes there are plans that are not achieved, you can still reward yourself for doing a good job. Treat yourself well, the way is by doing something you love like a vacation, eating at your favorite place, and more.
Create Financial Goals: Repeat steps 1 through 10
Once you have successfully achieved financial goals, the desire to achieve other financial goals has great potential to appear again. Remember, basically man is insatiable, he always has other goals even though his main goal has been realized.
However, with your success in achieving previous financial goals, it will be easier to achieve other financial goals by doing again steps number 1 to 10.
Looking at some of the tips that have been mentioned above, actually where the key to your success to achieve financial goals lies is a disciplined attitude.
The tips above are just support so that you can more easily achieve financial goals. The most important thing is to explain in detail the financial goals and make sure that they are your priorities. Thus a review of How to Make Financial Goals, the information above is useful if you apply it. The key to the information above is a discipline and willingness to achieve what you expect.