Smart Savings Tips

Fitness Goals for Your Finances

Target-iconIf you’re setting a health and fitness goal for yourself, your first step is to map out how and when you will achieve your goal. You’ll likely plan for small victories, or short-term goals along the way.

This short- and long-term planning is also the key to success in your journey through life. To get where you want to be, you’ll need to establish your course and the milestones or goals you need to achieve along the way.

Of course, the most important step in any journey is figuring out where you want to go. Take some time to ask yourself: What goals would I like to achieve within the next two years? These are your short-term goals. Then, think about the goals you have for later on in life. For example, a long-term goal might be to buy a house or to retire in 20 years.

Once you determine your goals, figure out the steps you need to take to achieve them. So if you want to buy that house, you might set a goal of saving $X per month toward the down payment. Your long-term goal might be to accumulate $X in down payment funds in five years. You should approach your short-term goals in the same way. For example, if your goal is to reduce debt in the next year, establish a specific plan for how you will pay off major loans.

As you think about your goals, do the following:

  • Write them down.
  • Be specific. Include the steps you need to take to accomplish your goals.
  • Review your list regularly to see if you’re on track.
  • Make adjustments. As your life changes, your goals may change, so make sure to review and adjust them.
  • Stay the course.

We can help you reach your financial goals. Feel free to talk to your local banker about strategies to save or reduce debt.

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