Reach your financial goals

By Drum Digital
10 July 2014

Here are four ways to reach your financial goals in the second half of 2014.

1. Organize your financial paperwork

 Whether you want to save more money, improve your credit rating, take control of your investments or something else, good record-keeping will help you more readily achieve your desired outcome.

List your assets (bank accounts and investments) and your liabilities (credit cards, personal loans, bank loans and other debts).

Review this list once a month to have a better idea of where you stand financially.

Find and use a record-keeping system works best for you.

2. Run a “what if” analysis

Contemplate what would happen if a major life event interrupted your personal or professional progress or made it very difficult for you to achieve your goals and think of a plan of action for working through it.

Take certain precautions, think about having extra cash on hand that could be of use in any personal or financial emergency.

Start working towards padding an emergency account to cover your bases throughout the second half of 2014, which will help you start out 2015 on stronger financial footing.

3. Share your goals with someone you trust

Share your goals with someone you trust so you can “check in” with them throughout the remainder of the year.

This should be someone you feel comfortable revealing your successes  and personal failures to.

Sometimes knowing that you’re accountable to somebody  can help you to stay focused and on track with meeting your financial goals.

4. Share your goals with your significant other

Even if your significant other isn’t your accountability partner, it might still be useful to share in these goals with your partner.

By sharing goals you may be surprised to see what some of your partner’s goals are.

This will give you both an idea about where each person wants to spend money. You can also see where you have goals in common. Being aligned with one another, in terms of long-term goals, can be an especially strong way to bond with your partner.

- EBONY.COM

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