You have several dreams in your life. Many of those dreams require money to make them come true. You can easily realize your dreams through setting-up your financial goals.
Your financial goals are quite clear, realistic & reasonable. But, you are facing some hurdles to achieve them. These hurdles can make you feel discouraged for some moments.
You need to follow some simple yet significant steps to improve your money situations. You should not worry for the slow pace of your progress. Here are top 16 steps to achieve money goals without feeling discouraged:
(1) Define Your Financial Goals Clearly
It is one of the topmost steps to achieve money goals without feeling discouraged. It can set you on a right path. It should always be inspirational in nature depending on your own values & interests.
A clear & realistic financial goal should be well written, achievable, measurable (or time bound) and as specific as possible.
According to a 2013 study conducted by Gail Matthews, a Psychology professor at Dominican University, a clearly written goal is 42% more likely to be achieved by you.
People with written financial plan can save twice as much as those without a plan, says a Wells Fargo survey. Thus, you can easily tackle a more specific outcome without feeling discouraged.
(2) Breaking Larger Goals Into Smaller Goals
It is one of the great steps to achieve money goals without feeling discouraged. Setting large financial plan can often discourage you from achieving the entire goal. It’ very important to break large money goals into smaller & easily manageable one as it seems to be less daunting task.
This way you will also have much more opportunities to achieve your final outcome. You should set your daily goals and make them small. You should also accept possibilities to fail several times in the process.
You have to keep your short-term expectations quite low but long-term expectation high. For examples, if you want to pay off your debts then you should pay off smaller debt with high interest rate first followed by larger debts with low interest rate.
It will provide you enough motivation due to good momentum of repayment.