Achieving Your Financial Goals In Seven Easy Steps

Achieving your financial goals is not just a personal thing. If an accountancy career is what you’re after – and of course we hope you are! – then you need to be credible in the eyes of your clients you need by being able to demonstrate your own financial responsibility.

Or put another way – why should a client trust you to manage their financial affairs if you can’t even manage your own? It’s actually a long-standing cliché in the accounting profession about accountants being hopeless at managing their own finances. A bit like the builder who never finishes the work on their own house.

OK, nice sentiment but what do you need to do?

Setting a goal is the first step toward achievement. It frames the desired end-result and provides a clear objective. Setting a goal also greatly increases the likelihood of success. Follow these seven steps to make it happen.

1. Set a goal

Make your financial goal measurable, meaningful, and time-specific.

2. Decide on a  time frame

Is your goal going to happen in the next 3 months or in 30 years? If the time horizon is long-term, it’s a good idea to set shorter, intermediate goals along the way.

3. Get the information you need

Do you know everything you need to know to set an appropriate goal? Do you have all the information and expertise you need to accomplish the goal?

4. Get the help you require

We all use experts every day. We have experts teaching our children and taking care of our teeth. There are great financial experts out there to assist you. Get the help you need.

5. Make a plan

How are you going to reach this goal? What steps are involved? Make a plan and follow it.

6. Evaluate your progress periodically

If you’re getting off-track, the sooner you notice it, the better.

7. Adjust your course

Accomplishing a goal without some adjustment along the way is unusual. Measure your results and make the necessary adjustments.

Achieving Your Goals - Summary

Setting and achieving your financial goals is similar to setting any other type of goal. Ensure the goal is appropriate and supported by others that are involved. Get the information and assistance you require to make effective decisions and accomplish the goal. Then, simply review the results and adjust your approach until the goal is met. Then celebrate your success!

Even if you can demonstrate this kind of simple logic to your clients then they will be impressed by your financial savvy. Do not underestimate the value of achieving your financial goals.