The HowTo Guide to Goal Setting

The How-To Guide to Goal Setting
By Tom Palange

Financial goals are important because they help you achieve the things you want. Goals such as vacations, paying off a debt or buying a car all require planning, patience and the willingness to work hard at saving your hard-earned dollars. There are three types of goals you should sit down and consider:

Short-term goals: These are goals you should be able to accomplish within one month to a year.Items such as: taking a vacation, buying a new car, or paying off a debt are all items that fit within this category.

Mid-term goals: These are goals you should plan to accomplish within one to five years. Goals such as paying of credit cards, making a major purchase, or remodeling your home can all fit within this category, based on your financial picture.

Long-term goals: These are goals that will take you five years or more to achieve, such as buying a home, saving for retirement or saving for college.
Your goals must be realistic and you must specify a completion date. For example, if you lease a vehicle and find that your lease payment is causing financial strain, a possible mid-term goal might be as simple as deciding to buy a less expensive car in 3 years at the end of my lease. Also try reviewing your goals every now and then, and make adjustments. It is ok to be flexible with your goals. Simply taking the time to think about your goals and putting them on paper is the first step to making them a reality.

ABOUT ACCC:
American Consumer Credit Counseling (ACCC) is a non-profit 501 (c)(3) organization dedicated to empowering consumers to regain control of their lives through financial education, counseling and debt management. ACCC provides individuals with practical solutions for solving financial problems and recognizes that consumers' financial difficulties are often not the result of poor spending habits but more frequently from extenuating circumstances beyond their control. As one of the nation's leading providers of financial education and credit counseling services, ACCC works with consumers to help them with the best plan of action to reduce their debt and regain financial stability. For more information or to access free financial education resources log on to http://www.consumercredit.com

Tom Palange

Education Programs Specialist
American Consumer Credit Counseling

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