5 Killer Steps To Ensure Your Financial Goals Are On Track

5 Killer Steps To Ensure Your Financial Goals Are On Track
Having financial goals is essential to any success. You need to have these goals so that you can plan your life and save your finances accordingly.
But it can be difficult to ensure that these goals are going according to plan when you have bumps in the road. You might have to dip into your savings to repair a damaged car or you might have to repay an unforeseen debt. 

If you have financial steps in place such as investment insurance, you are able to ensure that your goals are still attainable. Read on for some helpful advice on how to ensure your financial goals are on track. 

- Start with a plan

There are no goals without a plan, so this is the first step to ensuring you stay on track. For example, if one of your short-term financial goals is to go on an exciting holiday, you will need to lay out a plan for how much you are willing and able to spend on this holiday. Your plan should include as much detail as possible so that you can refer back to it when you need to be reminded of what your goals are and how you will reach them. Include a spreadsheet detailing your expenses. This way you will be able to allocate money to your goals without having to scrimp and save for your daily expenses. Make sure your plans are realistic and your goals are attainable.

- Prepare a budget

Once you have laid out your plans, you can move on to preparing a budget. The best way to start doing this is to keep track of all of your money. Start by writing down your salary after taxes, then list all of your expenses and savings for three months so you can analyse how your finances are doing. 

You will need to look at the final numbers to determine “disposable income”, which is the money you will use to put aside for your financial goals. Be sure to align your saving and spending so that it helps reach both your long- and short-term financial goals. If you are battling to keep track of your spending, you can use an online budget-creation tool or look for an app that you can easily log expenses and spending on to keep you accountable. 

- Start small

Starting with a huge financial goal right out of the gate is not advisable. Rather, you should start with a small goal and then move onto achieving larger ones. For example, you could take out retrenchment policy insurance if you are starting a family. 

Starting small does not mean that you will never be able to achieve long-term financial goals, simply that you will be starting small in order to see how the process works. You can tailor and change your saving process while reaching smaller financial goals and this will make you more successful when working towards your long-term goals.

- Look at your emotions

Emotions and money are linked, even if you think you are not an emotional spender. Your goals will not be helped if you enjoy online shopping after a bad day at work or if you prefer eating out to celebrate an occasion. You will need to examine your emotions when it comes to both saving and spending money. 

Once you have identified your emotional triggers, you will better be able to curb this type of spending. If you know that you tend to overspend after a difficult workday, rather go for a jog or to the gym to alleviate the stress and negative feelings. You will save the money you would have spent on an unnecessary item and you can use this towards one for your more important financial goals. 

- Invest in insurance

We can never see what is just around the corner in life, which is why insurance is so important. It is a good idea to look into insurance on your finances, as these will allow you to have financial stability should you lose your job due to retrenchment or disability. The payout will be used to repay your outstanding debts while you are unemployed.

Now, you might be wondering how insurance can help you to reach your financial goals or keep them on track. The reality is that you will be able to repay debts and maintain your lifestyle should you lose your job if you have the right insurance. You will not have to scramble to save money each month but can work towards accomplishing your goals.


Financial goals are not impossible to attain. With some simple planning and budget planning, you will be able to achieve your goals. Be sure to start with a plan and a budget, and aim for the smaller goals first so you can work on your system and build-up to the larger ones. Keep your emotions in check and take out insurance so your income is protected in any situation. Soon you will find yourself reaching your goals with ease.
Next Post »