Without financial goals and specific plans for meeting them, we drift along and leave our future to chance. Not everyone shares the same financial goals. Your specific goals will depend on a number of factors. What is your financial situation? Where would you like to see yourself in the future? What are your interests and hobbies? Here are some steps for setting financial goals

Step 1: Write down your financial goals, whether they are saving to send your kids to university, buying a new car, saving for a down payment on a house, going on vacation, paying off credit card debt, or planning for retirement.

Step 2: Examine each goal and classify it in to the following categories:

Short term – attainable in less than one year, such as paying for new clothes or saving for a vacation.
Medium term – attainable in less than 5 years, such as buying a car or paying for your home remodeling
Long term – goals that will take several years to attain, such as paying off a mortgage or saving for retirement

Step 3: Educate yourself by reading financial magazines or a book about investing or checking the Internet for investing web sites. Seek out trusted professionals that will help you achieve your goals. Remember this is your money - make it work for you.

Step 4: Periodically review your goals and check to determine if your program is working. If you're not making satisfactory progress on a particular goal, re-evaluate your approach and make changes.

Goals that are lofty will frustrate you and there is a greater chance to abandon them. Goals that are too rigid or inflexible will not get the results you need either. You must prioritize the goals you have. Write down the dates that you set for attaining your goals. The important thing is to do SOMETHING, and to start NOW.