The Internet's best resource for credit repair information.
Credit Repair Services
____________
About Credit
Consumer Reporting Agencies (CRAs)
Credit Repair - Do It Yourself?
Credit Counseling Organizations
Money Management - Credit Goals
Debt Consolidation
Debt Consolidation FAQs
___________________________
Learn all there is to know about debt, including 'good' debt and 'bad debt', how to manage debt and how to avoid facing a debt crisis.
Learn how to assess your
financial health and net worth and all about setting and reaching your
financial goals.
Privacy
Disclaimer
Step 1 - Setting
Goals
Step 2 - Collecting
Facts and Figures
Step 3 - Assessment of
Financial Health
Step 4 - Realistic Goals
Step 5 - Action Plan
Step 6 - Review and Assessment
The most important first step to setting goals for money management is
getting your debt payments under control, and ensuring that your credit
rating is as good as it can be. Bad credit costs a great deal.
Learn how bad credit affects what you pay for cars, homes and everything else.
Click here for a FREE online credit evaluation! Let the experts collect your financial facts and assess your financial situation.
Setting Goals and
Objectives
What are your financial goals and objectives? This requires more thought
than you may think. These goals are the foundation upon which any sound
financial plan is based. This step helps to determine the goals
themselves, timeframes for fulfilling them, and how much money you require
to reach the goal. A clearly defined outline of your goals can also help
when developing a strategy to invest your money. For example, if one of
your primary goals is to save for your child's education, the age of your
child may determine whether your investment should be long term or short
term.
Ensure as you set your financial goals that each is clearly defined and
measurable so that you are able to easily monitor your progress. As well,
it is helpful to note whether a goal is short term or long term (1 year, 5
year, 10 year, 20 year, for example). Always keep your list of goals
accessible so that you may refer to them often. This helps to keep you on
the right track and to make any changes that are required as life events
occur or priorities change.
How goals change
Financial goals change due to a number of variables. Some of these
include:
1) marital status - single or married/partner
2) children
3) age of children
4) parents aging
5) medical costs
6) dental costs
7) years until retirement
At different phases of life, people have different priorities and these
have a profound impact on financial life. A goal for the young, single
person may be to save for their first automobile or their education. Once
a person has a partner, their priorities may change and focus more on
saving for a home or a wedding. Once children enter the picture, people
tend to want to focus on long term saving and their child's education. As
people continue to age, a greater focus will likely be on retirement
planning and taking care of aging parents.
For all of these reasons, financial goals continually change and develop
over time. The key is to start thinking and planning now, so that your
financial health is good when you need it most.
Jump to Step 2 - Collecting Facts and Figures
The ability to set realistic goals rests on your financial health and well being. If your credit history isn't what it should be, get help today!
Click here for a FREE online credit evaluation!
MSN Money provides excellent resources on all
aspects of
money management.
Copyright 2003-2008 All
Rights Reserved.
Contact webmaster@creditreportrepair.net
with
any website technical issues.