Focus on One Reachable Goal for Military Saves Week
By Joseph Montanaro, CFP®
Pick just one goal. That may seem like a low bar to set as you ponder all the potential opportunities for financial betterment during this year’s Military Saves Week. You don’t have to stick to just one, but one is all you might need to make the last week of February a turning point in your personal financial landscape.
Don’t get me wrong. I like the idea of thinking big — you know, evaluating your entire financial picture, setting a variety of goals, making a comprehensive plan and executing it.
I’ve spent the past 20 years as a financial planner encouraging folks to do just that. But this year, Team Montanaro decided to keep it very simple with our New Year’s resolution (note, it’s not plural). I encourage you to consider doing the same as you contemplate Military Saves Week.
We picked one goal that we felt we could accomplish: systematically saving for our short-term goals and so far, it’s working. We’re well beyond the typical life span of our resolutions without a hint of failure on the horizon.
You’ve probably got plenty of lofty financial goals; maybe you want to build an emergency fund, or finally decided to participate in the Thrift Savings Plan, or maybe you want to simply set and stick to a budget that frees up money to pay off debt. There’s probably a long list of things you’d like to save up for.
All of the aforementioned are all great ideas, and I’d love to see you get them all done. However, I’d be happier to see you pick one goal and succeed, instead of trying to achieve them all and falling on your face.
Military Saves Week is a great opportunity to choose one concept — one small but sustainable goal from many great ideas. Ask yourself this question: “What’s one thing that could make a difference in my financial life?” Then follow through with the action it requires. Make it your “I’m saving for” goal for Military Saves Week.
Knock out one small thing, and you’re on your way to improving the big picture of your finances. Good luck and don’t forget to take the pledge this Military Saves Week!
Source: America Saves blog post