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How to Set 2012 Money Goals That Work

Most people fail to achieve New Year’s resolutions, but these strategies can help overcome those odds

December 28, 2011 RSS Feed Print

5. Ignore any holiday windfalls. If you receive a bonus, raise, tax refund, or generous holiday gift in cash, SavvyMoney.com editor Jean Chatzy suggests pretending it doesn't exist. "Funnel a bonus or tax refund directly into savings, without giving yourself a chance to spend it," she says, and if you have credit card debt, use the money to pay it off. Otherwise, she says, that money could easily disappear on less meaningful expenditures.

What are your 2012 money goals? Please share them below.

Twitter: @alphaconsumer

Tags:
personal finance,
money

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shirleybrown740 of CA 1:24AM May 17, 2012

I want to double the amount that I regularly save and not dip into for the year.

I want to build up a travel account so I can travel.

Rhonda of CA 10:48PM January 17, 2012

Great article, there are a couple of things I would never have thought of in reference to being more fincially cost effective like choosing healthier habits. Interesting perspective. I wanted to add, also in the business perspective, it is important in outlining your strategic goals is by asking four questions:

1. Is the objective measurable or verifiable? Important to track the most effective ways to achieving the goals - it encourages progress and can be used either in the future or in other goal setting metrics.

2. Is the objective feasible or achievable?

Don't create unrealistic goals, otherwise the disappointment could make it more difficult to bounce back.

3. Is the objective adaptable or flexible?

Very important to a budget when loosing a job or new addition to the family...all budgets, financial goals need to have flexibility and openness to be readjusted or revisited if the basic fundamentals of financial flows change.

4. Is the objective consistent with the rest of your strategic plan? Important to not loose focus on the simpler goals...or get lost in the details. Stay focused.

I think this goes along with the previously mentioned "baby steps" earlier on in the article, these questions are good techniques in focusing in on the specific goals, and making sure they are achievable.

For a more specific and business/company oriented approach to creating your strategic goals for 2012, go to this blog:

http://www.pcg-services.com/developing-strategic-objectives-for-2012/

This blog was great at assisting me with more thorough methods for business/company goal strategies, especially with financial flows.

Dana Costantino of CA 2:39PM December 29, 2011

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