How to Set Weekly Financial Goals You Can Meet
Benifits, Ideas, Resources
One of the best ways to deal with big financial goals is to break that goal down into smaller pieces that are more manageable, like weekly financial goals. There are people who choose to manage their goals within 24 hours.
However, the problem with working with daily goals is that it is very easy to say “well, I didn’t save anything today, but tomorrow I will save twice as much”. So the day after tomorrow, you say the exact same thing and repeat this cycle until you end up with $0 in savings over a 2-month period.
Therefore, it is important that you maintain a balance between your achievements and the time you fulfill them. Meeting a month’s goals can be a challenge, but it brings great satisfaction when you accomplish it. Therefore, the best possible middle ground is weekly financial goals.
Benefits of setting weekly financial goals
Certainly, managing your goals on a weekly basis is one of the best ways to ensure your success. Be careful, as long as you don’t leave everything at the last minute like we usually do.
These small goals allow you to assess and adjust your approach to your biggest challenge from week to week. They’re also long enough that you won’t fall behind your overall goal if you’ve had a day or two of downtime.
A week is long enough to be able to work on various activities, but short enough to notice the areas where you are making progress and improve where you are not.
- They are more casual, so they require less pressure.
- Feel more attainable than monthly goals
- You can concentrate on several small activities.
- You will stay motivated by being able to see your achievements
- You will receive continuous inspiration to be able to complete activities frequently;
The first step will be choosing a time to sit down and create a small schedule. Maybe the first time you do that, you make sure it’s a bit tricky, but just when you pick up the pace, it’ll be pretty fast.
Spend that time at the end of your Sunday or the beginning of your Monday to focus on the results you’re looking to achieve so you can then write your action plan. Tips from the productivity pros: Make use of a calendar, whether physical or digital and write everything you need there. Writing down your goals is a great way to become more committed to them.
The second step is to break your end goal into small parts. Define your action plan in activities that drive you to reach the final goal. Not only that, but you also need to make sure that your activities are not so heavy as you will probably see them as work and might want to put them off.
start your first week with activities that you are 90% sure you can complete and adapt your next week taking into account the time and effort invested in the previous week.
Soon, continue your week by completing the activities that you have set as mini-goals. Finally, at the end of your week, reflect. This weekly reflection will allow you to realize where you are failing in your time management and realize your progress.
Suppose the time has come when you have already decided that you want to buy your first property.
It’s time to take out a mortgage. But it’s not so easy.
First, it is important that you are financially prepared before proceeding with such a procedure.
Therefore, it is great to start preparing your weekly financial goals. Here we will give examples of two weekly plans.
- Activity 1: Get your credit bureau report/history.
- Activity 2: Determine a monthly amount that you can contribute to your mortgage without damaging your life.
- Activity 3: Find new sources of income.
- Activity 1: Research how to improve your office score.
- Activity 2: Identify the expenses that you can reduce to increase your liquidity.
- Activity 3: Start with one of the sources of income identified in week 1.
More Weekly Financial Goal Ideas We Recommend
Saving and preparing to buy your first home is one of the hundreds of financial goals you can set for yourself. Some examples are:
Pay your credit card in full
Getting rid of credit card debt when it comes to weekly financial goals can be, hands down, one of the best things you do in your life. Since the interest rates on the cards can be very high, therefore, they can lead you to spend a lot of money on pure interest.
A great first step would be to look for alternatives to end your debt through refinancing.
Start building a savings fund
If you don’t have an emergency savings fund, maybe now is the time to build one. Saving little by little can be an excellent and easy solution to put your weekly goals into practice.
Start by eliminating unnecessary expenses, although initially, you need to identify what they are.
Certainly putting your money to work for you is initially a scary idea, but a necessary one if you want to start building an estate.
We advise you to look for different instruments to invest in, such as the purchase of shares, CETES, and even cryptocurrencies.
Helpful Resources to Achieve Your Goals
We don’t want you to eat your new goal without financial support. Therefore, we advise you to use a tool to use as a weekly calendar.
Also, if one of your financial goals is to pay off your credit card debt, we can help you best achieve that goal.
Therefore, setting weekly financial goals has become even more possible, in this article you will find the most diverse tips that fit various investor profiles, according to what you are looking for. If you have just entered this world of investment, do not worry. You can start small with our advice until you adapt to your income and lifestyle.
Setting weekly financial goals can initially be a daunting idea. However, with dedication, it can be repurposed. In addition, you will see excellent results in your finances.
Given this, it is essential that you share this article with your friends who also want to change the way they manage their finances. weekly financial goals can really help us to reach our financial target.