HOW TO SPEND YOUR MONEY???

Just set "SMART" financial goals

Choosing financial goals will be different for different people; however, there are some rules that apply to setting any financial goal. Financial goals that follow a "SMART" path are easier to plan for and to attain.

S - Set specific goals that are clearly defined. Ambiguous or vague goals do not give you a solid foundation to begin your plan.

M - Goals should be measurable in time and in money. How long will it take you to reach the goal and how much money will it take to reach the goal? If you cannot answer both of these questions, evaluate your financial goal again to make it more specific.

A - Goals set higher than your current financial means will allow become frustrating. Therefore, goals must beachievable and attainable - - that is to say, the goal you choose must be possible within your current budget. Otherwise, you will become frustrated when you cannot reach your goals.

R - Money goals should be realistic. It is great to dream about the future; however, do not dream above your means. If purchasing a brand new car is not within your current financial means, set a goal to buy a "new to you" vehicle.

T - Set a specific target date for your money goals. Be specific with your dates, rather than saying summer of 2015 or June 2015 - - pick the day and mark it on a calendar as your target date. Furthermore, write down everything you are willing to give up as a trade-off for your money goal. Are you willing to give up lunch out each day for your new car?

Whatever your money goals are, if you following a "SMART" path you can reach each goal and take charge of your personal finances.