Part 4/7:
Writing down financial goals is a simple yet highly effective practice. Studies suggest that having written goals increases the likelihood of accomplishing them by 42%. By physically writing down your financial aspirations, you create clarity and commitment in your planning.
At the beginning of each year—or anytime convenient—you can jot down both short-term and long-term goals. These might range from saving for a vacation to maxing out retirement contributions. Monitoring these goals regularly allows for adjustments and makes achieving them feel more attainable. Harvard Business School found that people who set goals frequently outperform those who do not.