Most people by this point of the year have given up on their goals. How are you doing with yours? Maybe you didn’t even set goals for 2012 because you didn’t want to break them. Even if you didn’t set goals, you probably still have wishes. What are your financial wishes for 2012? Is it to pay down debt, make better spending choices, save more, or improve your credit score? Don’t worry, I’m not psychic. That’s just what most people want.

Wishes and Goals

Wishes rarely come true because they are too vague and fanciful. After the holidays, most of us wish for a lottery win. Goals are usually more realistic than wishes, but many goals fail because they aren’t specific enough. You need something achievable to work towards, and you need the satisfaction of knowing when you’ve achieved it. If your goal is to “pay off debt” does that mean you failed if you take a loan on a new car, or if you paid off some debt, but not all?  A better way to word your goal might be “reduce credit card debt by 50% by December 31, 2012.”  You were specific about the type of debt, the dollar amount, and the date you plan to celebrate your achievement. That’s a great goal and worthy of a wish.

Goals and Plans

What’s your specific goal? Don’t worry if you don’t know yet. I’ll help you figure it out, then I’ll help you make a plan to achieve it.

There are three steps I want you to take. Step 1: figure out exactly where you are today (the starting point).  Step 2: Create your specific goal based on your current reality. Step 3: make your plan to achieve your goals.

This is not meant to be overwhelming. Let’s follow the financial story of Jason (a completely made up person):

Jason completed steps 1 and 2. He added up all his credit card debt and set a specific goal to cut that debt in half by 2013.

Jason’s Current Reality: $12,000 in credit card debt
Jason’s Goal for December 31, 2012: $6,000 in credit card debt

In order to complete Step 3 (make a plan), Jason needs to look for ways to pay $6,000 in debt during the year. To be more specific, he needs to pay an average of $500 per month. That’s assuming he is not adding new charges to his credit cards. He’ll have to pay more each month if he is. (He may need to pay more to cover his interest charges as well.)

Plans and Achievements

You might be wondering how Jason will find an extra $500 each month to pay down his credit cards. The simple answer? Earn more, spend less, or a combination of both. Jason has already cut his spending down, so he will need to earn more money.

You are probably thinking “Easier said than done!” It’s not always easy to achieve your dreams, but it’s usually worth trying.

A business coach once gave me an exercise that I found really helpful. She told me to write down 20 things I could do to increase my income. This is what we’re going to ask Jason to do.

Here are some ideas to get his creativity flowing:

1.       Work 3 more hours a week for overtime
2.       Find a part time job
3.       Sell unwanted items
4.       Turn his hobby into cash
5.       Ask for a raise

This is a brainstorming session, so Jason shouldn’t worry that his ideas aren’t realistic. The idea is to write down all the possibilities without judging them. Once he’s done writing, then he can determine which ideas to use over the next year in order to get that $500. He has a plan to earn extra money, and he has a list to follow that will help him achieve his goal.

If, like Jason, you’re trying to make your financial wishes come true this year, remember to reassess your progress during the year. Don’t wait until December 15 only to find out that your plan isn’t working. Check in with yourself monthly and make adjustments as needed.  Join me for my upcoming teleclass in February to learn more. Visit JillRussoFoster.com/YourMoney

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Details on how Jill can help below.

Now that it’s January, have you noticed that your year is starting just like years past? Are you vowing to pay off your debt, save more money, spend your money more wisely, and just get your finances organized?

Have you ever wondered where your money goes?

Do you look at your wallet or bank account and wish there was more money there?

Do you wake up during the night, and just lay there, wondering how you will pay your debt?

Do you dread looking into your finances? Is there a hidden part of you that believes, somehow, that not looking means that maybe the problems don’t exist?

You are not alone.  Most people have no idea where their money goes. Most people can’t answer questions about how much debt they have, or what their credit score is.

This year could be different!

• Do you want to know where your money is going?
• Do you want to make changes so that you can save more for fun things in your life, pay off your debt, plan for your retirement, or your children’s education?
• Do you want to improve your credit and therefore your score?
• Do you want to be able to have a system for your financial paperwork?

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Visit JillRussoFoster.com/YourMoney

Do you feel like you’re stuck?  Are your goals the same this year as the year before (and the year before that?)  Here we are near the end of another year.  Did you achieve your goal?  If not, read on.

Earlier this year, I did a talk about the things people believe about money. The attendees were given a list of money scenarios, and I asked them to check off the scenarios they believed were true about them.  Nearly everyone in the room checked off beliefs of scarcity – robbing Peter to pay Paul, not having enough to pay monthly bills, etc.  I suggested that it was their beliefs holding them back – and not their situation

Let’s go back and talk about beliefs.  Beliefs are not facts. They are often things that you learned when you were younger and you now believe them to be true (whether they are or not).  One belief that I struggle with is that I am not worthy of success.  I have done a lot of reading, and a lot of work on myself, to overcome this belief.   I have to admit that I am not fully there, and there are times that I catch myself reverting back to my old thoughts. Overcoming false beliefs can be a never ending process.

I’ve learned that I have to retrain my subconscious mind to accept a new belief or affirmation.  An affirmation is a positive belief that reframes your thoughts.  Taking my example, I replace the words “I am not worthy” with “I am deserving of happiness, success and love just the way I am.” I repeat this affirmation to myself several times a day until I believe it to be true.

You can reframe any belief into a positive affirmation.  Remember that old philosophical question:  is the glass half empty or half full?  Train your subconscious mind to think positively and you will be amazed at what life brings you when you are open to receive it.

How to set your goals for 2012:

1. Reframe each goal into an affirmation, i.e. “I deserve to be free of debt.”
2. Write down the reasons you want each goal.  Reasons can help you to see the bigger picture.  For example, if your goal is to be free of debt, you could write “I want to be stress free. I want to focus on saving for retirement. I want a more flexible monthly budget.”

Now that you’ve set your goals for 2012, try this for your 2012 resolution.

1. Think positive.
2. Be aware of when a negative belief comes up and replace it with your affirmation.
3. Make a list of the things that you are grateful for each and every day to keep you in that half full glass mode.

When you give yourself a positive outlook, you clear the path to achieving your goals in all areas of your life.