4 Best Financial Goals for the New Year | Motilal Oswal
4 Best Financial Goals for the New Year | Motilal Oswal

How to Set Achievable Goals in the New Financial Year?

This is the time once again where all the focus is on tax. Now that the government has released the Union Budget 2017, the focus of one and all is on superannuation and the country 's economy and of course on setting financial goals. The budget is indeed a reminder for all those investors, who need to smartly use this time to set their goals for the new financial year. Personal goal setting will help you in being focused on what really works for the business and this also prevents one from getting sidetracked. If you want to achieve success, then it is important to plan your goals in advance.   How to set smart goals? When Albert Einstein was questioned about an advice he had for students, he asked them all to think for one hour daily to know about all those ideas they are being taught in schools. As per Psycho-Cybernetics, people have the ability to program the mind to achieve the results they always desire. By thinking dramatically, one can with ease achieve success financially. Goal setting can be termed as an art that focuses on the mind 's creativity to achieve special results. This is one of those success secrets of all time. One has to take the needed time to learn to set smart goals. There are some key steps to set up effective goals and to achieve them. Let us have a look at some of them. How to Set Financial Goals for the New Financial Year? It is time to find an inspiration Experts always suggest starting with the bigger picture and questioning yourself on what you wish to achieve financially. What is it about your career or business that inspires you each morning? Find the motivation behind all that you do and create a goal for the new financial year. Do you want to create wealth or are you planning to expand your business? Whatever the reason is, knowing the answer to "Why " will provide you with the needed clarity to set proper and realistic goals. This way you can as well start working towards them with ease. Break it up Once you know what your inspiration is, it is time to break it down to proper actionable steps. It gets harder to achieve one goal, but it gets easy with short-term achievable goals. If you plan to increase the revenue of your business in the coming few years, you can start with breaking it into small steps and plan to increase the revenue per quarter. Always be smart about the goals you set Make sure to have smart goals. Your goals have to be: -  Specific -  Measurable -  Achievable -  Relevant -  Time-based By setting clear and manageable goals, you can be sure about being on a focused path. Implementing your goals  Once you have planned the financial goals for the new financial year, it is the time you implement them. Being focused on the set goal can sound like real hard work, but it provides good results in the long run. It is also important to check your own progress. If you are not able to meet any goal, you can quickly re-evaluate and check if your goals are really smart. If you find that your financial goals are not smart enough, it is time to replace them with those that can be achievable. To achieve goals success, it is important to start acting on the first step and keep on adding energy towards achieving your commitment to succeed. Once a step is achieved, it is also important to stop and analyze the progress. There are also some questions you need to ask yourself. 'What goals have I worked on? ' 'Did I do well in achieving the goals? ' 'How can I do better? ' As a conclusion, it can be said that success is a gradual progression, which includes small actionable steps that can be taken towards the realization of your dreams. Do remember that with realistic goals and with time, you can achieve anything and everything. Remember that every goal you set is always woven around an action plan that will lay the path to your success.

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