Simple Rules Of Goal Setting

BOSTON (CBS) - All this week we are going to cover some of the simple finance rules from The Simple Dollar that lead to personal success.

Set big goals and keep reminding yourself of them. What is it that you want for your future? Having goals can provide incredible motivation and direction for the things you do in your everyday life.

Do you want to buy a house? Do you want a comfortable retirement, early retirement? Do you want to start a business? Do you want to travel around the world? Whatever your goal is, keep it in mind all of the time. Those reminders will keep you on track to make better decisions currently with your money so you will have enough money in the future to reach your goals.

Build a budget. A budget can be a useful tool for keeping your spending on track, but the most valuable part of budgeting is actually the process of building a budget. You want to build a budget based on looking at your actual spending over the previous few months.

Where does your money go each month? How much do you actually spend a month on food? Entertainment? Utilities? Your car? Your grand kids? Get real numbers, not estimates. Dig through your bank statements and credit card statements and figure it out. Now what can you cut back on?

I found using Quicken helps for each month you can print out your monthly expenses and see what the trend is. The holes in the budget show up pretty quickly here.

Cut the fat from your bills. Are you paying for services that you may not really need? Go through your phone and cable bills line by line. Do you really need HBO?

My husband calls our internet provider at least once a year to see what specials they are offering that can lower our current bill. You want to speak to the retention department.

....................

You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.

Subscribe to Dee's Money Matters newsletter here.