Create a “secret Number” to Clarify Your Financial Goal
Most financial goals can be pretty vague. For example, “ saving for retirement ” is a great goal, but it doesn’t tell you much about how you plan to achieve it. To make your goal more specific and visual, create a “secret number” for it.
Money blog Reach Financial Independence suggests attaching a personalized number to represent your goal and then keeping it in plain sight . As an example, the writer cites the goal of making enough money to quit his day-to-day job. His number is based on three things:
- Desired monthly income from side appearances and passive income
- The number of months in a row that income was received before quitting smoking
- Set time
He says his number is 3000-12-16. He wants to make $ 3,000 a month for 12 months in a row to quit his job by 2016.
Your number will vary depending on your goal, but once you create a set of guidelines and attach a few numbers to it, you have a visual representation of what you hope to achieve financially. Read more about this method in the full post.
My secret number | Get financial independence with Rockstar Finance
Photo by artnoose .