Comments on: Create a Financial Mission Statement to Stay Focused

By: Newly Married? Here Are Some Financial Changes to Make | Frugal Dad

Newly Married? Here Are Some Financial Changes to Make | Frugal Dad — Fri, 26 Feb 2010 10:05:56 +0000

[...] getting married. Either way, you should sit down again and come up with a game plan. I recommend creating a financial mission statement. In it, you can set your financial goals, determine how you are going to achieve them and find ways [...]

By: Ace of Wealth

Ace of Wealth — Sat, 30 Jan 2010 05:44:09 +0000

This is a great idea. Understanding what you're working so hard to save towards will only be a motivator. Saving without any specific goals or direction is a lot more difficult, and normally leads to failure. .-= Ace of Wealth´s lastest post ..Book Review: Automatic Millionaire =-.

By: Our Credit Card Journey: Swipers To Shredders | Frugal Dad

Our Credit Card Journey: Swipers To Shredders | Frugal Dad — Fri, 11 Dec 2009 10:04:00 +0000

[...] was on the horizon if we didn’t do something. We sat down, came up with a game plan, and wrote down our goals. The first thing to go was our credit cards. Let me tell you something, shredding something that [...]

By: Simple Financial Weekly Round Up- What’s Holding You Back? | Simplified Financial Lifestyle

Fri, 05 Jun 2009 12:48:34 +0000

[...] Create a financial mission statement to stay focused by Your Money Relationship [...]

By: Mr Beagle

Mr Beagle — Fri, 05 Jun 2009 05:42:23 +0000

I absolutely agree. Writing down our goals gives our financial planning greater effectiveness. We become pro-active in handling our finances instead of being reactive to circumstances around us.

I’ve been saying that we should have goals before we even spend a single cent in investments. How will you know what you want to invest in, if you don’t even know what you want to achieve?

Adding on to your points of addressing problems, concrete action steps, and personal values: good financial mission statements (or financial goals) need to be SMART:
1. Specific
2. Measurable
3. Ambitious
4. Result-oriented
5. Time bound

P/S: The text of your blog post isn’t showing up on my browser (Firefox 3.010). I’m not sure if others are having this problem. I had to view the HTML source to read the post

Mr Beagle’s last blog post..Future Value Calculator

By: Weekly Roundup: Bad Car Luck Edition | Frugal Dad

Weekly Roundup: Bad Car Luck Edition | Frugal Dad — Thu, 04 Jun 2009 10:01:10 +0000

[...] Create a Financial Mission Statement to Stay Focused. It’s funny; we often suggest people create a written list of goals to accomplish a given task, but how many of us think to put our financial mission down on paper? (@Money Relationship) [...]

By: meinmillions

meinmillions — Wed, 03 Jun 2009 19:02:51 +0000

This is a great idea. I'm planning on creating a hybrid mission statement/investment statement in a future blog post. meinmillions's last blog post..June Goals

By: Matt Jabs

Matt Jabs — Mon, 01 Jun 2009 14:23:59 +0000

This is a very thorough implementation of a Financial Mission Statement and one that will be beneficial for all who employ it. I called mine a "Financial Philosophy" & went a shorter route by stating in a few words, "Sacrifice not to benefit later". I then break my statement into more specific goals to follow, but they all focus on my mission of sacrificing. No matter what method you employ, creating a Financial Mission Statement is an exercise you will benefit greatly from. Matt Jabs's last blog post..Reduce Monthly Bills - TV Edition

By: Craig

Craig — Thu, 28 May 2009 16:40:28 +0000

I like this strategy, it’s a good way to write down exactly what your plan is and how to keep it. A great starting place for those who want to begin getting their finances in order.