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New Year Financial Goals

By: 6 January 2012 No Comment

The New Year is just starting to get underway. Everyone should have some kind of goals for their money and now is the perfect time to be thinking about goals for 2012. Many people wish for good things to happen to them financially, however, too few take action to turn those wishes into becoming reality.

“It is important to create a few financial goals,” said Mark Foster, Director of Education for Credit Counseling of Arkansas (CCOA). “As hockey legend Wayne Gretzky said, ‘You miss 100 percent of the shots you don’t take.’ ”

Here are a few more helpful tips from CCOA:

Create a few goals for the year – maybe three to six goals, or whatever you feel capable of. But don’t overdo it. It’s easy to bite off more than you can chew by pursuing too many goals, which can leave you feeling overwhelmed and discouraged.

Goals will vary from person to person, but some examples might be: Start a retirement account; pay off a credit card debt; or to save $1,500 towards the down payment on a car.

Make your goals specific, too. A goal such as “better financial health” is too vague – come up with something more specific so you will know exactly what to aim for and know when you have achieved it.

Most importantly, write your goals down and post them where you can see them daily, as a constant reminder. Statistics show that when goals are written down, there is a much higher success rate for reaching those goals.

Don’t beat yourself up at the end of the year if you fall a little short of your goals. Rather than focusing on whatever fell short, focus on your successes instead. “One year I made a list of eight goals,” Foster said. “By the end of the year, I had achieved five of my goals, with two other goals achieving some progress and only one goal that failed to even start. At first, I started to kick myself for the one goal that never got underway, until I realized that I had a very productive year and needed to appreciate the success of what was achieved.”

Start the New Year off right by having a few written financial goals for 2012. For a confidential free budgeting and credit counseling session, contact CCOA at (800) 889-4916 or go online to You’ll find CCOA on Facebook at and on Twitter at CCOA’s Debt Management Program can lower interest rates and lower monthly payments to help debtors become debt free.

About: Ethan C. Nobles:
Benton resident. Rogue journalist. Recovering attorney. Email =

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