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Plan for Financial Success

A few weeks ago I wrote a post on setting SMART Goals and Milestones. If you recall, I talked about the need to set them in bite size blocks to give yourself motivation. A secondary reason to set bite size milestone goals is to aid you in planning and implementation. You see goals don’t just get met, you have to plan for and then execute your plan to achieve those goals. No Plan likely means failure.

Near or Small Goals Versus End Goals

Smaller milestone goals make it easier to plan as you can then sub divide your plan by each goal. The reality is getting to each minor milestone may involve actions that are different than the last but they also need to build on each other to reach your larger goal. If you don’t plan for both the near term goal and build towards the long goal you may find it impossible to reach your end destination As you plan you need to be able to think about what each set of actions you can utilize both separately and together.

This Post as Part of a Plan

To give an analogy, take this post. Each paragraph pertains to a distinct idea. That idea is planned in the context of the paragraph in order to get the paragraph’s intended purpose. However, think of that in the context of the bigger article. If you build this paragraph only to convey a single idea it won’t make sense in the context of the previous or following paragraphs. As such you need to plan both how to write this paragraph and how it fits into the overall article at the same time, before you start writing yourself into a corner.

This Post as Part of a Larger Plan

Which brings us to my goals around page views, the longer term goal. Getting to 10,000 views likely involves driving traffic to a site via basic communication on other blogs and a few good articles. You could deliver this goal quickly by simply writing a salacious post that angers everyone and their mother. That post alone might get 10,000 page views in a month, but you might never have another visitor thus killing your blog. You could also jump around subject areas for every post, and you might hit a single post that does very well on google. However, if you have no common theme it is unlikely you’d grow an overall audience to your content. The key is to build to the 10,000 views with an eye towards what comes after the 10,000 views. In the context of the SMART framework some businesses reference this by adding an R to the end of SMART Goals, to represent repeatable.

Parts of a Plan

The key parts of a plan you need are : Who, what, where, when, how, and cost.
Whom is going to take the action? It might be you or you might outsource it. In this case I write all my own posts and my wife edits.
What are you going to actually do? In this case I’m going to post on the topic of personal finance tied together by some common threads.
Where am I going to do it? In this case we’re talking about my blog.
When am I going to do so? In my case for the first milestone I will write content 3x a week and participate in the personal finance community.
How? Using my personal experience/education combined with various new research,articles,blogs, and books I might read on the subject.
And Finally Cost? 3.95 dollars a month for hosting from BlueHost  and my personal time.

So enough about my example of the plan for this blog.    You should have plans for most aspects of your life.  Some really important ones are retirement plans, Investment plans,  and Wills.  Beyond those there are many more types of planning:  Budgets, Health and Fitness, and Career to name a few.   Basically anything where you have a goal should have a plan.

What are you planning and how? How have you found planning pivotal to achieving your goals?  Speaking of Plans, surprise this is a 2 parter.  On Friday I will give you tips on creating an investment plan.

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10 Comments

  1. Mustard Seed Money
    Mustard Seed Money December 14, 2016

    I have to confess that I need to put together my 2017 goals. I have them floating around in my head but haven’t put them to paper yet.

    Everyone that I know in life that is successful has set up plans and goals to reach their dreams and it’s about time that I do the same.

    Thanks for sharing such a timely post!!!

    • fulltimefinance@fulltimefinance.com
      [email protected] December 14, 2016

      As we approach 2017 it is the time of year for setting plans and goals. As always thanks for the comment.

  2. Go Finance Yourself!
    Go Finance Yourself! December 14, 2016

    I tend to set lofty goals that take some time to achieve. For 2017, I’ve been thinking about breaking them down to include some milestones along the way. For instance, I have a goal to increase my net worth to $1 million. It’s going to take 4-5 years. I have it mapped out and know I can get there, but I plan on setting up some mini goals such as increase my net worth by x% over the next 6 months, 12 months, etc. That way I stay motivated and can enjoy working towards some short-term goals instead of just one big long-term goal.

  3. SomeRandomGuyOnline
    SomeRandomGuyOnline December 14, 2016

    Having a plan is very important in achieving goals, not only financial ones but personal and professional ones as well (such as your blog). Right now I’m just executing my student loan repayment plan and chugging along with my saving/investing plan as well. Like MSM, I haven’t put together my goals for 2017 yet, but they will be addressed by the end of the year.

  4. Tawcan
    Tawcan December 15, 2016

    Have a plan is very important to help achieve your goals. Will have to sit down with my wife and determine our 2017 financial goals and set some plans on how to achieve these goals.

  5. Andrew
    Andrew December 15, 2016

    I’m also a big fan of breaking down big goals into smaller goals. It makes the whole journey much easier to visualize. I’ll be sure to refer to this post again when I’m crafting my 2017 goals!

  6. Jona
    Jona December 20, 2016

    It is the best time to make a few plans for the future and it is time to be
    happy. I’ve read this put up and if I could I desire to
    recommend you few attention-grabbing issues or advice. Maybe you could
    write next articles relating to this article.
    I wish to learn even more things about it!

  7. Kevin drevik
    Kevin drevik May 1, 2017

    How do you determine page views? I’ve got a new blog with wordpress through siteground.

    Any thoughts on how I find out pageviews?

    Sorry if I seem like a newbie here….

    • fulltimefinance@fulltimefinance.com
      [email protected] May 1, 2017

      You need a plugin that adds code to each page to track the views. You really have two main options: jet pack apparently has this functionality or you could use google analytics. Both are free. I’m told google is more accurate and I use it for work so that’s what I use. Feel free to drop me a line via the contact us page if you have questions, I’m always willing to help.

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