Americans and Financial Planning - The S.M.A.R.T Way To Family Financial Goals

Americans and financial planning seem to be mutually exclusive terms. As a society, we overspend and often overlook planning. Sometimes we simply can't afford the advice of a financial guru because our wages don't meet the cost of living. That's why more people today are looking for do it yourself financial planning guides and the best family budget plans to get back on track. So while it's true that money isn't everything, setting family financial goals does lead to a happier life.

Perhaps you need help with spending decisions, getting out of debt, setting up a budget, or saving more money. The bottom line is that everyone in the family has to do their part. When everyone works together, everyone's life improves. In truth, there's no great mystery to becoming financially free. What people lack is the ability to set family financial goals, or they prescribe to do it yourself financial planning guides that simply don't work.

Do It Yourself Financial Planning Guides - Family Financial Goals That Work

Vince Shorb, a finance expert to young adults, has fine tuned what he calls the S.M.A.R.T approach. It's one of the do it yourself financial planning guides to help withsetting goals for financial freedom. The S.M.A.R.T method includes:

• The 'S' stands for goals that are Specific and Significant. If you can really see the family financial goals, that's the first step in making financial goals a reality. The goals must also be significant, and mean something to your family.

• The 'M' stands for goals that are Measurable and Motivational. Be sure that when you set family financial goals you can measure their success or failure. They should also be big enough to motivate you to attain them.

• The 'A' stands for goals that are Attainable. Many do it yourself financial planning guides fail at this step because they forget to point out that your financial/money goals need to be realistic.

• The 'R' stands for goals that are Results-oriented, Related and have compelling reasons. Phrase your goals in the positive by using results-oriented words like "I accomplished," "I received," or "I have." These phrases direct your mind to focus on the outcome and that's one of the key steps to becoming financially free. Your family financial goals should include the reasons, too - would you like money for college, a nice vacation, etc. In addition, any family financial goals must relate to each other so the family works as a single unit.

• The 'T' stands for goals that are Time based. Make sure your family financial goals have a timely deadline by which you plan to accomplish your goals. Saying 'someday' isn't specific enough.

Shorb also points out that your goals must fit together and not contradict each other. For instance, having two goals of 'saving up enough money by the end of summer to buy a Plasma TV' and 'taking the summer off to travel' contradict each other. In this case, you would only be able to accomplish one. Which is more important to you, travel or TV? So the key is to act S.M.A.R.T.

Learn more about Vince Shorb at www.FreeBy30.com.