• Home
  • About
  • Contact

The Phat Startup

The Ultimate Lifestyle Blog for Entrepreneurs

Blog Ideas That Make Money

With technology turning into a growing human necessity, blogging is rising as one of the best ways to boost your visibility and reach online. It is also a great way to make a great amount of money online, the best part being that you are in charge of everything about it. From deciding where your […]

North Carolina Best Local SEO Services

If you’re running a business in North Carolina, you probably already know how important it is to show up online—especially when your customers are searching locally. But with so many businesses competing for attention, how do you make sure it’s you they find? That’s where tapping into North Carolina’s Best Local SEO services can make […]

  • Blog
  • Blogger Lifestyle
  • Money & Finance
  • Motivation
  • Personal Growth

Money & Finance

How to Achieve Financial Goals and Not to Give Up

Setting a goal and moving toward it helps a person develop. Setting the right goal is the key to success. How to achieve financial goals and not to lose motivation in the process?

Formulate a Goal Using the SMART System and Write It Down

A wish becomes a goal when it’s written down on paper. But that’s not all: you need to sit down and calculate how much time and resources it will take to achieve it.

Before you decide what you want to achieve, adequately assess your capabilities. Analyze your income and expenses for at least a month, or better – for six months. That way you’ll know how much you can set aside each month.

Manage Your Income and Your Expenses so You Can Save More

If you make $10,000 a month but spend $8,000, you are unlikely to set aside a million in a year. Examine how much you spend, how much you earn, and how much you need to save for your dreams.

To find money for a financial goal, you need to:

  • Reduce spending – give up unnecessary purchases so you don’t lose your previous standard of living.
  • Increase income – ask for a raise, monetize a hobby, try to hit a jackpot at nationalcasino.net, create a passive source of Income in the form of pre-recorded online courses.
  • Increase the term of your goal – save for five years instead of a year.

Prioritize

You can have many goals, but there may not be enough money for everything. Examine your wish list, select the most important ones, and turn them into goals. Decide what you will achieve this year, and what you can postpone for later. Maybe the savings period can be extended, and then you can save for several goals at once by reducing the monthly amount of contributions to your dreams.

When you have set your SMART goals, ranked them in importance, analyzed your income and expenses, and learned ways to increase your income and decrease your spending, it is time to take action – go for it.

Turn Hoarding Into a Habit

If the goal is long-term, over time you can lose motivation and forget why you decided to achieve it in the first place. But discipline – an investor’s best friend – will help you.

Once you have calculated how much you need to save to get what you want, the main thing is to save the right amount each month, without lowering it or missing the dates. When you receive your paycheck or money from a client, you must first set aside for the goal – that’s how the “Pay yourself first” rule works. Already then from the received money it’s necessary to pay debts, food, gasoline and other things.

At the beginning of your journey, you’ll probably have a hard time following the strict rules. You’ll want to spend the money on something useless in the here and now. But over time, replenishing your fund for a financial purpose will become a habit.

Break Down One Big Goal Into Several Smaller Ones

It’s important not only to set yourself a goal and calculate it correctly but also to outline the intermediate steps on the way to the finish line. Achieving a small goal is easier than waiting for a big dream to come true. Small victories along the way will help keep you motivated and positive.

Build up a Financial Reserve

To put money towards your dreams even in difficult situations, build up a financial reserve. It will help you stay afloat and follow your savings strategy even if force majeure occurs.

 


« 9 Tips For Staying On Top Of Your Business Finances
safdfs »

About The Phat Startup

The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

Connect With Me

  • Email
  • RSS
  • Twitter
  • YouTube

Twitter Feed

[custom-twitter-feeds]

Blog Ideas That Make Money

North Carolina Best Local SEO Services

How Working with an SEO Agency Early Can Supercharge Your New Business

How Caregivers Can Avoid Burnout and Keep Going

How to Set Up Your Home If You Want to Be an Influencer

So, you’re thinking about stepping into the world of influencing. Maybe you dream of shooting style hauls, wellness tips, kitchen hacks, or just want

4 Tips For Setting And Reaching Your Business’s Big Financial Goals

If you've ever scribbled a goal like “make more money” on a whiteboard, you’re not alone. Most business owners start with that energy, dreaming big

3 Tips for Reducing the Risk of Fraud in Your Business

No business wants to believe it could happen to them, yet you'd be surprised how common fraud is. It can strike any business, regardless of how big or

Search

Copyright © 2025 · The Phat Startup

Copyright © 2025 · Divine Theme on Genesis Framework · WordPress · Log in