Through weekend homework, we’ve already determined where we financially stand. Now we need to figure out where we want to go. Time to set some goals.

1. List the things you want in life that require financial resources (ex: plasma TV, baby, vacation to France, car, education, retirement). Be specific’don’t write “a lot of money;” write “$1,000,000.” Write them down.

2. Ask yourself if these goals seem realistic. Will you really be flying to the moon in space tourism? Also determine if the goals are important to your wellbeing.

3. Break your goals into three categories: short-term (less than 5 years), medium-term (5-10 years), and long-term (more than 10 years).

4. Within each category, organize the goals by importance. You’d like a plasma TV and a new baby in the next five years. Which do you rank as more important?

5. Develop a plan. What types of resources do you need to reach your goals? Goals like retirement in 12 years require efforts of financial savings today.

According to a University of Tennessee study, less than 5% of people have defined, clear goals. Without laying them out, goals become challenging to achieve. When you’re reading a book, you place a bookmark on the page you last read. It’s easy to see what you’ve read and where you still have to go. Accomplishing goals works the same way; you’ll find better success in a laid out plan.