Without a doubt, having personal goals keeps your enthusiasm up.

Using a map for our holiday

It is usual for us to consult a map when we go on holiday, and yet, sadly, for holiday of life, we don't consider consulting a map for this important journey. And when we don't reach our destination, we become frustrated and annoyed. Yet, when we go on holiday, without a map, and we get lost we similarly get annoyed. And yet, this something we don't repeatedly do. Your goals, and especially your goal path, is your map for your life.

Having goals, or at very least, a goal, will enable you to know where you're going in life. Goals do give us direction.

Thomas Edison is well-known for saying he didn't fail, but found 10 000 ways it didn't work. He had thousands of attempts over many years to invent electric light bulb, but he knew exactly what he wanted, and his goal kept him going until he achieved it.

Oprah Winfrey was an abused child who was determined to make a better life for herself. Michelle Kwan had a goal to be best skater in world.

If you want proof that goal setting works, and is valuable in your life, think of musicians. They are one of best examples of having determination in not only setting, but also achieving their goals. Athletes don't become record holders by chance - it is only through effective goal setting. Top sales people work consciously at their goals, and as result become star performers. No-one becomes an astronaut by accident.

Every person who becomes successful in whatever field or area they choose, followed a goal path - a map to achieve their success.

Role of an effective goal setting system

If you have a dream, and want to achieve something better in life, having a goal can bring you success.

An effective goal setting system must get you on your road to success. It should also give you tools to enable you to gain confidence in reaching your goal. There are many books and programs available that can help you set your goal. It is my belief that anyone can set a goal, but important thing is to reach your goal.

An effective goal setting system should be a blueprint, and enable you to determine where you want to go with your life, and be an aid to keeping you on your goal path.

Having a goal, success is possible. Without goals, success is rarely possible - whatever area in your life.

Some ideas to control or avoid debt are:

·Watch credit card spending. ·Check interest rates, and negotiate where possible. ·Pay debt off as quickly as possible; add a little extra to payment, if possible. ·Raise your awareness of "luxury debt". ·Re-consider designer labels and name brands. ·Watch small expenses, they all add up.

3. Invest something, regularly

The basic means of saving is a standard saving account. By starting with this, it can develop discipline of saving, and when you see your savings grow, it will inspire you to go onto bigger savings and investments.

For many of us, discipline of saving regularly is difficult, especially at start. This can be overcome by arranging automatic savings, that is, you can arrange with your bank that a fixed amount be deducted by debit order, and placed into your saving account. As your savings grow, you will find your discipline grows, and you become more motivated to save.

Investing your money has more benefits than spending. By investing, your money grows, and you are able to afford luxuries of life, without going into debt. Investigate and research investment options, and what interest rates are offered. Watching your money grow is a lot more fun than paying off debts. Start today.

4. Funds for emergencies

Unexpected expenses are a part of life, and when these occur, you will be in a better position if you are prepared for it. You know how it goes, something packs up, and must be repaired: car repairs, household appliances, or veterinary costs. In this case, "cash is king". Because you find yourself in an emergency, you can usually negotiate a better price when paying cash. Otherwise you are at mercy of supplier, when charging it to credit.

Savings can be used for these emergency costs. It is still better than debt, especially when considering eventual cost, with interest.

5. Nothing like compound interest

This is amazing feature of money. You can see your money double, or even triple, thanks to compound interest. This is where you get your money working for you, when you get paid interest on interest. It is really a great invention, and one of best ways to grow your money.

An example of compound interest:

$100 invested @ 5% = $105 $105 re-invested @ 5% = $110.25 $110.25 re-invested @ 5% = $115.76

Again, do your research, and find best interest rates.

Nothing magical about money

It is a sad reality, but many of us want to walk before we can crawl. I cannot remember who said it, but it is very true: "a penny saved today, is worth two tomorrow". There are basic realities in reaching your money goals, and first is: set a goal and work towards it.

There are a variety of financial tools available to assist you with your money goals. This article discussed five basic tools...

·Set a realistic budget ·Stay away from debt ·Invest something regularly ·Keep funds for emergencies ·Nothing works like compound interest

Follow these five secrets and you will reach your money goals.