I am not a professional but I just had to dot this down.
1. What is your motivation for setting your financial goals. This will help form an objective
Think of it as not what you want to do, but why you want to do it. Attaching a reason to your goal can put them in perspective and fuel motivation. For example: I want to accumulate xyz amount to pay off my students loan.
2. Examine your situation
Look at where you are financially and Start assessing your income, income tax situation, budget and net worth. This will help determine goals and prioritization of those goals.
3. Think ‘SMART’
Quentara Costa says a strong basis for setting any goal is to make sure it’s “SMART”: Ensure your goals are Specific, Measurable, Achievable, Realistic and Time-bound. These can be adjusted but do that only under circumstances beyond your control. Example, Maybe you’re not on track to save enough to purchase the car in six months. Push the deadline back to conveniently suit your situation.
4. Write them down
After you’ve identified and vetted your goals, mark them down. This can keep objectives clear, organized and tangible. Fill out a worksheet or spreadsheet, or use a notepad (prefer Excel but have a number of them on my phones notepad since I spend more time with the phone. Check in periodically and track your progress. Once you’ve crossed off one goal, move on to the next.
5. Act on it
Start working towards achieving the set goals. Achieving a goal is like a reward and you have to enjoy it. When you are done with a goal, you move to the next.
@KarenM, I hope I make sense.