Financial goals provide something tangible to work towards and to measure your progress against. Some people have simple goals – to trim spending so they have money left at the end of the month, for instance. Others have more specific long-term goals – to own a home, retire early or take a vacation.

While most people have goals, very few actually take the time to write them down. We recommend it. Writing your goals down after taking the time to carefully consider them will help to make them more real. It will help to translate them from things you think or dream about, into tangible goals you work towards and eventually achieve.

Whatever your goal, a plan will help you get there.

Start by thinking about your goals for the short, immediate and long term. Look beyond your monthly bills and maxed-out credit cards and set goals that will allow you to see there is light at the end of the tunnel.

Consider your family’s goals, now and in the future. Does someone need braces? Do you or your spouse want to go back to school? Break your goals down into categories: short, intermediate and long term.

Short-term goals are things that can be done soon within the next few weeks or months. Buying a new mattress for instance. Intermediate term goals are those you hope to accomplish in one to five years. Goals like buying a car or paying off a loan. Long-term goals are those you hope to achieve in five to ten years such as buying a house or retiring early.

Discuss the goals as a family. Does the family want to install a pool or would they rather save for a family vacation? Make sure your goals are realistic and specific. If your goal is to take a family vacation, state how much the family needs to save and by when. Consider having your kids set their own personal financial goals – to buy a new bike with their allowance money, for instance. It will help to establish good financial habits early on.

Including your children in the process and having them “buy in” to goal setting will help down the road when you say no to purchases that will not help you achieve goals set as a family. Posting goals somewhere prominent like the fridge may help keep the family on track and motivated. Consider tracking the family’s progress so everyone can see that progress is, or is not, being made.