This is post #3 in my series on financial abundance. In my last two posts, we have evaluated the vehicle(s) that we are using to create wealth and we have examined our sources of information about creating wealth.

About eight years ago I decided that I wanted to take my family on a trip to Puerto Rico. I was so excited as I began to plan the trip, plotting all of our hotels and “must see’s”. I spent hours each day searching for the best prices on flights, hotels, rental car, tourist attractions, etc. I looked at maps of the island and planned out our routes so that we would make it all the way around the island, seeing all of the sights that we “needed” to see.  This is nothing odd or uncommon, really. Unfortunately, most people spend this kind of time planning their vacations, weddings, parties, holiday gatherings, etc., but not as many people spend this kind of time planning their pathway to success or wealth.

I am responsible for my financial success and I take good care of my money by showing the universe that I can manage it well.

As this year is coming to a close and you begin thinking about your goals for 2011, make sure you spend time on your financial goals. The difference between financial success and financial failure is planning. Sit down (with your spouse if you’re married) and discuss your vision and dreams. This is your “financial blueprint” or “road map”. Ask yourself the following:

What are my financial dreams/goals? For some, this might be that they want to have a surplus each month instead of a shortfall. You might want to save or invest a certain amount, purchase a different car this year, put a down payment on a home, travel, pay for your child’s education, etc. Some of these things will obviously be long-term dreams/goals. Don’t limit yourself here. Think big!

Why do I want these things? If you are not crystal clear on why you want to achieve your financial goals, you will not take the necessary steps to do so. Make sure that your reasons truly motivate you and will continue to do so. Ask yourself if you will be willing to pursue your goals even when times get difficult. If you plan for a budget, will you be motivated to stick to it? If your reason is compelling then the answer is yes. What is the difference between someone who is successful and someone who is not? Conviction, consistency and follow through!

Am I on target to be able to reach some of my goals? When you create your financial plan, you might find that you have a shortfall and that your current financial situation will not permit you to reach your goals in the short-term or in the long-term. The three options are to lower some of your goals (i.e. buy a less expensive car, save less, etc.), eliminate some of your goals, or create a plan to address the shortfall. Calculate how much of a shortfall you have and then get creative about how you might be able to compensate (I will address this in further detail in my next post). Begin to keep a detailed spending log. You can do this with a spreadsheet, a notebook, or a computer program such as Quicken or Quickbooks. This is an excellent way to see exactly where your money is going and where you can redirect money toward your goals.

Am I dis-empowering or undervaluing myself? Pay attention to your self-talk about money. Are you telling yourself that you can’t or shouldn’t make more money? Are you giving away too much of your time or efforts for too little money? What is your conditioning about money? What did your parents tell you when you were a child (i.e. “Money doesn’t grow on trees”, “It takes money to make money”, “Money is the root of all evil”). Is money a sensitive subject at your house? Really spend some time on this step. Most of us don’t realize how we are negatively conditioned about money.

People with goals succeed because they know where they are going and they have a detailed plan on how to get there!

Tanya Mundo is a Personal and Professional Development Coach who helps others to achieve financial freedom through entrepreneurship and lifestyle design through her private coaching practice, Efflorescence Coaching & Consulting.

Connect with Tanya online!