Step 3: Educate yourself and do your research. Read Money magazine or a book about investing, or surf the Internet's investment web sites. Do not be afraid of the stock market.

Yes, there is a potential for loss, but if you do your research and get a trustworthy broker, you can ensure your financial future. Just remember not to put all of your eggs in one basket.

Diversify your portfolio. With a little effort you can learn enough to make educated decisions that will increase your net worth many times over. Then identify small, measurable steps you can take to achieve these goals, and put this action plan to work.

Step 4: Evaluate your progress as often as needed. Review your progress monthly, quarterly, or at any other interval you feel comfortable with, but at least semi-annually, to determine if your program is working.

If you're not making a satisfactory amount of progress on a particular goal, re-evaluate your approach and make changes as necessary.

There are no hard and fast rules for implementing a financial plan. The important thing is to at least do something as opposed to nothing, and to start NOW.

Sometimes when people write down their goals, they discover that some of the goals are too broad in meaning and nearly impossible to reach, while others may seem smaller in scope and easier to achieve. It is okay to dare to dream about riches, but be realistic about what you can actually do. A good idea is to break your goals down into three separate categories of time.

One more thing to remember: by placing a time frame on your goals you are motivating yourself to get started and helping to allow you the chance to succeed. Just remember that you can adjust the time frame whenever you want to.

Long-term goals (over 5 years) are those things that won't happen overnight, no matter how hard you work to achieve them.

They make take a long time to accomplish (hence the reason they are called long term goals), so give yourself a reasonable amount of time, that are based on your best estimates of what it will take to achieve them.

Examples of long-term goals might include college education for a child, retirement plan or purchasing a home. Whatever the case, these goals generally require longer commitments and often more money in the end.

Intermediate-term goals (1-5 years) are the type of goals that can't be executed overnight but might not take many years to accomplish. Examples might include purchasing/replacing a car, getting an education or certification, or paying off your debts like credit cards etc. (depending on the amount).

Short-term goals (within one year) generally take one year or less to achieve, based on the date the task is needed, the total estimated cost, and the required savings.

What are your goals? To find out, you need to make up a list, decide which timeline your goal fits into, detail the steps necessary to achieve your goals, then take action toward reaching those goals. It’s that simple.

You might be wondering where to start when deciding how to go about to start your financial goals. These are some basic tips to help you in making the best choices for you.