Goal Planning
What Is a Financial Goal Planning?
A financial goal is a target to aim for when managing your money. It can involve saving, spending, earning or even investing. Creating a list of financial goals is vital to creating a budget. When you have a clear picture of what you’re aiming for, working towards your target is easy. That means that your goals should be measurable, specific and time oriented.
Financial Goals Tips:
Do you set financial goals for yourself? What are your goals for the next 1 year? How about 3 years from now? 5 years? 10 years? What are your aspirations and financial responsibilities in life? Goal Management is the first step in successful goal achievement. It marks your first point toward success. It’s when you switch from a passive state to being involved in life.When you set goals, you think ahead, after which you can create your action plan. Even if things don’t go according to plan, that’s okay as you can review, adjust your plans, and then steer your life toward your vision. Once you know your financial standing, the next logical step is goal setting to remedy the weak spots in your financial health. The long journey of goal Management starts with a step. The first step is to identify your goals. The next would be to break these goals down into measurable goals- short term (less than 1 year), medium term (1 to 3 years) and long term (5 years and more).
