Setting
Your Financial Goal
In
order to achieve your financial goal, a certain amount of discipline
is required along with some changes in your lifestyle as you
set these goals.
A
short-term financial goal are goals that you set and
achieve within one month to one year. These short term financial
goals can include a family vacation, birthday and holiday gifts,
purchasing a TV or even paying off a credit card or other bills.
A
mid-term financial goal are goals that you try to accomplish
within one to five years. This can be in the form of purchasing
a new automobile, paying off all your credit cards or even remodeling
your home.
A
long-term financial goal are goals
that will take five years and longer to achieve. Examples of
long term goals includes a college education fund, buying a
house and retirement savings.
Tips
to achieving your Financial goal:
1. Write down all your short-term, mid-term and long-term financial
goals.
2.
Write down the dates that you set for attaining your goals.
3.
Be realistic with your goals.
4.
Be flexible as sometimes it is necessary to adjust your goals
and strategies.
5.
Periodically review your goals and check your progress.
6.
Stick to the spending plan that you
budgeted for.
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