What Should One Typically Start With When Setting Financial Goals?
Other People Are Reading
-
Set Short-Term Goals
-
If you need money for today, or for next week or next month, keeping a short-term focus as you set financial goals can be helpful. Pick the financial goals you'd like to see met within a year, such as taking a vacation or buying a car. Research to see how much money you will need to meet each goal, then figure out how much you will have to set aside each month to meet the goal by your chosen date.
-
Set Long-Term Goals
-
Long-term financial goals are those that will take two to five years to meet, and might include saving for college or buying a house. Figure out how long it will take to meet each goal and how much you will have to set aside to make your goals happen.
Bottom Line
-
Not all your financial goals may be achievable in the time frames you set yourself, so look at both long- and short-term goals, and prioritize them to make sure you set aside money for what's most important, regardless of how long or how quickly you might meet your goal.
References
- Photo Credit money, money, money image by easaab from Fotolia.com
