Financial Goals

Why Financial Goals Are Important

Well, to start with…

Short-term goals should take no more than about one year to achieve. For example, you may want to pay off the $2,000 balance on your credit card, or cut your household spending by $100 a month.

Medium-term goals should be achievable within one to five years. A typical example would be planning to save $20,000 over five years to make a down payment on a house.

Long-term goals will take more than five years to reach. These include saving for your retirement or for a child’s education.

Financial Goal Setting 1

Financial Goal Setting 2