🎯 Setting Financial Goals
Whether it's buying a car, moving into your first apartment, traveling, or starting a business, having clear financial goals helps you stay focused. Break big goals into smaller milestones and create a realistic timeline. Write them down and review regularly!
- •Short-term goals (1-2 years): Emergency fund, vacation, small purchases
- •Medium-term goals (3-5 years): Car, down payment, education
- •Long-term goals (5+ years): House, business, retirement
- •Make goals SMART: Specific, Measurable, Achievable, Relevant, Time-bound
📊 Creating Your Plan
Calculate how much you need to save monthly to reach each goal. Prioritize goals - some are more urgent than others. Automate savings when possible so you pay yourself first. Track progress monthly and adjust as your situation changes. Celebrate milestones along the way!
- •Calculate monthly savings needed for each goal
- •Prioritize: Emergency fund first, then other goals
- •Automate transfers to savings accounts
- •Review and adjust goals quarterly
- •Don't forget to enjoy life - balance saving with living