Regardless of where you are in life, you should have a set of financial goals. This list should include both short term and long-term financial goals. By setting attainable goals, following through on them, and following your progress are the keys to financial success. By following these simple steps below, you will identify your financial goals and put yourself in the best position to achieve all of them.
Setting goals greatly increases your likelihood of success. A recent study by Northwestern Mutual shows that since the start of the COVIDS-19 pandemic only 35% of Americans rated themselves as “Financially Secure”, and a whopping 20% rated themselves as “not financially secure”!
If you are like most people, you may not know where to even begin the goal-setting process. The goal-setting process can seem daunting at first, especially in today's busy, stressful modern life, but this guide will help you start your journey towards financial freedom. It’s natural to feel overwhelmed as you begin to think about planning and committing to your financial goals and balancing your budget to actually accomplish them.
It is important that you get in the habit of setting financial goals. Invest the time now to determine what goals you want to achieve in the coming year. Here are five tips for creating financial goals you should consider using for yourself to get your finances on the right track.