Financial Goal Setting for Money Conscious People!
Financial goal setting is one of the most important facets of your life as it will directly relate to all of your other cost based goals you are striving to achieve. If you are money conscious, you should definitely has some established goals for your money.
I hate to say it, but pretty much everything in the world revolves around money. Most of the dreams you have cost money, and if not directly, in an indirect way. Life in general costs money. Without it, you'd have no roof over your head, nothing to eat, and no security for you or your family, not to mention no luxuries at all.
Why is money such a painful subject to talk about? Well, probably because you don't have enough of it and that brings up many arguments and problems of its own. There is no easy fix for money problems short of winning the lottery (which will give you more problems on a different scale).
Financial goal setting isn't going to instantly turn your thiry thousand dollars a year salary into a million dollars. But, several progressive goals, each leading up to the next will get you there in time. The questions are: How fast do you want to get there and what financial vehicles are you going to use to get there?
To become an effective goal setter, you must completely grasp the concept of financial goal setting. Almost all of your goals in your life's plan involve money in some way shape or form. For example, say you want to buy a new family sized car because you are having a child soon. This costs money, of course, but you must decide if you are trading a car in, putting a down payment on the new car, getting a loan, how long the loan will take to pay off, and so on.
There are a lot of variables for just that one goal. Now, do that for everything else.
You must totally understand your finances in order to set all of your associated goals. Therefore, you need to create a budget so you know where every penny is going, in and out. Once you know where all of your money is going, it is easy to set up some financial goals.
You will have goals based on your income as well as your liabilities. You will have goals of saving so much money for emergencies, for some other goal purchases, or for your retirement. There are so many situations that it is impossible to list them all here. You just need to understand how important financial goals are in your life.
Return to Types of Goals from Financial Goal Setting to explore more information about the different categories and types of goals out there and how they truly fit into your life.