Financial Goal Setting

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Financial goal setting is when you have objectives that you want to achieve in your finances/with your money. Common financial goals include being able to retire, generational wealth, hitting your critical mass, saving up for a home or a car, so on and so forth. Having goals for your money is valuable when you want to accomplish something. They are also an expression of what matters to you. Saving money and putting it aside to be able to achieve or acquire something personally satisfying demonstrates grit, commitment, motivation, and perseverance. A financial goal isn’t mandatory, but it can help you steer the proverbial ship of your life. It can give you something to aim for, strive for, and be ambitious about. 

Just like any other goal you set; a financial goal should be SMART. A SMART goal is one that is Specific, Measurable, Achievable, Relevant, and Time-Bound. Approaching your goals strategically will make them more attainable. You are 42% more likely to hit your goals if you write them down. Start writing down your financial goals. Do what you have to do to make them tangible for you. Some people think goals are arbitrary and or are meant more to motivate you than to be accomplished. I don’t buy that. Don’t set a goal that you don’t want or are not actually willing to pursue. Motivation is fleeting, determination is withstanding. Set financial goals that can withstand setbacks.