5 WAYS TO SET FINANCIAL GOALS.

A financial goal is what?

Any strategy you have for managing your money is a financial objective. You can set both short-term and long-term financial objectives, such as saving $1,000 or investing for retirement. Every area of your life should have goals, but having clear financial objectives enables you to put your money where your mouth is.


@amrisonblogspot is here to give you few tips regarding this.


How to Set Financial Goals in 5 Easy Steps



1. Specify your objective.


Too-vague goals are one of the reasons people don't achieve their objectives. I wish to handle money better, you might say. What does that mean to you, though? Reduce the scope!


What if you choose to pay off your debt instead? To concentrate on that particular area of your finances. Let's now discuss how to further deconstruct this goal.


2. . Make your objective quantifiable.


So you want to pay off your debt, okay. Now is the moment to choose a precise amount—something you can quantify to determine whether or not you achieved your goal.

Your ultimate objective should be to be debt-free in full (this is Baby Step 2), but it's a good idea to split that goal down into smaller pieces. You won't feel too defeated before you even begin in this manner.

Therefore, even though you may have a total debt of $30,000, you would like to start by paying off a $15,000 student loan. Hey, that's an attainable objective!


3. . Set a due date for yourself.

Let's get to it: If your goals don't have a deadline, it's quite tempting to put them off. In the words of author Benny Lewis, "There are seven days in a week, and'someday' is not one of them." Don't keep saying someday. You must set a deadline for yourself that is both acceptable and moderately difficult.

Returning to the student loan illustration, when do you hope to achieve your objective? You'll need to pay 500 per month if you want to pay off 6,000 in a year. Is this conceivable but also a little bit unrealistic? Good if so!


4. . Verify that they are your own objectives.

Let's have a brief discussion regarding comparison. It's simple to observe what other people are doing and assume that you ought to follow suit. Do your neighbors have the newest models of vehicles? Does that one gal who posts on Instagram usually go on fancy vacations? Hey, congrats to them! However, it does not follow that you must follow suit.




We are playing a game we can never win when we evaluate ourselves in relation to other people. Therefore, be sure the financial goals you set are appropriate for you. In other words, you shouldn't take out a second mortgage simply because all of your friends are doing it for newly renovated kitchens. Put on your blinders, concentrate on your lane, and run the race in your own direction. And be specific about the reasons behind your objective selection.



5. . Outline your objective.

Did you know that writing down your goals will increase your chances of success? It's true what they say about writing things down helping you focus on the task at hand.

So go ahead and write down your objectives. After that, attach them to your desk, car, or bathroom mirror. To make sure you see them right away when you pick up your phone, type them into the Notes app on your phone, take a screenshot, and set it as your wallpaper. You'll stay motivated and on track if you maintain your goals in plain sight.

We hope this article inspired you.


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By Adegboro Damilola.