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Financial planning is simple but does require one’s time and smart efforts. Like for every other dream and ambition how we set a goal likewise it is equally important to set a financial goal to achieve the short term and long term benefits of it.
So how does one intentionally set a financial goal?
Specific: What exactly do you want and how much do you want out of it?
Measurable: Keeping measurable financial goals helps in tracking the progress, for example, if you are wanting to save a certain amount within a stipulated period then you will keep a target of at least saving a particular amount on a daily or monthly basis.
Attainable: Asking yourself if your goal is reasonable and attainable and thinking of solutions that could help you tackle the roadblocks and have a backup plan in managing your finances.
Realistic: Maintaining a realistic spending plan to help you monitor your expenses which also helps in following appropriate methods of saving.
Timely: Keeping a timeframe i.e. setting a deadline for your financial goals, telling yourself to achieve it which will help you keep focus.
Making yourself financially secure with careful planning to cover up expenses, emergencies, and retirement without the concern of not having enough also becomes a very important component of creating financial goals. So what are you waiting for? Take your book and a pen to start planning out your financial goals today and secure a better future for yourself and your dear ones.
“Financial literacy not only involves the ability to count your money, but it also tests your ability to evaluate the cost and benefit associated with each decision you make.”
Hashtags: #financialgoals #dhangyan #financialliteracy #valueofmoney #SMARTgoals #financialsecurity
Related articles for your further reading:
https://www.financialexpress.com/money/why-financial-literacy-is-important-for-children/2334907/
https://nomoredebts.org/blog/budgeting-saving/what-does-it-mean-to-set-smart-financial-goals
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