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Why Financial Goals Are Important
Why Financial Goals Are Important
https://www.schoolofequity.in/finanicialgoal/
Even the most cautious person cannot predict every disaster, as the world discovered during the pandemic and as many families discover each month. Thinking ahead allows you to work through potential scenarios and plan for them as best you can. This should be a continuous process so that you can adjust your life and goals in response to the inevitable changes.
If you don't have a clear financial goal, you're more likely to spend more than you should. You will be short on cash when you need money for unforeseen bills, not to mention when you want to retire. You may become trapped in a vicious cycle of credit card debt, making you more vulnerable than necessary to dealing with some of life's most difficult challenges.
https://www.schoolofequity.in/finanicialgoal/
Short-Term Financial
https://www.schoolofequity.in/finanicialgoal/
Mid-Term/Long-Term Financial Objectives-
- Purchase Life Insurance for yourself and your family.
- If you have a student loan, make it a priority to pay it off first.
- Pay yourself first, then think about your dreams.
- Always budget for and plan for your retirement.
https://www.schoolofequity.in/finanicialgoal/
In conclusion
You're unlikely to make perfect, linear progress toward any of your objectives, but what
matters is that you're consistent rather than perfect. Don't be too hard on yourself if you
have an unexpected car repair or medical bill one month and are unable to contribute to
your emergency fund but must withdraw money from it; that's why the fund exists.
Simply return to your original course as soon as possible.
That is the beauty of annual financial planning: you can review and update your goals as
life's ups and downs come and go, as well as track your progress toward them.
Throughout the process, you will realise that both the small things you do on a daily and
monthly basis, as well as the big things you do every year and over decades, will help you
achieve your financial goals.
https://www.schoolofequity.in/finanicialgoal/