Financial goals are the personal, big-picture objectives you set for how you’ll save and spend money. They can be things you hope to achieve in the near future or down the road. It’s often easier to reach your goals when you’ve identified them and allocated your money accordingly.
In short, financial goals are simply defined as the desired results from one’s efforts to achieve personal economic satisfaction.
Examples of Financial Goals
As you begin to set your goals, think about what’s important to you. You come to discover you have many goals and can often change over time.
Examples of financial goals include:
- Saving for an emergency fund
- Paying off debt
- Money for retirement
- Buying a home
- Saving for a vacation
- Starting a business.
- Reaching financial independence