Financial goal setting.
Financial goal setting is important, because our finances are an important area of life. Oddly many hold to the belief that “money is the route of all evil.” Have you noticed in the news over the years that when money becomes scarce in a country or for certain groups of people for a time, that society starts to suffer; crime and anti-social behaviour increases and no one is happy. When someone loses all their money quickly they are soon destitute. No one can manage without it, money is not “the route of all evil.” It is a belief about money and how it is used. You could just as easily say that “money is the route to remove evil.” Money given to charity, money given to the cold and hungry, is removing evils from this world and making it a better place, but even so some will always stick wrongly to the idea that “money is the route of all evil.”
When you are setting financial goals start by asking yourself these three questions.
• How much money do I want to make a year?
• How much would I like to have in savings?
• How much do I want for retirement?
(If you have a business, you also should be asking similar questions to these about your business.)
Then when you know the answers to these questions you can set financial goals to match them. Setting financial goals is to set long term goals and that needs to be understood. Your finances will be part of your life for the duration. These lifelong financial goals must not be ignored and it is never too late to set them.
Building wealth; there are two ways in which to build up your savings and both involve living within your budget. Spend less or earn more; better still do both. I know that is easily said and at times we all have to spend money that is not there, but think on that simple line Spend less or earn more; better still do both and you will find it to be sound.
