The Importance of Financial Goals

Setting financial goals is a fundamental step in achieving financial success. Goals provide direction and motivation, helping individuals focus their efforts on what matters most.

Types of Financial Goals

• Short-term Goals: These are goals that can be achieved within a year, such as saving for a vacation.
• Medium-term Goals: Goals that take one to five years to achieve, like buying a car.
• Long-term Goals: These goals require more than five years to achieve, such as saving for retirement.

By clearly defining financial goals, individuals can create actionable plans to reach them.