What Is FINANCIAL GOAL ?

FINANCIAL GOAL

Financial goals are the priorities and targets you set for how you want to spend and save your money. They aren't one size fits all, because everyone has different priorities. However, if you don't set your financial goals, you'll probably be left wondering where all your money went.

Importance of Setting Goals

Setting financial goals helps you to keep the big picture in mind rather than getting bogged down with day-to-day (or paycheck-to-paycheck) expenses. In addition, it's easier to avoid impulse purchases. For example, if you know that you're saving 1000₹ every paycheck toward Diwali (or other financial goal), it's easier to turn down unneeded things like branded shoes,high price coat or bad expense.

Why We Set Goal

Planning of financial goals gives you an opportunity to decide which ones are most important to you. For example, you probably won't be able to save enough to retire at 50, pay for private college and graduate school for your kids and take a vacation every year. This isn't to say that certain goals are always more important than others. Usually, resolving conflicts between your goals requires examining how you think about money -- and the things that you can buy with it.

Creat you  Goals Now

There's no time like the present to begin setting your financial goals. The further in advance you plan, the less you have to carve out of your budget to pay for it. For example, if you want to buy a ₹60000 Bike in one year, you have to save ,5000 a month. But, if you start saving four years in advance, you only need to find an extra ₹1700 a month. Plus, the longer you have until you reach your goal, the more you can put the power of interest compounding on your side.

Check Your Goal

 It is a important part of  goal setting  because if you constant don't check your going direction than you could be miss guide .So for any goal make a separate fund or make a different account to put you goal sum .you have check and to calculate the  goal and your requirement quarterly basis until you get the goal .




Thanks you for your time and effort.
You will be generate money if you follow the rules.
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