By Cheryl Sperling
Setting Your Personal Financial Goals.
All of us is different. We have our own priorities, our own wants and likes, our own circumstances, and our own preferences. That's why our personal financial goals could be different with another and our way of reaching those goals varies as well. With these in my mind, we have to set our goals based on how we want to achieve our goal or the style we will employ, as only through this that we will likely work on it and thus succeed in reaching that goal.
Factors To Consider.
1. What is your priority?
First of all, you need to identify what is the most important thing
for you. Is your goal to save up for your child's college education? Is it for having or building your dream house? Is it for a family vacation abroad? or to Disneyland? Or to Europe? Or is it for a comfortable retirement for you and your spouse? Your financial goals will be based on what you really want and what you value most. There is no right or wrong answer ... everyone else has his own. After answering these questions, then you are ready to start planning for your financial goal.
2. How much do you need to accomplish your Goal?
Now that you have identified what you will need your money for, then its time to figure out how much you need in order to accomplish that goal. If its for your child's college education, then you have to forecast how much its gonna cost by the time your child goes to college. There are financial calculators available online also but you can have an estimate based on the prevailing tuition fees at present. This will hold true to your goal of acquiring your dream house or for your dream vacation. Once you know the estimate of how much you need for your particular goal, then you can start planning how much to save each month so you can reach your goal.
3. Where will I take money for this particular goal?
Now that we know, what we want to save on, and how much we need for this particular goal, then its time to decide where to take the money for this purpose. You can fund it from: 1)your salary income, 2) you can save for it by cutting your expenses (budgeting helps), or 3) or you can earn additional income, maybe thru part time job. You should try to find ways to earn passive income. (In our free seminars, we are teaching about how to earn multiple passive income.) Learn how money works, for you to earn extra income.
"In the end, setting financial goals that work for you requires some planning. Decide what you want to do, and then make a plan to achieve your dreams. If you are working for something that's important to you, and if you have a plan of action, you will be more likely to succeed."Jeremy Vohwinkle
Setting Your Personal Financial Goals.
All of us is different. We have our own priorities, our own wants and likes, our own circumstances, and our own preferences. That's why our personal financial goals could be different with another and our way of reaching those goals varies as well. With these in my mind, we have to set our goals based on how we want to achieve our goal or the style we will employ, as only through this that we will likely work on it and thus succeed in reaching that goal.
Factors To Consider.
1. What is your priority?
First of all, you need to identify what is the most important thing
for you. Is your goal to save up for your child's college education? Is it for having or building your dream house? Is it for a family vacation abroad? or to Disneyland? Or to Europe? Or is it for a comfortable retirement for you and your spouse? Your financial goals will be based on what you really want and what you value most. There is no right or wrong answer ... everyone else has his own. After answering these questions, then you are ready to start planning for your financial goal.
2. How much do you need to accomplish your Goal?
Now that you have identified what you will need your money for, then its time to figure out how much you need in order to accomplish that goal. If its for your child's college education, then you have to forecast how much its gonna cost by the time your child goes to college. There are financial calculators available online also but you can have an estimate based on the prevailing tuition fees at present. This will hold true to your goal of acquiring your dream house or for your dream vacation. Once you know the estimate of how much you need for your particular goal, then you can start planning how much to save each month so you can reach your goal.
3. Where will I take money for this particular goal?
Now that we know, what we want to save on, and how much we need for this particular goal, then its time to decide where to take the money for this purpose. You can fund it from: 1)your salary income, 2) you can save for it by cutting your expenses (budgeting helps), or 3) or you can earn additional income, maybe thru part time job. You should try to find ways to earn passive income. (In our free seminars, we are teaching about how to earn multiple passive income.) Learn how money works, for you to earn extra income.
"In the end, setting financial goals that work for you requires some planning. Decide what you want to do, and then make a plan to achieve your dreams. If you are working for something that's important to you, and if you have a plan of action, you will be more likely to succeed."Jeremy Vohwinkle
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