FIND OUT HOW YOU CAN SAVE FOR THE FUTURE
FIND OUT HOW YOU CAN SAVE FOR THE FUTURE
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Goal-setting is a visioning exercise that involves accurately setting your 'destination' (North) where you are going, starting from your current financial state. It will require initiative, determination and a lot of flexibility, precisely to adjust your intentions along the way and recalibrate your direction in line with the changing realities month by month, year by year.
Setting financial goals is also an exercise in educating personal willpower to save in an intelligent, organized and practical way for the future.
You should always know where you are and where you are going. Create a map with simple, well-defined targets, each with a deadline by which each can be reached.
When you first create a plan with goals to achieve, they may seem far away. All the details of achieving it seem unclear, and the number of decisions and choices can seem overwhelming.
However, if you take things one step at a time, working consistently towards your goals, they become clearer and clearer, and the associated decisions and choices will become fewer and easier to tackle.
Practical finance means having a well-planned strategy for achieving your goals and then putting it into action.
Before you set your financial goals, it may be a good idea to set your financial priorities and future aspirations.
Before you set your financial goals, it may be a good idea to set your financial priorities and future aspirations.
For those of you who don't save at all, a very appropriate goal would be to reduce your spending in order to put money aside. But in doing so, I suggest setting very clear numbers. It's important to decide how much to save each month and eventually set a new goal to start investing. By practicing this kind of behavior, you will visualize the future, you will start to think long term, and your actions will be aimed at improving, maintaining or increasing your standard of living, throughout your life, including after retirement age.
By all appearances, those who make the effort to manage their money well, or who know what their financial expectations are, can achieve the financial success they have long dreamed of. Once you set your goals, you'll also identify the easiest ways to make them a reality.
Therefore, achieving objectives requires immediate action, rigorous discipline, consistent evaluation of intermediate results, analyzing them and adjusting accordingly to stay on course.
When planning your goals, always take into account emergencies or unforeseen situations that may arise, as well as the value your money has today/will have in the future.
Theoretically, at this point, you should know your financial health. At the same time, you are looking to increase your Personal Net Worth and in addition, you have an idea of the best tactics for you to use to achieve your goals. The moment you reach these goals you will notice that you can save much easier, because you start to change your financial behavior, and this will make your future actions easier!
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