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Financial goals are savings, investment or spending targets you hope to achieve over a set period of time. The stage of life you’re in usually determines what type of goals you wish to achieve.
For example, if you’re in college, it may be an easy short-term goal like saving for a new pair of shoes or something more challenging like saving for a car.
On the other hand, a person with a growing family would have a long-term goal of going from renting a home to owning one. Saving for a child’s college education and saving for your own retirement are other popular financial goals.
Here are six steps to setting financial goals.
The best way to reach your financial goals is by making a plan that prioritizes your goals.
When you examine your own goals, you’ll discover that some are broad and far-reaching, while others are narrow in scope. Your goals can be separated into three categories of time:
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