There are three types of financial goals: short-term, intermediate, and long-term. Once you meet your short-term financial goals, you will be set up for success with your intermediate goals. Any long-term goals obviously take time, so any short-term or intermediate goals that are achieved will help towards the larger long-term goal. Schedule a meeting with your financial planner Orlando to assess and execute a financial goals strategy. Talk with them about what you see as your short, intermediate and long-term––retirement––goals. If you need some motivation or inspiration, here are a few excellent and achievable financial goals you could focus on.
Live With Less
Some people call it being cheap, others call it being frugal, but either way, the minimalist style is trending for all the right reasons. Having a room, apartment or house that is without clutter, soothes the soul. It’s also much better for your budget. Sell some of your things, re-organize your place, and stop the purchase cycle. You’ll be happier when you’re home from work with your clean and organized abode, and even more excited by the amount of money still in your checking account.
There are money saving opportunities when you bundle multiple insurance policies together. So yes, you’re spending money, but you’re doing it efficiently and you’re doing it with purpose. Home, auto, health, life; buying into these safety nets are worthwhile. Any type of emergency that arises will undoubtedly blow your budget without insurance, so shop around for the best deal and best rates, but don’t delay in getting insured and protecting yourself.
Reduce Consumer Debt
Aside from your mortgage, reducing with the ultimate goal of eliminating consumer debt is a great financial goal. It requires patience, and poise, and a good plan. But it’s very attainable. Paying off your mortgage is a goal unto itself, but isn’t something that can be achieved in a calendar year, whereas reducing your credit card debt can be. If you need a place to start, begin with only using cash wherever possible.
If it’s within your budget; give. Give to a local charity, or a cause you believe in. Help someone or something. If you donate enough, it could be reflected on your taxes, but even if it’s a small donation every once in a great while, you’ll feel great about it and good things will come from it.
Life is about balance and not just all about the money. These goals are meant to help give your life balance and less financial worry. They’re achievable and will leave you in a better place than where you started, guaranteed. If you need more expert guidance, just contact your financial advisor.