crop man getting dollars from wallet

Ways to set financial goals and achieve them.


In today’s world, money is very important as it determines the progress of individuals, businesses, and even the nation at large. However, when dealing with money, it is crucial to know how to manage it; which brings us to setting financial goals. Financial goals are achievements set for the future measured on a monetary scale.

Financial goals can be seen as blueprints to achieving greater things with money. Although many understand the importance, however, they are still not proficient at setting them and actually achieving them.

How to go about your 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:

  1. Short-term financial goals take under one year to achieve. Examples may include taking a vacation, buying a new refrigerator or paying off a specific debt.
  2. Mid-term financial goals can’t be achieved right away but shouldn’t take too many years to accomplish. Examples may include purchasing a car, finishing a degree or certification, or paying off your debts.
  3. Long-term financial goals (over five years) may take several years to accomplish and, as a result, require longer commitments and often more money. Examples might include buying a home, saving for a child’s college education, or a comfortable retirement.

The goal-setting process involves deciding what goals you intend to reach; estimating the amount of money needed and other resources required; and planning how long you expect to take to reach each of your goals.

Setting your financial goals.

To help you achieve your goals, plan for the big things, make an estimate of how much you need, spread it over a period of months/weeks/years and keep in an account where you cannot access it until the set date.


Putting money into profitable investments that you understand properly will help guard your finances from unnecessary losses and also multiply your purse.

Budgeting / planning expenditure.

Planning your expenditure or budgeting means allocating money to certain needs and expenses. If you are to actually achieve your financial goals, you must plan your expenses, make a budget and stick to it, from food, to clothing, to transport and even a gift for a friend’s birthday, they are all expenses that should be planned while you make a budget.

Settlement of debts.

Accumulation of debts can kill your financial goals in the long-run so it’s advisable that you protect yourself from debts and if you have pending ones reach an agreement with your creditors on certain amount you will be paying monthly/weekly/daily/yearly as this will help you focus and move on with other aspects of your life.

Check costs.

As you make plans, make sure you are spending the least possible amount in cases where you can.