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3 Achievable Financial Goals to Set

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Setting practical financial goals allows us to climb the ladder of success without ignoring where we are. By recognizing that our finances may not be where we want them to be, but that these circumstances are temporary, we can then make improvements.

If you need financial guidance, read on to learn about three achievable financial goals that can help you jumpstart your financial future.

1. Start Where You Are

To progress financially, you need to accept your current financial position. If you try to set a financial goal that is beyond your current means, this will only end up backfiring.

There’s no shame in your financial position. Whether you need to get a job quickly, are paying off debt, or are establishing retirement plan solutions, just know that your current position is not forever.

Once you’ve come to terms with your current income and annual earnings, write these numbers down. From here, decide how you can work towards a savings of 10%, which is the golden standard. If 10% is too steep of an ask right now, work with where you are. As long as you are regularly contributing to your savings, you are building your wealth.

Start Where You Are


2. Take Things Further

Once you’ve gotten into a habit of regularly contributing to your savings, the next objective is to set aside more money using passive means. You might think that only rich people have the benefit of earning passive income, but this is not true. In reality, passive income is available for most of us if we know where to look.

For instance, do you need those monthly subscriptions for shows you never watch, or can you give those up and save what you would typically spend without even thinking about it? Are you paying attention to the brands you select in order to save on groceries or do you just grab what you need and go?

These are some easy ways to begin saving more money without putting in much effort. If you’re a business owner, you might even consider limiting your startup staffing to a few key players to save.

3. Change Your Habits

By now, you’ve become much more mindful about the amount of money you’re spending and where your spending is coming from. Although you have likely made significant improvements, there is still more work to be done.

Our daily spending habits often cost us more than we realize, so finding ways to reduce or ideally eliminate those daily habits that are unnecessary will pay off in your savings. How often do you spend money on drinks? Do you need that gym membership or can you start running in your neighborhood instead?

If you feel that you absolutely cannot give up a spending habit, then commit to making more money so you can afford it without depleting your savings. Take up a side hustle like general contracting or babysitting.

Not all habits are poor investments into our health or personal enjoyment, but that does not mean they are critical. We can find ways to benefit from our self-care spending habits without spending as much.

Exercising outside is free, and if you limit the number of drinks you purchase throughout the week, you’ll probably appreciate those occasional drinks a lot more when you have them.

The Bottom Line

The three goals presented in this article are achievable, beginner goals that you can set if you need to get ahead of debt or learn how to work on establishing financial freedom. You can apply your personal finances to these general concepts and gradually start saving more money.

 Stay consistent and look out for ways to save!

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