Below you will see a great tip of long term money goals
Name your Goals: Many people don’t know how much it would take to reach their goals. So start by make each one spacific and measurable and attach a deadline. For example I want to buy a house within five year then fill in the blanks. Look at housing prices in your ideal area and work backward from the down payment. This give you a number an amount you need to save monthly to fulfill your five year plan. If the monthly saving goal does not seem doable, you may need to look at the variables. Do your really need a house that size? Is the neighborhood critical? Adjust for reality. You may need to add a year and subtract a bedroom.
Tailor and Target Savings: Most of us are saving for a few things at once forexample retirement, college, emergencies. Some saving account allow you to create goal buckets which make it easier to automatically put money towards each priority. Saving for emergencies is trickly because it’s so vague. I have clients think through emergency situations to make it more concrete. The obvious one is loss of a job. How much money would you need per month to feel comfortable. Keeping in mind that emergenc spending is not the same as regular spending? You will eliminate frills like dining out for example. The rule you may have to heard to set aside three month’s salary is not necessarily right for everyone.
Do a values exercise: Ask yourself what really matters to you. Understanding what you most want out of life helps you create financial goals. You are motivated to stick with and follow through on what it takes to reach them. Typically people finds that they are overspending in areas that are not even important to them. Let’s say you discover that you value traveling and time with friends most highly. That’s where your money should go. Maybe you are paying for convenience. Ordering luch at work and eating alone at your desk when you would be happier long term if you brought a bag lunch and put the money you saved toward a trip with pals.
Assert Yourself: Get in the habit of asking for what you want. Instead of telling friends. I don’t care where we go for dinner, offer an idea that makes financial sense for you. People often worry, needlessly that they will be seen as lame for making smart choices. Get over that you can practice assertiveness in other arenas at work and when dealing with merchants.
Personalize your Approach to Debt: The issue of whether to prioritize saving or paying down deby is an individual one. Killing high interest debt as soon as possible of course make sense. But for some people erasing the smallest debts first helps build momentum. And there’s an emotional component to certain debt. You migh find it easier to reach goals when you get the people close to you involved if you and your friend tackle debts and share goals and accomplishments it can be like having a workout partner to keep you motivated and accountable.