Importance Of Financial Goals In Life

It 's not easy to know what your financial goals should be. You can make a handsome salary and still not know where your money should go, or how it needs to get there.

This can lead to a somewhat embarrassing realization: “I’d set financial goals, if I only knew what they should be.”

There’s no need to be embarrassed. Besides not being taught money management in college, some of our parents forgot to show us the ropes, too. But it 's never too late to start learning.

If you don’t know what your goals should be, or how to set them, take heart: Money Under 30 wants to help you get there.

Here are eight goals you can set that will take you from confusion to focus.

Divide your money into “spend, save, donate, and invest”

Susan Beacham, who

If you have a four-digit balance, making minimum payments on a 19 percent APR credit card amounts to a black hole where you throw dough in and nothing gets paid off on the principal. That said, don’t confuse this with a mortgage or student loans, which are arguably sound bets on your future.

Find a financial mentor

Someone who has experienced the financial success you want can usher you along a path you can take — using their journey as a template. What’s more, you have the advantage of learning from the person’s mistakes. They say that “When the student is ready, the master appears,” but don’t be passive. Ask around — and to increase your chances, try zeroing in on someone who loves to mentor.

Start simple

In the 1966 pro football season, the Green Bay Packers won the first Super Bowl by 25 points — and head coach Vince Lombardi’s entire offensive playbook was less than 50 pages (much of it filled with blank templates).

Starting down the path to financial victory can be simple too. If your goal is to invest, start with an easy-as-pie app such as Acorns, which invests your spare change. Budgeting websites are likewise plentiful, and simple goals work especially well with simple

view of everything you’re considering. The advantage here is that the financial advisor or planner wants your business, and will strive to show you their skills and savvy.

Think you can’t trust folks that want to “sell you something”? That’s a common fear with financial advisors — and mostly unfounded. The Paladin Registry can help you find the right professional, as they vet, rate, and report on advisors, all for free.

Summary

If you 're ready to set a financial goal, look through this list and choose one that most appeals to you. Don 't be daunted if you don 't know how you 'll get there — choosing where you 're going is the first, biggest step.

Then, explore our site for resources to get you started. We can help you get out of debt, invest well, or save a bundle when buying a car or a house. Whichever direction you want to go, we can