Last Updated on February 23, 2021
2. Think about short-, mid- and long-term financial goals.
Imagine your life. You probably have those three categories. Short-term goals, mid-term goals and long-term goals. For example, buying a new phone next christmas, pay your car and buy a beach house. You need to do the same with your money and financial goals but instead of thinking about things, you need to use a time measure. Set short-term financial goals for the next 6 months to 5 years; mid-term financial goals for the next 5 to 10 years; and long-term financial goals for more than 10 years from now. The sooner you set these goals, the sooner you’ll start saving money.
