But setting proper financial priorities can feel overwhelming when you have so many things competing for your time and attention. However, don’t let this one slip to the sidelines.
Here are some common questions answered and tips to get you started:
How do I make smart financial goals?
First off, you’ll want to approach setting financial goals much like you would planning a specific travel itinerary. For example, with both, you need to have a starting point (Point A), a destination (Point B), a timeframe, and how much the journey will cost you.1
Also, keep in mind to be SMART (Specific, Measurable, Attainable, Realistic, and Time-related) when making financial goals.
Once you have a specific savings goal in mind, you can automatically set aside a certain amount of money each month – or every paycheck – to go toward that goal, much like how you would when saving for a vacation.