How can I set financial goals that are realistic?

[Min George]

When it comes to setting financial goals, some people just go ahead to set bugous goals that are so big and they might not be able to meet it. They might say they want to be ambitious.

But how do we stay realistic with our financial goals? How can we set realistic financial goals?

 

[King Belieal]

You would need to have a record of your income and expenses to be able to know how you make financial goals.

 

[eLdavis]

To set realistic goals, you should know your needs and wants. Setup a budget according to your needs.

 

[Springtime]

To set realistic financial goals, you need to know your income and expenditures.

 

[Suba]

If you are going to set a realistic financial goal then you need to know your financial capabilities first, how much income each month, how much money will be saved or invested. For example, if your monthly income is $ 1000 and your expenses are $ 800 then the ability to save and invest is only $ 200. If you set a goal of wanting to have $ 1 million USD in a year then it is not realistic. So your realistic goal is if you only want to have $ 2 thousand to $ 5 thousand USD in a year.

 

[Fidelia]

Setting financial goals to be realistic demands that you know what constitutes liabilities for you and that is different from person to person.

 

[Augusta]

it Is simple just spend less but increase your income. Just do little of this and you are doing well already

 

[King Belieal]

Don't ever set a financial goal that would take you more than 12.months to achieve. Such is not a realistic financial goal.