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Setting financial goals

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Financial goals are sometimes hard to achieve but at least we have to try and may start with a small goal and see to it that there is at least part of it that leads you to a realization that setting up a financial goal is a must. We have to identify what we would like to accomplish financially and create a plan to make it happen. As usual, it is always recommended to apply the SMART goals. SMART goals help us identify exactly what we want and how we plan to achieve it. SMART goals are Specific, Measurable, Achievable, Relevant, and Time-Based.
 
As you have explained, financial goals should apply the SMART principle (specific, measurable, achievable, relevant and time based), for example if I only have an income of $1k per month then I don't need to fantasize about buying a Lambo car because it is not measurable and time based requires a very, very long time.
 
It is important to set financial goals if you want to live life happily. I do that. I have monthly goal to save some percentage of my salary and invest my money for future growth.
That is the best mindset to invest something for retirement or the future. We will reach old age and at that time we are not as energetic as we are today.
 
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