What are some frequent mistakes people make while making financial goals?

[freelancermaria]

It is a common mistake for people to overlook the value of setting financial goals. When you do not set specific goals, you are likely to fall short of your financial goals. You must take action to attain your goals, as just having a goal without any follow-up will lead you nowhere. Another common mistake is setting a lot of goals, which can be overwhelming, causing you to lose focus on the ones that matter most. Thus, it is essential to determine and prioritize your goals, so you can work towards achieving them with clarity and focus.

 

[eLdavis]

I think on common mistake most people make is to make plans on money they are yet to get or receive.

 

[Starmix]

Lacking self control is one cause of mistake while still preparing to achieve the financial goal. Too much spending and no planning may lead to financial struggle because of the unfinished goals.

 

[freelancermaria]

I think on common mistake most people make is to make plans on money they are yet to get or receive.

Yes, it is a common error that people tend to commit. They tend to make plans for the money they have not even earned yet.

Post automatically merged: Apr 17, 2024

Lacking self control is one cause of mistake while still preparing to achieve the financial goal. Too much spending and no planning may lead to financial struggle because of the unfinished goals.

Yes, too much spending can adversely impact your financial goals, without a doubt. Make sure to have self-discipline.

 

[King Belieal]

One of the common mistakes that people make when making financial goals is that they set their financial goals based on what another person has achieved. They are competing with that person but that is not tenable.

 

[neku]

Not diversifying the investment is a major problem while setting the financial goals. In some countries there are many well connected frauds who persuade banks and others to rob the hard earned money of vulnerable citizens.

 

[Stardom22]

Most people are making higher targets and greedy business goals that are never achievable.

 

[Augusta]

I think on common mistake most people make is to make plans on money they are yet to get or receive.

Yeah you would always go wrong when you plan with money you are yet to have. You would done for when the mind never arrived

 

[Suba]

Not having specific financial goals and not having priorities is a common mistake that we often encounter. Specific goals must be clear, such as buying a new car, wedding expenses, etc. So they don't have the motivation and enthusiasm to save. Priority is also important in determining financial goals so that our spending is directed or in line with goals. Many people out there have set financial goals but unfortunately they always delay starting to save

 

[Augusta]

You just use money without planning for the things you are doing with it now. Save money for specific things you want to buy

 

[Springtime]

One common mistake when making financial goals is overestimating the income or too optimistic. When you do financial planning, you have to take into account the worst scenario such as you are out of job or get sick and cannot work for quite some time.