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What should you consider in setting personal financial goals?

Fidelia

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When people set financial goals, they are trying to pattern their life so that it has a defined trajectory financially.

But in setting financial goals, what are the things that people should always consider so as to get it right?
 
Outline your goals and be specific. What are your financial ambitions for the new year? Spell them out
 
If you're going to set financial goals, you must consider and evaluate your current financial situation, including tracking all income and expenses. Determine your short-, medium-, and long-term financial goals. Create a plan and take action. Conduct periodic evaluations.
 
Document your income sources and expenses. Knowing how much money you can allocate to different goals each month gives you clear direction on how to move forward.
 
When you have relatives that depends on you for a part or full of their financial needs, you have to carry that financial responsibility along when setting financial goals.
 
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