6 Reasons To Set Financial Goals
If you have dreams you want to reach and projects you want to finish, or you just want to sleep peacefully at night without worrying about money (don’t we all?), then it’s time for you to set some financial goals.
“Financial goals” are different for everyone. Some people want to save money for a specific thing, like a trip or a new car. Others just want some security: to know that they have money set back in case of an emergency or if they decide to go on a random shopping spree (because you deserve it). When you want something badly, you set a financial goal for it. You save money, you budget, you work a side job, you invest, you do whatever you have to do to make those goals a reality.
You may not find it easy to stick to goals, especially financial ones. We get it. The truth is we all struggle to save and budget our money. But trust us: the rewards of setting financial goals are totally worth it. To prove our point, we made a list of 6 reasons why it’s important for you to set financial goals.
1. It Eases Your Anxiety
When you set a financial goal and stick to it, the crushing anxiety you feel whenever you think about money will decrease exponentially. It may even disappear. That’s because you’re no longer worried about money you don’t have or whether you’re overspending. Instead, you created financial goals and you’re sticking to them. Knowing that, as well as how great you’ll feel when you reach the end of your goals will give you peace of mind and finally let you get a good night’s sleep.
2. It Helps You Accomplish More Projects
If you have multiple projects you want to complete, like fixing the brakes on your car while also buying a new computer, you can set financial goals for them all. All you need is a realistic budget and some patience, and eventually you’ll find that you are able to complete more projects simply by sticking to the financial goals you set.
3. It Gives You More Freedom For Spending
Your financial goals shouldn’t prevent you from treating yourself once in a while. On the contrary: financial goals are there to help you save money while still giving you freedom to spend money on things you love, like new clothes or a night at the movies.
4. It Gives You A Feeling Of Security
Setting financial goals makes you feel secure. You feel better knowing how much money you have and that you’re working diligently toward something you really want. And if something unexpected comes up, like your car breaking down or a visit to the ER, you’ll breathe easier knowing your finances can handle it.
5. It Helps You Not Run Out Of Money
Setting financial goals helps you stay on budget. If you stick to them, you won’t have to worry about bills not getting paid or exceeding your spending limit. Instead, you’ll feel confident that you have enough money to meet your needs (and even some wants, too).
6. It Prepares You For The Future
Everyone has dreams. Some dreams are big and ambitious, while others are more down to earth. Some people want to spend lots of money, and others want to save lots of money. Regardless of which category you fall into, financial goals will prepare you for all the great things you’re going to accomplish with your money in the future.
Start setting financial goals today and see where they take you!