In this lesson you will learn 💸
- What financial planning is all about
- How you can set achievable and realistic goals for your finances
Watch the short video to get started:
Structure your goals
To plan your money and to make it easy to define what you want to invest, think about your goals in three different time-horizons:
How to set realistic goals?
Don't worry, we will look at the amounts you might need in lesson three of this chapter 😉
The easiest way to make sure that your financial goals are realistic is to link them to your life stage. There are three different categories to consider for this:
- Short-term goals (1-3 years): These will define how much money you need available in the short term (liquid). They could include finding a new job, paying off credit cards, or building up an emergency fund.
- Medium-term goals (4-10 years): These could include taking a career break, starting a business, or saving for a new car.
- Long-term goals (10+ years): These could include early retirement, buying real estate, or sending your children to university.
Your action 📝
Take a piece of paper and note down your short-, mid-, and long-term goals and any special goals you might have.
No need for perfection here, simply put down what comes to mind. We'll put it all together in lesson four 😊
Ready to test your knowledge?
Finish this lesson and get rewards🏆
Take the quizGreat job on passing the quiz! You're welcome to take it again, but the coins you earned are a one-time reward😉
Take the quiz to wrap up the lesson
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