Financial planning can be kind of a drag. Save for retirement. Buy more insurance. Save for college. Pay off debt.
Planning for death or disability is not exactly uplifting. Wouldn’t it be nice if financial goals were a little more fun?
Staying motivated is important so you don’t lose momentum in reaching your financial goals. A shorter term goal can provide something to look forward to and keep *all* your goals on target.
Think about your financial goals – are they all long term? Try setting a short or medium term goal, such as a vacation, wedding, home renovation, job change or move.
A trip may be the perfect fun goal. The ideal time frame is 6 months to 2 years away. Where will you go and when? How much will it cost? How long will it take to save to get there? The idea is to SAVE for a goal, rather than pay for it using credit cards and continuing a cycle of debt.
Example: Vacation Rental
- Transportation: $500
- Lodging: $1500
- Food & Drink: $800
- Incidentals: $200
- Total needed: $3000
- Time to goal: 6 months
- Monthly savings needed: $500
What’s your fun financial goal? Create a plan and make it happen!
She lives in Montauk, NY with her husband, 3 kids and Labrador puppy.
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