SETTING FINANCIAL GOALS

Listing all that one aims for with how much to save and invest every month towards each target makes it easy to track the progress

- Narayan Krishnamurthy

We are all unique and so are our financial goals. One should not confuse the similar desires that many of us may have owning a house, buying a car, saving for children's education and more-with having the same financial goals. As none of us have the same bills, rent, debts or lifestyle, we need a plan that will address our specific circumstances and not that of our neighbour's. Aiming for a financial goal involves saving and investing money to realise that goal.

Step 1: List your financial goals and categorise them based on a timeline as short-, medium- or long-term.

Step 2: Put in the target sum you need for each goal and the number of years you have to achieve them.