![]() ![]() If you aren’t familiar with SMART, it’s essentially a framework to set Specific, Measurable, Achievable, Realistic, and Time-Bound. It is also important to set goals using the SMART methodology towards achieving money-related freedom. Long-term goal: Have a full university fund for when your kids turn 18.Long-term goal: Save up for your retirement.Mid-term goal: Buy your first home in 5 years.Mid-term goal: Pay off all student loans in 4 years.Short-term goal: Pay off all credit card debt in 12 months.Short-term goal: Have $10,000 saved up in an emergency fund.Here are some examples from Investopedia: In this section of your plan, you will want to outline your life goals as best you can in the present moment for short-term, mid-term, and long-term periods. You will inevitably end up spending more and coming up short on unexpected expenses, not to mention the looming thought of retirement taking up more and more space in your mind as you get older.īut this can all be avoided by setting some concrete and reachable goals. No matter how cliche the saying “failing to plan is planning to fail” is, it rings loudest when it comes to your financial future. ![]() Start Your Personalised Plan with a Free Discovery Meeting 1. Setting your sights on the future: superannuation strategy.Own your finances with cash flow management.Understand your burn rate before you get burned.Don’t let budgeting basics be your downfall.To get off the starting line by setting life goals.And to teach you how to use it to get the freedom you crave. We put together this guide to give you a framework for creating a solid financial plan. Your financial plan is your ticket to financial freedom. However, it takes planning and commitment to act now for your and your children’s future. No one wants to lie awake at night worrying about how they’ll afford Christmas presents, or go to sleep and have nightmares about interest rates. Real financial freedom, for most Australians, looks like no anxiety about bills or debts, knowing you are progressing towards your goals and the lifestyle you want, providing good education for their children, being able to put money aside for the future, and having extra that you can choose to spend how you wish. Often real freedom even eludes high-income or wealthy people due to the worry and pressure that planning and managing assets can bring. Many people view financial freedom with skepticism, due to their past experiences, their current struggles, or the burden that coordinating their finances places on them. Because at the heart of monetary freedom is clarity, fulfillment, and liberation from worry. While financial freedom generally refers to having enough passive income that you no longer need to go to work, we suggest that there are different kinds of financial freedom. You might not be here yet, but this is a glimpse of financial freedom. Oh, and you could even afford to spend a little on things you love, free from stress. Your bills were automatically being paid, you weren’t accruing any exorbitant interest on your credit cards and loans, your money was somehow invested in all the right places, and your savings account kept growing. You woke up this morning with a big smile on your face.
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