How to Set Financial Goals, Aryan Chaudhary, 2021
What sort of financial goals do you have in mind? Is it a short-term goal, like saving enough money to purchase a new, big-screen TV? Do you want to start an emergency fund, in case of sudden bills, or some sort of investment account? Is it a long-term goal, like saving enough money to buy a house? This book can help.
What happens if you don't set any kind of financial goals? You may become stuck in life, and your dreams will remain unfulfilled. You will fall into the debt trap, and life will teach you some unpleasant lessons. The chances get better of you dying broke. You will be forced to spend more and more time at work, neglecting your family.
Financial planning, ahead of time, will help neutralize any short-term "wants" and help keep you focused on your overall goal.
Now, start getting specific about your overall goal. What do you need? When do you need it? How will you contribute to it? To give a simple example, you want to create an emergency fund of at least USD6000 in the next 12 months. You need to figure out a way to put aside USD500 per month, every month.
This is an interesting book. Most of it is a workbook, with plenty of space to write down your progress toward your ultimate goal. Yes, it is very much worth considering.
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