Financial Goals to have in Order to be Healthy Wealthy and Wise

1. Budgeting

A budget is extremely crucial when it comes to financial goals. Developing a budget helps with spending plans. Moreover, cutting back spending helps achieve financial objectives. The budget should be maintained and revised over time as needed. One should total all the sources of income and deduct the expenses from it. This helps one in knowing whether he belongs to the “red” or “black” category. Black category means that the income is greater than the expenses while the black category means that the expenses are more than the income.

2. Saving

Reflect on the difference of what you want and what you need. Saving is a requirement in this case. One should control the power and persuasion of advertising which encourages most people on the planet to spend. Saving is best if done slowly and steadily, without any panic. It should be simple. Savings should be taken out of ones paycheck before spending it. Using automatic payroll deduction and deposit helps fund a retirement account.

3. Preparation

Accept that there will be “rainy days”,  better known as emergencies. It is important to be prepared for them. This assists in avoiding borrowing from friends, family, or taking out payday loans that mostly charge high interest rates. You should have at least two to three months of salary saved for emergencies.


Time is money – use it wisely. Track time and how you spend it. Prioritizing activities, helps with developing a schedule. Set short–term, mid–term and long–term goals in different areas of your life. Writing down of goals make a stronger impression on the brain, making it more likely that you will complete them.

5. Priorities

Prioritizing tasks and being realistic about getting them accomplished is also a beneficial financial objective. An organizer can be used to keep track of activities. This reduces stress by lightening the load on your mind and by transferring those things you need to remember on to paper. To counter procrastination, consider doing a little bit of a larger task to keep on schedule. It is not so hard to complete a large project or task when one breaks it into smaller parts. Also consider if you are a perfectionist, or if you fear failure or success as these things affect priorities.