How to choose a financial objective
Many people often complain because they can’t save, they can’t save money for a long time and they usually end up spending the pesos on anything. If this is your case, perhaps it is because you do not have a financial objective.
Goal that you want to reach concerning your finances
A financial objective is defined as that goal that you want to reach concerning your finances. If you don’t have it, it’s like you’re running a marathon without knowing where exactly the goal is. The financial objectives can be short or long term and we can even have them in parallel.
For example: In the short term, we want to reach the end of the month with a balance of 10% of our salary, and in the long term we keep 5% of our salary monthly to join the car hitch we want to buy.
It does not mean that we cannot save
What happens when we don’t have a financial objective? It does not mean that we cannot save, but that we quickly lose the desire to do so because we do not have in perspective what it is that we want to achieve.
Suppose you want to buy a new car and want to do it by means of vehicle loans. Then, you must evaluate step by step what you will do to achieve this goal. The objective will have several steps: Maintain a good credit history, collect the down payment, obtain the credit and pay the fees.
Knowing the steps you must take to reach the goal
Knowing the steps you must take to reach the goal will help you be motivated and maintain the savings you need for the hitch. In addition, that will meet the goals faster. You know, the important thing is to set a goal.