Episode 15: Why You Need Financial Goals

Mar 2

Financial goals are one of the most underrated aspects of the financial planning process.

However, they’re also one of the most essential.

Setting financial goals gives your money direction and intention, allowing you to live a more intentional life where you are in control of your finances, not the other way around

In this episode, you will learn:

Why most people don’t set financial goals
Why financial goals are important
The 4 types of financial goals everyone needs and how to set them

Enjoy!

Key highlights

[00:00:03] Why Money Goals Are Sexy and So Fun - Setting The Four Financial Goals You Need To Reach Success

[00:05:31] Setting Financial Goals to Achieve Growth and Success

[00:10:53] Setting Financial Goals for 2020: Stress-Testing Your Income, Lifestyle, and Savings Goals

[00:16:14] Designing Your Financial Goals with a Holistic Approach

Notable Quotes

"I think financial goals are one of the most underrated components of money coaching and money planning that's out there."
"The only difference between those two ways is just this. It's the way that you think about your money goals."
"Setting a money goal doesn't just [cause stress and pressure] to you. The reason why you experience that is because of the way that you are actually thinking about this money goal."
"Setting money goals with unintentional negative thoughts is like carrying a heavy burden that will only weigh you down, leaving you feeling stressed and overwhelmed."
"Money goals that excite and inspire you will push you to achieve them, while those that create pressure and disappointment will discourage you from even trying."
"Setting financial goals gives your money direction and intention, allowing you to live a more intentional life where you are in control of your finances, not the other way around."
"All of these things require you to grow and get out of your comfort zone as a person. That is another amazing, amazing reason why you want to set money goals for yourself."
"When you're setting your money goal for yourself, I want you to make sure that it's grounded in reality. I want you to stress test, pressure test your income goal against what could potentially happen, and then start to create your next steps that you're going to take that growth step."
"I want all of you to make sure that you ground your income goal in some sort of reality. And the way that you can do this is you ask yourself, 'Okay, how could this potentially happen?'"