Importance of setting goals before saving money
- Thread starter Johnson2468
- Start date
Yeah, I think one of the most important things you need to know before you embark on saving money is to read some financial books. They can help you to give you some insights of how to do that effectively.
I agree that it is important to set goals for saving money. I have several goals. I save for retirement; I save for taking leisure trips , I save for home renovation and I also save for emergency fund.
that is actually very good and it is what I am planning to do. Having savings for different things is very important and necessary if you want to maintain some level of financial stability.
You could by error spend money on things that does not really matter but you will avoid such purchases in the future because in work or project we are learning from our errors.
That is actually very true. several people have actually made mistakes by purchasing things that does not really matter but learning from their mistakes is what really matters in most cases. I have actually made such mistakes.
The pains of saving wouldn't allow you to be unserious with business established with such money.
Of course, it is only someone who is not serious that will take his or her business for granted. people who are knowledgeable enough about a particular business will take it serious whether it is with their savings or with loans.
It is true. When you have a goal of what you want to achieve, you will be spurred to save. Goal setting inspires sacrifice and brings you the consciousness that something is at stake if you don't sacrifice.
This is very true. At the moment with the current rising inflation it is difficult for some people to be able to do things like save but if you ever have the chance to be able to put some money away and save, having a goal in mind and something you can work towards always helps in preventing you from spending it just for the sake of it.
Yeah, when you have something you want insight you will actually work very hard to achieve that goal. That is one of the major reasons it is always very important and necessary to set your goals and if possible make a table of reference before you start saving money.
I know couple of people who were able to set a very good goals and they were able to make reasonable money.
It is good to set realistic goals because that is what will guarantee profit.
You can get a loan because you fail to save money for running your project, this is to resume everything if you have objectives clear and are sure to have a return from your business.
Setting a goal would make it a lot easier for you to stay motivated and keep pushing forward. Most people tend to give up on their savings easily due to not have a goal or a reason for saving.
