Tuesday, September 4, 2012

Four Financial goal mistakes

Some people cannot reach the financial goal whereas they have written it in the book or computer. The unreachable financial goal could happen because some mistakes in writing the financial goals.

1.The financial goal is vague
The people often write that the financial goals is wealth but the wealth definition is so wide. Each people has different opinion about the wealth. The homeless think that the wealth people is someonew whose has a comfort house. The small house owner think that the wealth people is someone whose has house and condo.

2. The goal is unrealistic
The ordinary clerck set the financial goals is to have an airbus aircraft. This is unrealistic goals, the man must be a dreamer.
The ordinary should think as the common people. Their salary is enough for house, kid education, ordinary car, and others. They also need to consider the medical and the retirement.
They can fits the financial goals with the money they have own or salary they have. How much the amount money that can they save in a month?

3. unmeasurable
The goals is to own the house but the goal does not describe the house. The goal should describe the house well. Example, the house price is in the urban city near the centre of city. The house in city center is more expensive than the suburban house because the land price is very expensive. The unmeasureable goal make you difficult to allocate the money.

4. Decrease the goal
Evaluate the goal is a must but decrease the goal is a mistake. When you have a realistic and reachable goal, you do not have to change the goal.
Example: Last year, you have write the financial goal about saving $ 100,000 for house. Due the downturn economic, you change the goals. you decrease the saving to $ 75,000. The decreased goal make you lazy. You do not find the alternative way to reach the goal.
Be creative to reach the goal. Find other income source to reach the goal and do not depend on paycheck every month. You can buy some asset such as land, property, vehicles, and rent the assets. Alternatively, you can invest to the profitable investment. 
The financial goals is an element of financial planning. Making a msitakes in financial goals will influence the financial planning. Carefully to make the financial goals for your life. You can consultate to the financial expert about your financial goals.

Top Financial Planning tips
Personal budgeting Concept

No comments:

Post a Comment