Setting Financial Goals
Setting Financial Goals
One of the best benefits of the military is knowing that the paychecks are going to be stable throughout your time serving. Being realistic is the biggest tip I have when it comes to financial goals. You have to distinguish needs versus wants. If you aren’t going to actively save money, you aren’t going to see results. My husband and I like to set goals in these increments: one to four years, five years and then 10 years. By setting these goals you can also assess where your spouse will be in his/her career. If your spouse is planning to leave his/her military career, then you can figure out how much money you’ll need to make sure you’re stable.
MilSpouse Money
Mission Response:
A stable paycheck during a military career is certainly a strong benefit. It can bring peace of mind during times of uncertainty. Having a plan for that money is a great way to stay on track. From the picture, it looks like your family enjoys some peacefulness along your journey! Setting goals and celebrating small successes along the way can be a great approach to building financial success. Looking at time periods is a great start!
Here are a few other things to consider when setting goals. Make sure your goals are SMART, meaning:
- Specific – Be very specific in terms of what you would like to accomplish.
- Measurable – Define your goals in a manner allowing you to track your progress and know when you’ve succeeded.
- Attainable – Set goals that are reachable, not merely dreams.
- Relevant – Your goals need to be realistic to help you stay engaged.
- Time-Bound – Set a target date of accomplishment.
Visit Goal Setting to learn more about setting goals and helpful tips to get started.
