Financial Goals Consumer Math 2012-2013 1. Overview What Does A Financial Goal Look Like Examples Of Financial Goals How To Meet Financial Goals Evaluating.

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Presentation transcript:

Financial Goals Consumer Math

Overview What Does A Financial Goal Look Like Examples Of Financial Goals How To Meet Financial Goals Evaluating Outcomes 2

What Does A Financial Goal Look Like? What you plan to accomplish What resources you’ll need to make it happen How much time you’ll need to make it happen How you plan to make your goal fit into your overall budget and life 3

Examples of Financial goals 1.Insure against risk (insurance) 2.Put 10% of Pretax income away for retirement (IRA) 3.Amass equity in real estate (insurance, taxes and maintenance) 4.Build an emergency fund (3-6 months) 5.Pay off your consumer debt 6.Create monthly budget 7.Career Goals 4

SMART Goals SMARTSMART 7

How to create financial goals 1.List them 2.Estimate Cost 3.Set a target date (or series of dates) 4.Determine the cost to meet goals 5.Budget for goals 6.Re-evaluate ntrack/index.html 8

Goals By Age 9 g/content.asp?contentid= g/content.asp?contentid=

Example 10 How would you achieve the goal of buying a new, $25,000 car?

Tips 1.Be realistic 2.Stay motivated 3.Deal with setbacks 4.Don’t get overwhelmed – consolidate goals 11

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