Reflect on your Long-Term Financial Goals

Hello All,

Welcome to this week's bingo blog!

Goal setting can get a bad rap. Especially when we spend most of the time comparing and despairing. I suggest an alternative approach. Let's take this holiday season as a time to pause and refocus our intentions on potential long-term goals. 

For the purpose of this exercise, we can define a long-term goal as anything 5 years or longer; use whatever timeframe feels most useful. Consider reflecting on these key questions below and ask yourself how can I spend or save to support this way of living?

• What are your core values as an individual and/or family? 

• Where do you see your income coming from in the next 5+ years?

  • Would you like to be doing anything differently?

• How will debt factor into your future?

  • Is there debt now that you want to no longer carry in 5 years?

  • Are there other liabilities that you would like to take on in 5+ years? For instance, a mortgage or car loan?  

• How do you see your living situation in 5+ years?

  • Is homeownership in your future? Renovations?

• How do you see your lifestyle in 5+ years?

  • What do you want to be doing more of? What do you want to do less of? 

Reflect on these prompts as an individual or discuss as a family. Try to turn inwards when thinking about what you want your life to look like. It's easy to get caught up in what we think is expected of us; it's important to check if we are following external motivators and expectations or internal guidance. 

Let me know how it goes! What are your long-term goals? I'd love to hear about them.  

You can shoot me an email at hello@financesforfeminsts.com or send me a DM at https://www.instagram.com/financesforfeminists/. Well done on another bingo square completed!