What would you like your net worth
to be 5 years from now and 10 years from now?
Set Financial Goals
Most people who have built wealth did not do so overnight. They got wealthy
by setting goals and striving to reach them. These goals consist of short-term
and long-term objectives.
A personal wealth-creation strategy is based on specific goals. In preparing
- Be realistic.
- Establish time frames.
- Devise a plan.
- Be flexible; goals can change.
So, sit back and write on a piece of paper your short-term and long-term
Short-term - In three years save $5,000 for a down payment on a house.
Long-term - In eight years save $15,000 to help my child with college.
Now you can choose how to meet those goals. This is where budgeting to save comes into play. Thus, to become a millionaire you must set a budget and learn to live by it.