My Short-Term and Long-Term Financial Goals

September 5, 2024 When I started the conversation with my Project Money coach, one of the first questions was, “What is your immediate financial objective?” The second one was, “What would that accomplish for your financial future?”Those were insightful questions. Often, I get stressed out and overwhelmed when thinking about the big final objective, and I lose sight of the small steps that could make the journey easier. My coach helped me to identify short-term financial objectives and plan for more realistic long-term goals. We also talked about timelines, options, resources and tools to achieve my goals.My short-term financial goals. These are focused on liquidity and solvency:
  1. Create a budget to understand my income and my expenses
  2. Reduce my debt
  3. Start an emergency fund
  4. Increase my savings
My long-term financial goals. These are focused on profitability and growth:
  1. Build a healthy retirement fund
  2. Buy a house
  3. Increase my investments
I Identify my short-term goals and break them down into smaller, achievable steps. My realistic short-term goals are aligned with my long-term goals. I wrote down my goals and tracked my progress regularly. This helps me to have better habits when managing my money and to keep my focus on the big financial picture without the stress of being uncertain of my capacity to achieve my goals.
You might also be interested in I am committed to continuously learning about financial strategies, and developing good money habits is essential for long-term financial success. Here... Here are some steps I can take to prepare: 1. Review of my financial goals. I am reflecting on my financial goals for the past year. What did I achieve... It has been challenging to save after the holidays or recuperate the money spent on gifts, hosting parties or traveling. I am trying a few strategic plans... Developing sustainable money habits is essential for managing my finances to ensure financial freedom. Here are some strategies that helped me maintain... This is the holiday season. For me, it is time to visit my family, take a little vacation and relax after a year of working. But it is stressful to think... Reflecting on my financial journey since the beginning of the year, I realize it was full of surprises, challenges and learning experiences about finances... Every holiday season, I travel to my country, Colombia, to visit my family, and I also travel for my birthday during Thanksgiving. At the beginning, I... Keeping up with my financial goals takes time, discipline and ongoing commitment. Here’s how I am building my path toward a more secure financial future... After I started looking closely into my finances, I could analyze my strengths, weaknesses, threats and opportunities by organizing my money based on my... Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site.
NCUA Insurance Estimator Privacy, Security & Accessibility Rates Terms and Fees Routing Number
The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2023, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 ** SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2024. Copyright 2025 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA