Marc Haine talks with Steve Bridge about how goal setting shapes financial decisions. They cover prioritizing spending, telling needs from wants, and using goals to guide where your money goes.
people becoming more financially aware of what they need to be doing to gauge all that. How important is the goal setting aspect to financial planning in kind of an employee-employer program?
I love that you mentioned goal setting because it is the first place I start with my clients when I work with them privately. But also, when I do financial literacy presentations, start with what's most important to you. Is your money going towards what's most important to you? And from a place of knowledge, from a place of understanding where your money is going, then an employee is in a better place to make decisions. Is my money going towards what's most important to me? As you mentioned, setting those goals. So, maybe it's financial independence by age 60. Or say, Saving up for a vacation next year, big family vacation or something, or buying a new car. Is my money going towards that? And examining needs versus wants. And that's that goal setting. It's a I'm really glad you brought that up because it helps us guide our decisions and weigh options against each other. Is this the most important thing to me? Is my money going towards that or Would I rather instead of eating out 5 times a week, I would put the $100 a week towards a trip that we'd love to do next year, for example?
Yeah.
