Long-Term Goals (complete in a year or more)
An example of a long-term financial goal might be to reduce your credit card debt. Make the goal specific by listing the total amount of debt you plan to pay off and setting a deadline (month and year) to repay the debt. Make it measurable by listing each credit card that has an outstanding balance, the name of each credit card issuer, the annual percentage interest rate, and the amount owed on each credit card. Your goal will be mutual if other household members agree to work toward debt reduction.
What is your motivation for paying off this debt? Perhaps it’s to stop calls from bill collectors. Once you’ve written your goal to eliminate your credit card debt and identified key information about each credit card with an unpaid balance, it will be easier for you to prioritize which credit card you’ll pay off first and to develop your plan of action. Example #1: Organize Important Household Papers (available in pdf format) and Example #2: Debt Reduction (available in pdf format) illustrate how you can use short- and intermediate-term goals to achieve long-term goals.
Lesson Contents
I. Introduction
II. How to Get Organized
III. Organize Important Papers
- a. Which Papers to Keep
- b. Where to Keep Papers
- c. How Long to Keep Papers
- d. When to Update Papers
- e. How to Replace Papers
- a. SMART Goal Setting Techniques
- a.1. Short-Term Goals
- a.2. Intermediate-Term Goals
- a.3. Long-Term Goals
- b. Write and Visualize Your Goals
Organize Your Important Household Papers belongs to a series called Legally Secure Your Financial Future. The series also includes information to help you communicate with others and begin preparing your estate plan.
