How to Plan & Set Financial Goals

We host a #CreditChat on Twitter and YouTube every Wednesday at 3 p.m. ET.

This week, we had an opportunity to chat with Joe Saul-Sehy –  the founder of Stacking Benjamins blog and podcast – about ways to create smart financial goals.

During this tweetchat, we also had a Google+ video chat on YouTube with Joe Saul-SehyStacking Benjamins, Katie Bryan – Communications Director at Consumer Federation of America, Cameron Huddleston – Personal Finance Columnist at Kiplinger, Ashley JacobsWisebread,  Maxine Sweet – Vice President of Public Education, Rod Griffin – Experian’s Director of Public Education, Claire Murdough – ReadyForZero, and Mike Delgado at Experian.

Questions We Discussed:

Q1: Why is it important to set financial goals? What might hold us back from goal creation?
Q2: What types of financial goals should we create for ourselves? (Parents, Married)
Q3: What mistakes should be avoided when creating financial goals?
Q4: What are some steps you should take when creating realistic financial goals?
Q5: How often should we track our progress? Any favorite tools to help do this?
Q6: How should we handle setbacks in our finances? Should we reconfigure our goals?
Q7: What advice do you have for those that need help with creating financial goals?
Q8: Do you have any favorite resources or apps to help people with their finances and goals?
Q9: Any final tips for those looking to make smart financial goals?


Resources Shared


Tweetable Tips:

Without a financial goal, you lack direction. My money wants to know where it’s going. [Retweet]

People think goal setting is “fluffy,” but your goal drives all the hard investing and insurance decisions. [Retweet]

If you don’t have a map, you might end up lost or miss the destination entirely. [Retweet]

Set mini financial goals along the way to keep yourself on track. [Retweet]

Check in on short-term goals monthly, medium goals quarterly, and long-term goals yearly. [Retweet]

Setbacks happen. They are good moments to assess your budget and goal’s plan. [Retweet]

Teach your kids about emergency funds and have each fund from a % of allowance/chore/job. [Retweet]


Consider both your current life situation and where it is you want to be while setting goals. [Retweet]


Check out the complete tweetchat:

Experian Blog

Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. This news blog provides our perspective on issues and trends affecting our businesses and our constituents in North America, while occasionally touching on Experian global news. Learn more.

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