 TITLE: How to Set (and Reach) Your Financial Goals CONTENT: How to Set Financial Goals That Stick\n-------------------------------------\nLaying out financial goals is only helpful if you're ready to work to achieve them. Here are ways to help set and follow through with your goals.\n### 1\\. Consider What Matters to You\nIt's certainly possible to work toward more than one financial goal at the same time, like contributing to your 401(k) while also paying down debt. However, spreading yourself too thin across multiple goals could slow down your progress. If you find yourself with competing goals, think about what matters to you most. For some, being debt-free translates to financial freedom. Others may prioritize buying a house or maxing out their 401(k).\nTo avoid diluting your efforts, consider which financial goals would bring you the most joy—then increase your savings rate accordingly until you cross the finish line. You can then get laser-focused on your next goal.\n### 2\\. Determine Short- and Long-term Goals\nYour financial vision will likely be a mix of short- and long-term goals. Short-term goals include anything you'd like to accomplish in the near future, such as building up your vacation fund or saving for a down payment on a home. Longer-term goals can take the form of retirement planning or setting money aside for your kids' college education.\nFor goals that have a longer timeline, investment accounts can be a great way to grow your wealth over time. Since you won't need the money in the near future, you're in a better position to weather market ups and downs along the way. Meanwhile, a high-yield savings account, certificate of deposit or money market account are usually your best options for parking money you plan on using sooner rather than later.\n### 3\\. Track Your Progress\nReaching a big financial goal probably won't happen overnight. To increase your odds of success, consider breaking larger goals into smaller, shorter-term objectives. Let's say you want to build your emergency fund up to $20,000. The first step is setting a realistic timeline. If you settle on a goal of having that much saved in three years, you'd need to save roughly $6,667 annually. You can break that down even further to $556 per month—or $278 per paycheck if you get paid twice monthly.\nThis number may suddenly feel more attainable. What's more, you're creating a simple way to monitor your progress. Establishing a savings target and timeline for each financial goal can make it easier to keep track of how you're doing.\n### 4\\. Hold Yourself Accountable\nYour plan won't do you any good if you don't follow through. While tracking your progress, you may find months where you fall short of your target. Look at these hiccups as opportunities to understand why you're struggling. Is your short-term goal too ambitious? You may find that overspending in other areas of your budget is impacting your ability to keep up with your savings target. Holding yourself accountable will require you to pinpoint your challenges, and plan ahead to reduce the likelihood that they'll happen again.\n### 5\\. Course-Correct as Needed\nLife has a way of disrupting even the best-laid plans. While working toward your financial goals, you may need to make adjustments along the way. An unexpected job loss or dip in income, for example, might result in a temporary setback. The most important thing is to contribute whatever you can to your goals until you're back on solid ground. On the other end of the spectrum, coming upon a cash windfall or salary increase could enable you to accelerate your savings rate and reach your goals faster. Either way, your financial goals may change as you move through different phases of your life. This isn't a problem as long as they're aligned with your values and long-term vision. END