Stop Kicking The Ball With No Goal Post in Sight!

To weather emergencies, saving money is the first step and for that to happen a financial goal becomes inevitable. Read on to know more.
Bank savings, money
Stop Kicking The Ball With No Goal Post in Sight!
Savings are the financial lifeline for an unexpected event that is right behind you and ready to hit you anytime. In fact, it can happen even as you are reading this blog.

In this article

It is very common for us to be serious about getting a job and securing regular income but the same does not happen when it comes to safeguarding the income itself.

Being a part of the game is fine but winning matters. That is why it’s important to have a goal in sight, just like a game of soccer.

The Right And Real Financial Goal

Many people often have “nano” financial plans and then dismiss the idea of having one. This is a very bad practice as these goals are time-bound and closely linked to a lot of behavioral factors.

Before setting financial goals remember to take into consideration your income, expenses, and ability. Once set, it allows you to put dreams and hopes into action. It starts with locking a goal and then working on a plan for achieving it. It requires that your financial goals must be:

  • Specific
  • Measurable
  • Attainable
  • Relevant
  • Timebound

Outlining money goals this way can set you in the right direction and the necessary motivation you need to follow through on them.

Set Dual Savings Goals

Even if your savings are less it is always more in the long-run. On the other hand, setting too many goals will only lead to added pressure and eventually dismiss the idea.

To begin with, there’s a simple route to approach the savings strategy. Choose one financial goal for short term and one for long term. Stop thinking too much about whether you can pull it off or not because ultimately it’s your money and willpower.

Short-Term Financial Goal: Build Your Savings

Have you ever thought about what happens if you don’t have a rainy fund or savings? No brainer, you tend to borrow and acquire debts. It is always good to have a back-up that will take priority over other savings goals.

In the short-term financial goal, first, decide how much you need and want to save. For instance, is it three or six months’ worth of expenses you want to save? Or you may choose to save a fixed dollar amount. So that you could break that goal down to determine how much you need to save each month to achieve it.

Long-Term Financial Goal: Go Big

The goal is pretty much the same as short-term and the only difference is when setting it – consider the next five, 10, or even 20 years. 

The pandemic has changed the game so even if the purpose of savings is not defined at least the goal is accomplished or you may want to keep that money for retirement instead.

Tackle Your Goals

Just like soccer, the goal post is visible now but you can’t score a goal just like that because you’ll have to tackle the opponents (unemployment, debts, expenses and so on). A strategy is required that has got more to do with fine-tuning the set financial goal.

Evaluate What You Have

Cash crunch management depends on various factors so knowing first what resources you have to play around and the expenses that are stopping you from savings is a good step to start off. It might look unpleasant but review your entire financial picture, including:

  • How much is remaining in savings?
  • What is the frequency of your income, if any?
  • What is your current expenses and budget?

Right now everyone is in a financial emergency and the problems are pretty much the same. A clear understanding of your financial picture allows you to identify feasible options such as opting for an emergency fund (no credit card please!) that can help you adapt and survive in the current circumstances.

Lower-income families need not save much but emergency situations can stretch your financial limitations.

So, take aim to score the goal!

Was this helpful?

Did you like the post or would you like to give some feedback? Let us know your opinion by clicking one of the buttons below!

Karthik Viveka

Karthik Viveka

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

Related Posts


8 Money Lessons From Barbenheimer: Top Tips

In a world where entertainment often mirrors real life, it's fascinating how even movie characters can offer valuable insights into the complexities of financial management. From the iconic Barbie doll to the lesser-known but equally enlightening Oppenheimer, these characters have graced the big screen with stories that go beyond their animated adventures. Join us as we embark on a journey through the worlds of Barbie and Oppenheimer, uncovering the hidden money lessons nestled within their cinematic tales.

Best Ways to Celebrate Independence Day on July 4th at Home

Celebrating Independence Day at home can be a fun and meaningful way to commemorate the holiday. Explore the best ways to plan a festive and enjoyable celebration at home with Beem!

10 Ways to Celebrate the Fourth of July on a Budget

On the occasion of Independence Day, disturb your budget and ensure to enjoy the essence of the day. It is a cherished tradition of commemorating a historical event. Here are the best ways you can celebrate the occasion on a budget!
Independence Day fourth of july (6)

How to Celebrate Independence Day Without Fireworks

From adventurous outdoor activities that will have you dust off your outdoor gear to gatherings where you overeat and laugh too hard, here are simple, yet popular ways to celebrate Independence Day on July 4th without fireworks.

Independence Day: How to Celebrate Fourth of July at Work

Planning July 4th office celebrations can be a great way to boost morale, foster team spirit, and create a festive atmosphere. These tips will help you plan a successful July 4th celebration at home.
Fourth of July

How to Teach Kids About the Fourth of July: Best Ways

Take the opportunity of Independence Day and teach your children to be the person they aspire to be when they grow up. This guide provides some significant suggestions to help you teach your kids about the Independence Day.

Save big on auto insurance - compare quotes now!

Zip Code:
Zip Code: