Have you made plans for the future but think you can't achieve them? Well you've come to the right place then. With the help of personal financial planning using SMART goals, you can set targets and determine how to achieve them in a realistic way. The importance of personal financial management is that it helps you set achievable targets and attain them practically.
To make your dreams come true you have to make change them into goals. This can happen only when you attach a monetary value and a timeframe. These goals become easier to achieve if they follow a solid financial roadmap. This goal based financial planning is the very basis of modern day personal investment management.
The goals need to be SMART :
S – Specific
M – Measurable
A – Achievable
R – Realistic
T – Timebound
With this, an investor’s financial goals can be well planned for.
Dreams, however large or even bizarre, are not impossible to achieve if they are SMART.
One needs to understand the importance of financial planning and stick to the plan.
Goal based investing gives you an target to aim for, and when this well defined goal is backed by a well thought-out plan, you will have found your key to success.
Read more on importance of financial planning:
https://www.franklintempletonindia.com/templatedata/gw-content/article/data/content-international/en-in-retail/investor/head-start-6-_io04og31
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