Creating finance goals

So, you read our budgeting blog post right? If you haven’t, you should. We’ve included some tips here on the process of getting your finances organized.

How to create a financial plan

  1. Figure out goals

  2. Gather your info

  3. Assess and analyze

  4. Make changes

  5. Review progress

Benefits to having a plan include beating bad habits and figuring out priorities.

Making long-term and short-term goals

Long-term goals are typically big-picture costs. These can take several years or even a decade to reach. Examples include:

  • Retirement fund 

  • Buying a car

  • Saving for a down payment on a house

  • Paying off a mortgage

  • Starting a business 

Short-term goals are your more immediate expenses. These generally are things you will spend money on within a few months or a year. Examples include:

  • Going on vacation

  • Credit card debt payments 

  • Monthly rent

  • Saving to pay out of pocket for that summer class, study abroad, next semester's books or tuition cost

Emergency fund

An emergency fund is a stash of just-in-case money. Why have one? It helps if you:

  • Lose your job 

  • Need emergency repairs

  • End up in the ER 

Rule of Thumb: Save three to six months of living expenses


  • Set up Autosave

  • Fund before other goals 

  • Keep in savings account

Adding these simple tools into your budget or savings plan will help create healthier financial habits and ultimately lead to more savings and less stress in the future.