What are the different types of financial goals?

There are various types of financial goals that individuals may pursue depending on their needs and circumstances. Short-term financial goals typically involve saving for emergency expenses or paying off debt within a few months to a year. Medium-term goals may involve saving for larger purchases such as a down payment on a house or a new car, and usually require a few years of planning. Long-term financial goals generally involve planning for retirement, investments, or building wealth over a period of several years or even decades. Each goal requires specific planning and strategies, such as budgeting, investing, or utilizing financial tools and resources.

This mind map was published on 17 April 2023 and has been viewed 76 times.