Goal Setting
A goal is an amount and a date. Those two together imply a pace, which is what turns a balance into something progress can be measured against.
Naming a purpose changes what a balance can be compared to. An unlabelled balance can only be compared to itself last month.
What a named goal adds
- A target figure, which makes a balance either ahead or behind rather than simply larger.
- A required pace, derived from the amount and the remaining months.
- A basis for ranking, when several goals draw on the same income.
This content is educational and informational only. It is not financial, investment, or tax advice. Consult a qualified professional before making financial decisions.