In this blog series, we discussed the importance of knowing where your money goes (Part 1), the negative impact of getting behind on your bills, and needing to understand how much income is coming in and from where each month (Part 2). In Part 3, we considered how debt can rob you of your dreams and provide you with a strategy to help keep debt from destroying your dreams. When dealing with a debt collector, handling the situation responsibly and protecting your rights as a consumer were topics covered in Part 4 of our series. So, this post will be the final one in our series, “Your Money, Your Goals.”

That being said, everyone has a different idea of the future they want to build. So ask yourself, what do you want to accomplish in the near future? What do you want for yourself and your family in the long term? These ideas of your future are your hopes, wants, and dreams.

It’s also essential to think about your values, the things that are meaningful to you and your family. Your values help shape how you prioritize what you do with your time, energy, and even money. If your goals support your values, you’ll be more likely to prioritize them, which gives you a greater chance of accomplishing them.

But they don’t just happen on their own. Accomplishing your dreams means thinking about the money you need to help make them come true.

Setting goals along the way is an excellent strategy to help you achieve your dreams. Some plans may take weeks or months, like saving money to buy holiday gifts or a new mattress. These are short-term goals. Others may take months or even years to achieve, like sending your child to college or paying off a large debt. These are long-term goals.

While hopes and dreams can motivate us, they’re often open-ended or vague. That makes it hard to build a plan to reach them.

Finally, here are some essential principles for managing money based on personal goals:

  • Set financial goals.
  • Create a budget
  • Live below your means.
  • Pay yourself first.
  • Avoid debt.
  • Invest your money.
  • Get help from a financial advisor.
  • Track your spending.
  • Set financial milestones.
  • Be patient.

It takes a lot of time and effort to reach your financial goals. Keep going even if you don’t see results immediately. Just keep working at it, and you will eventually reach your goals.

Managing your money can be challenging, but it is important to remember that it is a journey. By following these principles, you can set yourself up for financial success.


Larry Marvin
LifeCrafter Money $ense


Go to Consumer Financial Protection Bureau for more detailed help and information.