Well, my short term goal is to create a budget plan and spend low amount of money daily. This is my short term goal but I know that this will have a positive effect on my long term planning.
Striking a balance between short term and long term needs
- Thread starter Joshua Farrell
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Well, my short term goal is to create a budget plan and spend low amount of money daily. This is my short term goal but I know that this will have a positive effect on my long term planning.
Actually striking a balance between two things most especially long term needs and short term needs is one of the hardest thing we humans face, just that we do try our best by planing.
There are many people who are dependent upon short-term goals and they never think about their future,. This could prove to be dangerous for your future. You must plan things in a better way.
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Yeah whenever you are planning about your need, you should plan careful and those plans should cover both your short and long term needs. It will help than doing one and leaving the other.
Well, I haven't been able to do that and may be that is because am still young and trying to patch up things.
Balance is essential in almost all aspects of life.
Striking a balance between these short and long term need will eliminate alot of unforseen circumstances.
It all starts with a clear plan.
Striking a balance between these short and long term need will eliminate alot of unforseen circumstances.
It all starts with a clear plan.
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It requires a strong sense of self discipline to get things right.
It is with this financial intelligence and better financial discipline that you can differentiate between long and short term needs.
It is with this financial intelligence and better financial discipline that you can differentiate between long and short term needs.
I Focus on my Vision: The best simple way to balance the short-term gains and long-term strategy is to direct my every act towards the achievement of my vision and strategy.
In my opinion, this can be achieved by having a well crafted financial plan and religiously following it through despite the thick and thin of life. It would definitely help one financially.
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Very true, it would definitely help one to be financially free.
Having a plan has been always the key to succeeding in whichever endeavor of life
I agree with you, once this plan has the been set and it has been backed up by actions. The financial Goal would definitely translate into reality by virtue of the actions.
I usually use a scale of priorities, which means I only spend money on things that are urgent at the time. By doing this, I am able to save some money for longer-term projects.
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This is a wise method of spending and I believe it would help one in a greater way financially. I have be doing that too and the results I get is quite a good one.
In order to be able to strike a balance between the immediate and long-term requirements, one must keep track of them and rank them in what is described in economics as a scale of preference. Then you have to proceed in implementing your financial decisions based on this rank
It's important to always separate money for future use. There was a mistake I made in the past that I can make now. The mistake is that I make huge money in a month. Instead of splitting the money into three places for reinvestment, short term need and future use, I used large part of it for reinvestment and the reinvestment didn't bring expected profit.
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It is very possible for one to have a balanced financial life, it is very possible for one to be the kind of person one intends to be financially. It all takes a little bit of plans to arrive there.
Your short-term goals and long-term goals are connected. for example, if you intend to save money, then saving short amount of money could make it possible for you to save more for your long-term savings plans.
I think you have raised a very good point. Your goals in the short term can go a long way to determine the likelihood and motivate you to achieve your long-term goals. With that being said, saving money can help you to achieve both time-bound goals.
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This is something that we must understand. If we save money on small items, then in the end we will be able to accumulate much huge amount of money for the future.
It is best to save money by either reducing our purchases on the number of items we want, but do not need or to scrap the idea of buying these things completely. It is easier said than done, though
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