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There was a time we never bothered about earning, because we had people, either our parent or guardian taking care of that aspect for us, making sure we had what we needed. As adults now that the table shifts and the full responsibilities fall on our shoulder, from earning to spending and the cycle continually repeat itself, we discover that the more we earn, the less we actually have, no matter how much we earn, it doesn't seem to be enough, expenses from left, right and center will always be there to suck out your hard-earned income, at that point, if you still haven't realized, just know that you to have a financial plan and have a goal in place.

Most people think having a financial plan is only meant for the rich or high-income earners, but that is a very wrong assumption, everyone needs a financial plan because setting goals has been shown to help guide us in a specific direction, so we therefore work towards fulfilling the goal by following the laid down plan. By doing this, it's easier to secure a financially, independent future. The random act of just earning and spending with no goal or focus usually leads to a future of uncertainty and nothing to fall back on.

Financial goals can be classified into two types which are:

• Long-term goal
• Short term goal

Their name is quite self-explanatory, long-term goals are goals we set to achieve within a longer period, take Mortgage for example, it takes some years to finish up the savings, or saving for when you retire in the future so that you can have something to fall back on, some people also save their children school funds ahead before they start having children. It's all about planning and setting goals they were able to achieve this.

On the other hand, short-term goals take a shorter length of time to accomplish, you can be aiming to achieve something within a few months or week, but if you don't plan towards that thing, it can as well take you years into achieving it or not even be able to get it done at all if don't work towards it, following set down plan and rules is the right way into achieving progress on your finances.

What are the importance of setting financial goals?

• It keeps you focused

With your set out goal/plan written down also put in mind, it is not easy to get distracted, or spend on impulse because you are always conscious of the fact that you have a goal to meet up at a stipulated time, all of your focus will be on achieving that goal and by following the plan you have, in no tine, you will see the result.

• You take charge of your finances

Setting out plans for achieving your goal gives you more knowledge and control of your finances, you can easily know where to adjust spending and savings, nothing goes unnoticed or unaccounted for, and you can easily go back to verify and keep on adjusting your plan on the process, because there will always be need fir improvement.

• Financial Independence and security

Rome isn't built in a day, it takes time and effort, likewise wealth, if you are seeking to gain financial independence, then you need to start planning now, it's all about being disciplined and making sure to keep to the plans, it's going to involve lots of sacrifices, as long as you stay on the plan, you will achieve your goal.

• Your Priorities are put in place

You know what you want and desire, so you are encouraged to work towards achieving those dreams of yours, not settling for less, and the more we achieve short-term goals, the more confidence we develop in achieving long-term goals.

CONCLUSION,

Setting a Smart goal has proven to be effective in materializing, especially if it's achieving our heart desires, you are more likely to stay focused and determined. So there is no reason to be scared of setting up the goals, even if you've tried and failed before, you can always retry and come back better and stronger.

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