The Simple Rupee:Establishing Financial Goals

In my previous article,I had wtitten about the six- step process for Financial Planning. I will be taking up each step separately and will elaborate some more on each step.My endeavour is to present this in an easy -to- understand manner.Though the process of Financial Planning is applicable to all,I would like to direct these articles especially to the younger lot who are just setting out on the path to financial freedom.Savings is definitely not the primary focus in our lives when we think we have our whole life ahead of us!But let me tell you that attaining financial 'nirvana' is far easier when you start early."When you keep saying you will do it tomorrow,then your tomorrow will never come."Let's begin with the first step:
Establishing Financial Goals.All of us have different desires.It is important to identify your desires and financials goals.What are you saving for?Could it be for,
1. College education
2. Marriage
3. Buying a house
4. Travelling the world
5. An emergency fund
6. That laptop you've always wanted?
I don't know what your desire is but if you have to chart a course from point A to point B, you need a map.Similarly,if you have a financial goal,you need to be more specific than merely saying,"I want to be rich."You must quantify your goal in rupee amounts and time frames."I want a million bucks by the time I'm twenty-five is more specific !The main thing is,you need to have a vision of where you want to be or you will probably never get there.
I end this article with a quote from Ralph Waldo Emerson,Shallow men believe in luck;Wise men in cause and effect.