Project 1: Prioritizing Goals/Rough Draft

Instruction

Setting financial goals is important to manage your money effectively. The purpose of this project is to help you understand the importance of setting financial goals. This project will require you to set the following:

• one short-term goal that can be achieved in less than a year
• one intermediate-term goal that can be achieved in one to five years
• one long-term goal that will take more than five years to achieve

You are nearly finished with your project. You have identified and constructed short-term, intermediate-term, and long-term financial goals in the previous lessons, and all of your work should have been saved to your personal computer.

Now it is time to prioritize your three goals. Using a word processing software and referencing the work you have already completed, list your three financial goals in order of importance. Use the information below as a guide to write your assignment.

When you are finished, turn in your assignment to your teacher for grading and feedback.

#1 Goal: [Answer the following questions in paragraph form.]

• What is your financial goal, with explanation of why it is most important?
• What is the amount of money needed to reach your goal?
• What is the deadline to reach your goal?
• How many months or years are needed to reach your goal?
• How much money do you need to save each month to reach your goal?
• When do you plan to start saving? Be specific and provide an actual date.
• Do you plan to add income (e.g., apply for a job) or supplement your income (e.g., work extra hours) to reach your goal?

#2 Goal: [Answer the following questions in paragraph form.]

• What is your financial goal, and why is it your second goal?
• What is the amount of money needed to reach your goal?
• What is the deadline to reach your goal?
• How many months or years are needed to reach your goal?
• How much money do you need to save each month to reach your goal?
• When do you plan to start saving? Be specific and provide an actual date.
• Do you plan to add income (e.g., apply for a job) or supplement your income (e.g., work extra hours) to reach your goal?

#3 Goal: [Answer the following questions in paragraph form.]

• What is your financial goal, and why is it your third goal?
• What is the amount of money needed to reach your goal?
• What is the deadline to reach your goal?
• How many months or years are needed to reach your goal?
• How much money do you need to save each month to reach your goal?
• When do you plan to start saving? Be specific and provide an actual date.
• Do you plan to add income (e.g., apply for a job) or supplement your income (e.g., work extra hours) to reach your goal?