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Basic Finance
How Credit Affects You
Preparing for Home Ownership
Steps for Buying a Home
Life as a Homeowner






 
Additional Resources
Module 1
Basic Finance
Money Management
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Did You Know
  • You can create a saving and spending plan that is realistic for your lifestyle.
  • You can stick to saving — both long- and short-term — to meet your goals.
  • You can make the most of your money and have more to save.
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Your Financial Goals

Short-Term, Medium-Term, and Long-TermGood money management skills help you make the most of your money, plan for your future confidently and accomplish your financial goals and your dreams. And it’s much easier to manage your money when you have a goal in mind.

Financial goals are simply plans for what you want to do with your money. Here are three types of goals:

Types of Financial Goals

Timeframe to Achieve Goal

Examples

Short-term 1-2 years Buy a car, take a family vacation, purchase new furniture, save for emergencies, purchase a new tool for the garage or work
Medium-term 3-5 years Have the down payment to buy house, pay off existing credit card debts or student loans
Long-term More than 5 years Send children to college, plan for retirement

Take a moment now to identify your financial goals in each category.

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