How to Set Financial Goals
This is based on a comment I left on a new user's question, I felt it important enough to share with others who may need some help setting realistic financial goals for themselves.
Sometimes, we're so focused on just getting the money that we forget what we want to do with it. That's the reason for money. Not to just sit unused in a bank, or store under a mattress, but to be used toward another aim. It's like water. Water that just sits in a contain after a while stagnates. Whether it is going toward enriching your life, or accumulating interest and thus working to make even more money, money is for use.
So how you do create your financial goals if you're just starting out?
First, list out how much money it takes to live now.
For example, food, rent, entertainment, bills, clothing, etc. Even if you don't have some of those expenses, just work out how much money you find you need to spend on a monthly basis at the moment. If your goal is to replace your job and work from your home, then don't simply calculate the monthly internet bill, put it all in. Once you have that figure, don't leave out the taxes, add that in. Now you have your first monthly GOAL.
Then, knowing how much your life costs now, work out the cost of the life you WANT, with the tax calculation. You can even do some research. Go on a car website, see how much a loan or lease costs for a car you want. How much the apartment in a certain area you like costs. Do you want to travel? Calculate that. Don't limit yourself. Now you have a VISION for you life, something to accomplish. A mission. A reason why you're on here, making websites, helping people, selling products. It's all for this.
Now be happy. You have a strategy.
Simple as that.
You can even create a vision board, or create a pinterest board with things you want. Look at it everyday, then go to work, knowing what you're getting. You'll never come to a perfect "figure", of course, but at least you have a tangible idea of what you need to have, and the amount per month you need to earn to have it. That's your second GOAL.
Then give yourself a period of time to work toward both. Maybe 6 months for the first goal, and then a year or so for the second goal. It's all a matter of how much work you put in, while always remembering what it is YOU ARE WORKING FOR.