90-Day Money Reset, Step 6: What are your "hidden" goals?
Welcome to the 90-Day Money Reset! Over the next 30 days, I'm going to walk you through 9 simple steps to help you clear the overwhelm, get clarity on your finances, and finally put a plan in place that works. This post covers Step 1 and if you'd like to receive each next step directly in your inbox as we go, just click here to join the challenge and I'll guide you through the rest of the reset, one step at a time.
Step 6: Other should-have goals
Ok, now let’s complete your goals. Between the must-have and nice-to-have goals, there is an important section that most people leave out: the should-have goals.
No, not the holiday abroad. More like an education fund for your kids.
Here's what I want you to do next:
Set your should-have goals. These aren't the things you necessarily need for you to survive, but can make life much easier and less stressful later on. For me, this is my kids’ education fund.
Calculate the amount needed. Consider how many years away you are from when you need that fund, as well as the impact of inflation and tax.
Then depending on the timeline, make assumptions on returns to determine how much should be invested towards this goal monthly and yearly.
Write down your monthly commitment for the next 90-days
NB tip:
Holding this money in the right “container” is essential. Shorter-term goals need low-risk containers like a savings account, while long-term goals should prioritise growth, so higher risk investments like equities.
Now you have a more complete view of all the goals you should have.
I'll help you prioritise these inside Your Money Gameplan, so that you're not trying to everything at once or get overwhelmed by doing to alone.
Here's a picture of me waiting for you inside Your Money Gameplan
We have a short sprint left before the live Q&A on 28 May. So sign up and get it done before then to be invited.
Speak soon,
Carla