MEDIUM TERM FINANCIAL GOAL

 

MONEY MANGEMENT

PART– 3 MEDIUM  TERM FINANCIAL GOALS

What is Medium Term Financial Goal?

Medium term financial goals are those goals, you want to complete within 5 years for example buying a car, saving for college, or starting a business. These goals are usually moderate risk.  These mid -term goals refer to your income and expense.  Irrespective of your occupation and background, setting medium-term goals can support you to plan your upcoming success and help you to stay motivated.

Knowledge about some medium-term goals can encourage you to generate some for your own personal and professional development. In this blog, we share some examples why they are important, and provide guidelines.

 When setting medium-term goals in your personal life, you must focus crafting 3-5 proper aims.   Decide the areas you want to progress. These can include career and job, health, training, and saving a specific amount.

Given below some examples of mid-term goals:

What is a medium Term financial plan?

A Medium Term Financial Plan is shaped yearly & will set out detailed budget & expenditure plans. Mid-term planning acts as a link between long & short term planning. Covering a period from one to five years, it provides noticeable milestones that guide you towards long-term goals while dealing day-to-day operations successfully.

 

Wrapping up

Mid-term goals are essential because they help you assess your progress in your profession as well as personal improvement journeys. Short term, mid-term & long term goal are regularly linked. In some situations, several short term goals collected to form medium term goals, which combine to help reach a long term goal.