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GOAL ASSIGNMENT – 15 points possible State a specific Financial Goal – (3 pts) Direct the Rider – List specific directions that will help you accomplish your goal. (4 pts.) Tips: -Follow the bright...

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GOAL ASSIGNMENT – 15 points possible
State a specific Financial Goal – (3 pts)
Direct the Rider – List specific directions that will help you accomplish your goal. (4 pts.)
    Tips:
-Follow the
ight spots. Think about what is already working for you and clone that behavior.
        -Script the critical moves. Don’t think big picture, think in terms of specific behaviors.
-Point to the destination. Change is easier when you know where you’re going and why it’s worth it.
Motivate the Elephant – Discuss what you can do to get your emotions connected to the goal. (4 pts.)
Tips:
    -Find the feeling. Try to feel something about your goal.
    -Shrink the change. Break down the change until it no longer spooks the Elephant.
Shape the Path – Describe how you will change your environment or situation to help you succeed in accomplishing your goal. (4 pts.)
    Tips:
-Tweak the environment. When the situation changes, the behavior changes. So change the situation.
        -Build habits. Look for ways to encourage habits.
Answered Same Day Feb 14, 2021

Solution

Parul answered on Feb 17 2021
155 Votes
In the golden words of investment wizard Wa
en Buffet, “Do not save what is left after spending, but spend what is left after savings”. One thing I understood and can vouch for is that setting the financial goals are extremely important in life. My financial goals revolve around how can I manage my finances better and target a specific savings. Therefore, my financial goals is based on my earnings, expenses, investment plan and contribution to future.
· My first financial goal is to repay all by debt by end of this year, Dec 2020
· My second financial goal is to set aside an emergency fund where I invest at least $120 per month in mutual fund for next 3 years. This would help me generate a corpus of $4838 where principal amount is 4320 and would receive an interest of 12% on that.
· My Third financial goal is more about saving for my retirement.
Financial Goal 1
· First financial goal is focused on meeting the short-term target. I am under the student loan for completing my education and at present have around $7340 remaining that is to be re-paid to the bank. Cu
ently, I am already paying my interest of $100 per...
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