Goal setting is the most important part of managing family finances. Goals and objectives provide scope around why we do what we do, why we work so hard and what we are working towards. Your goals may include travel, buying a new home, a new car, experiencing a once in a lifetime event, a gift for your child, home renovations. A goal can be anything. A goal is whatever is important to you and your family.
I am a major fan of goals. In fact, goals-based budgeting is what I preach and teach. By having goals as the driving force behind your household budget, you will have more incentive to spend within your means and save towards expenditure that is more satisfying.
Here are some posts I have written based around goals: