By Bethany Narvaez
Kaylee Jensen/The Collegian
Students can learn good financial behaviors to achieve goals in life, a NE Campus financial aid specialist said during Setting Goals: Getting There Nov. 10.
“Everyone has a goal, and most goals cost money, like college,” Joe Rodriguez said. “Successfully reaching a goal requires action.”
Goals can be short-, medium- or long-term. Some life goals involve money, and others do not.
Short-term goals are achievable within 12 months such as replacing a car tire or buying a new laptop. Everyone should avoid borrowing money or accruing interest to achieve short-term goals, Rodriguez said.
Medium-term goals are achievable within one to seven years such as a car purchase, a wedding, a baby. These goals are more expensive and require a greater amount of time and money, he said.
Long-term goals require seven or more years to complete such as graduating, buying a house or retiring.
“Sometimes you have a goal, but then you have to restructure the timeframe because unexpected things occur,” he said.
Determining the difference between wants and needs is an important part of setting and achieving financial goals. One should determine true needs to help set up good financial habits, Rodriguez said.
His tips for good financial habits include setting low credit card limits and carrying only a pre-set amount of cash while shopping. Another good financial habit is using credit cards only for large income-producing items.
Sometimes goals can get derailed because of finances, and being aware of good financial goal-setting can help keep them on track, Rodriguez said.
