Financial planning helps people set what type of goals?

Financial planning is a comprehensive approach that enables individuals to identify and set various types of goals related to their personal finances. When individuals engage in financial planning, they typically look at both short-term and long-term objectives.

Short-term savings goals might include saving for vacations, emergency funds, or upcoming big purchases, which require immediate attention and strategizing. On the other hand, long-term investment goals often focus on retirement planning, education funding, or wealth accumulation, requiring a more extended time horizon and investment strategy.

By incorporating both types of goals into a financial plan, individuals can create a balanced approach that prepares them for immediate needs while also paving the way for future security and prosperity. This holistic understanding of financial goals underscores the importance of comprehensive planning in achieving financial stability and success over time.