Setting Financial Goals Is Exactly What You Need Today

Do you have difficulty setting and achieving financial goals? Did you know that they are fundamental steps towards your financial success? Read the text and find out more!

The financial targets are part of good financial planning, without it, you don't know exactly where you want to go and even if you do, you can't identify what you need to do to achieve your goals efficiently.  

With goals, achieving financial balance and achieving your objectives becomes even easier and even faster. 

In today's text you will discover what they are financial targets and how to define them to achieve success and financial balance. 

See below what you will learn in this text:

• What is a financial goal?
• How important is it to have financial goals?
• How to comply?
• What are Nubank's Caixas?
• How to start saving money in Nubank's Caixas?
• Conclusion.

What is a financial goal?

Financial goals are quantified objectives that are intended to be achieved within a given period.   

They are called financial because they have a monetary nature, that is, they are related to money: amounts to save, separate, invest, save, reduce, replace, etc.

Furthermore, they may be related to changes and adoption of habits that can positively influence finances. 

How important is it to have financial goals?

The lack of financial targets and planning may be the reason you never achieve your goals. 

Even if you are financially independent and have a good income, if you don't have goals, objectives and good planning, you will never be able to make your money have value.

Furthermore, balancing and managing your finances will always be challenging, and as a result, over time, your resources may not be sufficient and may no longer meet your needs.

With clear goals and objectives, you can map out routes that can help you gain control over your finances and give your money the value it deserves. When money is valued, it yields, grows and becomes a tool for profit in your personal and financial life. 

How to achieve financial goals?

The first step to achieving your financial goals is to have discipline and focus. You need to evaluate the objectives and consequences related to achieving your goals. 

Of course, the hardest part is taking the first step, but from then on, everything becomes easier and becomes a matter of habit. 

Start by making small changes and see what else you need to do to reach your goals. Don’t forget to celebrate small achievements, as they are also important to keep you motivated. 

It is very important that you have solid goals and clear financial goals, This is the only way to guarantee success in the endeavor. 

Furthermore, it is important to diversify the period, that is, have short, medium and long-term goals. 

One of the great advantages of goals is that you can adjust and redefine them as you progress.  

However, it is important to take a break to analyze what is working, what needs to be changed and the progress made.

As we are talking about monetary goals, we know that they can always be linked to financial balance, financial independence and even wealth growth. 

So, below you will find some examples that can help you know where to start. Check it out! 

#Financial goals: emergency fund

A financial reserve It is the first step for anyone who wants to be financially successful. Without an emergency fund, all your financial planning can go down the drain at any moment. 

We can say that it works like insurance, but it brings more advantages. 

The first step to creating an emergency fund is to define how much you need to have as a reserve. 

To do this, add up your fixed and variable monthly expenses, then define how much you will save each month to build up your emergency fund. 

Experts point out that an emergency fund needs to have enough to last us for six months if we lose our main source of income. 

For example, if your monthly expenses total R$1,400,000, your financial reserve should ideally be at least R$1,800,000. 

A emergency reserve It should not remain idle in your account, you can make it yield by investing in an Investment Fund.

However, it needs to be low risk, highly liquid, and available for withdrawal when you need it. 

Among the best alternatives, we can recommend, for example:

• CDB;
• Fixed Income Funds;
• LCI and LCA;
• Direct Treasury.

If you don't want to purchase any product, you can leave the money saved in a digital lace account. 

Once you have decided how much you need and where the reserve money will be invested, start saving every month to build up your reserve.

#Pay off debts

According to the CNC, 77.51% of Brazilian families are in debt, the highest number in 12 years. 

Furthermore, she also points out that approximately 80% of Brazilians have debts to pay. 

The numbers are frightening and show how important it is for Brazilians to have short-term financial planning and goals to solve this problem. 

So if you have accumulated debt, set paying it off as an urgent financial goal. 

#Invest

With good investments you can achieve the most varied goals: financial independence, expanding assets, early retirement, buying a house, etc. 

Therefore, it is essential to know this universe to start investing.

Speaking of which, here on our blog you will find a lot of content that will help you become a successful investor. Don’t forget to start your knowledge journey. 

Once you know where to start, the ideal is to set aside at least 15% of your monthly income for investments. 

Certainly, this is one of the financial targets most important for those who want to be financially successful. 

#Financial planning

The basis of the financial planning It is knowing how much you earn and how much you spend, from there, discovering how you spend it and thus, gaining control over your money. 

Good financial planning also involves taking actions to stimulate the economy and make money grow.

If you can't manage your money, you won't be able to make it yield results, so you'll always be financially stagnant, and idle money loses value over time. 

Then there will come a time when your bills will not add up and you will be short of money at the end of the month.

Therefore, it is important to have financial planning and adopt good financial habits that help you control your expenses and also your income. 

Financial goals are part of efficient financial planning. 

Now that you've discovered what financial goals are, their importance and some examples that can revolutionize your relationship with money, we still have solutions that can help you. 

There is a new tool on the market, launched by Nubank, that can help you have discipline and achieve your goals. 

See more below!

What are Nubank's Caixas?

Nubank's little boxes are a tool available in the app that helps you save money to achieve goals, they are like financial targets. 

However, the money saved has a yield of up to 100% of the CDI from the first business day.

Additionally, it is possible to obtain higher returns in the long term.

In this tool, the customer can separate the money for different plans. There are currently 5 alternatives already defined in the app, which are: 

• Emergency reserve;
• Take a trip;
• Renovate the house;
• Focus on career;
• My dream purchase.

However, there is also a button that allows you to create another goal. When creating a box, you can customize it according to your goals. You can even customize the background photo. 

You can also choose the redemption date for the invested amount, but in the emergency reserve fund, the amount saved may be available for withdrawal within one business day or at the same time. 

Each box has pre-suggested investment options that help you achieve an adequate return. 

Certainly, this tool is a great alternative to define financial targets and help you organize and save your money. 

To understand better how Nubank Caixas work, watch the video below until the end.

How to start saving money in Nubank's Caixas to achieve your financial goals?

First, open your app and click on the “💲” (dollar sign) icon. Now, click on the “Boxes” > “Start saving” button. 

The first option that appears is the box to create an emergency fund, but below you can choose other goals.

Click on the desired option and define how much you want to save and when you want to withdraw. You can start saving from R$1.

It is worth remembering that you will need to have money available in your account, as the amount saved will come out of your balance.  

After filling in the fields, click on the purple arrow and check the information on the next screen. You can also check more details about the selected investment product by clicking on the “Learn more” tab.

Finally, click on the “Confirm” button and enter your password. That’s it! You’ve created a little box, or rather, a financial goal. 

Conclusion

The financial targets are essential tools for achieving success and financial balance. Therefore, they should not be discarded by those who wish to achieve these goals. 

So, be sure to put our tips into practice and change your habits today.

A great habit to adopt is also to follow the news of our blog. Here, you will find lots of content that will help you invest, save, economize, earn extra income, organize your finances and much more!