Financial goals are part of our lives. All financial goals in our lives represent either needs or desires.
We are young, but soon, that will no longer be the case. Over time, we will need a car, a house, vacations, we will have a family to support, outings, studies, personal development, hobbies and, more recently, a pension; a pension that we make for ourselves, because the state can no longer support us.
Financial goals: needs and desires
All the needs and desires in our lives represent objectives, goals that involve money to be achieved. Whether they are short-term: vacations, outings, courses, or long-term: purchasing a home, financially supporting the family, children and retirement, they all require money: smaller or larger amounts.
Our money represents the income received from a salary or business. Achieving goals requires planning all of these goals, because unfortunately, not all of the money we receive goes towards buying a car, a house, or supporting our children. We also need to pay for our maintenance, food, or clothing. We can reduce them, but despite this, it is necessary to save money to achieve our goals. Let’s spend less money to have the amounts necessary for large, valuable purchases.
We will have financial goals throughout our lives, whether we realize what they are now or not. To become aware of what a person’s financial goals are over time, I invite you to read the following article: https://www.psihologiabanilor.ro/obiectivele-financiare-si-etapele-vietii/
How do we plan to achieve our goals and when do we do it?
First of all, we need to ask ourselves the question: are our financial goals needs or desires?
When we earn our income, we set aside between 5 and 10% of our income for the important goals of later value, for a car, a house, child support and retirement, then we spend it to support ourselves and for our desires: vacations and outings. What is left over, if any, we set aside to accelerate the achievement of long-term goals.
Our goals, even if they are long-term, are still for us. They will still bring us satisfaction if we achieve them and, even more so, if we achieve them faster. And they bring us dissatisfaction if we do not achieve them.
Financial goals: their analysis
Goals represent the intrinsic motivation of planning, of working towards them. Requiring large amounts to achieve them, planning will begin long before the acquisition. If we are talking about purchasing a home, it is necessary to save 5-6 years before looking for a home, because, even if we take it on credit, we need a minimum down payment. Depending on the value of the property, it represents a substantial amount, considerably higher than the monthly income. The same thing happens in the case of the goal of supporting the child for his studies or for his house. Although the child is now 2 years old or maybe not even born. The earlier you save, the more you will have achieved the goal and the effort will not be as great.
Time and money are interdependent. We need a long period if our financial effort is small, to be able to raise a large amount of money and a short time if we have a large financial allocation power to raise the same large amount of money to achieve an important value objective.
Since most of us are not in the second option, it is necessary to plan a few years before the moment of achieving the objective and this is where investments can help us.
How can we achieve our financial objectives: needs and desires?
We have determined that we need a large amount of money and we will involve a longer period until we achieve our objective. The greater the return on our money, the greater the profit from their investment, the shorter the period of time will be.
Financial goals: needs and desires achieved through investments?
It depends on the type of investment. There are investments on the market with a high risk of losing money and solutions that do not integrate this risk. Solutions are chosen depending on the period required to achieve the financial goal, the amount required for the total investment and the amount allocated monthly. Investments benefit from the effect of capitalization, an effect explained here: https://laurentiumihai.ro/puterea-dobanzii-compuse/
Investments on the capital market are not a “game of chance”, but a science. Investments have strategies, investment techniques, they are a science. The capacity of a large company will represent the power of the respective investment and the reduction of your effort, as well as the risk involved. In non-speculative investments, the risk involved is that of the fluctuation of the level of return. What does this mean? It means that in a year your profit level may be higher or lower. Over a long time horizon, over 15-20 years, you benefit from the increase in your profit level because your investment has appreciated throughout this time. Similar to a property whose value can increase or decrease over a period of several years. The value of the property appreciates over time, plus investments suppress the risk of devaluation due to inflation.
There is no right time to think about planning financial goals!
Financial goals: needs and desires – planning
Financial goals: needs and desires are determined in our lives. We are human beings and regardless of our individual characteristics, we have basic needs at every stage of life. https://www.psihologiabanilor.ro/obiectivele-financiare-si-etapele-vietii/
There is no best time to think about what we will achieve. Most of the time people are motivated by new beginnings, like the beginning of the year, but this is only an extrinsic motivation. In financial planning, not only extrinsic motivation is necessary, but also intrinsic. That is why there is no right time to plan a financial goal.
The important thing is to find that goal for which we work, what motivates us to work and live. That is the important goal and when we discover it, we start planning to achieve it. Even if we have not discovered the engine of the action of saving or investing, it is necessary to look for those goals. The sooner we discover them, the more time we will have to achieve it in an efficient and optimal manner for us.
The impact of advertising in our lives
The impact of advertising in our lives is very strong. They can distract us from important goals for us and can cause us to spend. Advertisements convey the emotion that we will feel much better if we have a new sofa, a new dress or pair of shoes or an exotic vacation. Advertisements influence us to allocate resources for the now, losing sight of the FUTURE. It can be a brilliant one or burdened with financial worries or debts. The decisions made now determine the future. https://www.psihologiabanilor.ro/acum-acum-nu-mai-tarziu/
I also invite you to follow Ioana Mărgineanu from Family Budget https://bugetdefamilie.ro/2020/07/31/gesturi-mici-care-iti-pot-schimba-viata-concurs/ and apply financial and shopping tricks for the health of your pocket!
If we do not plan our future and that of our family, when the state no longer supports us with a sustainable budget for paying pensions, but not only; NOW we must plan our future. We determine our future. We are directly responsible for our and our family’s financial future.
Good luck with your money awareness and financial goals!
©2025 PSIHOLOGIA BANILOR - All Rights Reserved - Powered by 
