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Journey To Launch

Episode 352: How To Set & Prioritize Financial Goals In The New Year

Dec 13, 2023
Learn how to set and prioritize financial goals using concepts from the host's new book. Explore the importance of a systematic approach, understanding the difference between lead/domino goals and gap goals. Discover tips for organizing financial goals and the five stages of the financial journey towards independence. Find out how to support the podcast and spread its message.
31:06

Podcast summary created with Snipd AI

Quick takeaways

  • Categorizing financial goals into different categories helps prioritize and allocate resources effectively.
  • Mindset and habit goal fuel are crucial for achieving financial goals and require constant improvement and adjustment.

Deep dives

Understanding the Importance of Categorizing Your Goals

This podcast episode explores the significance of categorizing your financial goals into different categories: income, spending, saving, investing, and debt payoff. By categorizing your goals, you gain a clearer understanding of what needs to be prioritized and how to allocate your resources accordingly. Furthermore, the episode emphasizes the distinction between lead or domino goals (income and spending) and gap goals (saving, investing, and debt payoff). Lead goals directly impact your ability to achieve the other gap goals, and it's essential to focus on increasing income or cutting back expenses to generate the necessary funds. The episode also introduces the concept of goal fuel, which includes mindset, habit, and income and expense goals that provide the energy and motivation to accomplish your financial goals.

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