How can I prioritize my financial goals?

Prioritizing financial goals is essential to ensure that you allocate your resources effectively. One effective way to prioritize your goals is to evaluate them based on their urgency, impact, and achievability. Urgent goals, such as paying off high-interest debt, should be prioritized over non-urgent goals like saving for a vacation. High-impact goals, such as saving for a down payment on a home, should also take priority over lower-impact goals like buying a new car. Finally, consider the achievability of each goal based on your current financial situation. If a goal is unachievable, consider breaking it down into smaller, more achievable goals. By using this framework to evaluate and prioritize your financial goals, you can focus your resources on the goals that matter most and make steady progress towards achieving them.