How do you set your financial goals? Are there spending principles you follow?

How i set my financial goal

The end goal is to retire. Target 10-13 years.

studied 25years, work 25years , enjoy 25 years

I prefer dividend method instead of selling off growth stocks to support retirement lifestyle, because it hard to sell when your stocks is so green, and when red day you feel not worth to sell. Emotional struggle.

1) know how much you need in a month

2) work backward with a conservative 4% dividend p.a. To calculate total amount i needed to invest.

3) set a budget to contribute monthly to dividend stock such that can hit the target by 13years max.

4) invest in growth stocks to speed up the capital build up process.

How to limit my spending

The best way to save money is actually try to make yourself busy.

Get a part-time job/moonlighting. As you busy working , you wont have time to spend Money. Because when you have too much free time, it is hard to resist the temptation.​​​

Hey Anon! I'm still struggling with this one on setting a realistic daily/weekly/monthly financial goal to stick with to ensure that I do not overspend unnecessarily. Personally, I try to set aside money from my allowance - and i WILL NOT touch this amount at all! As for lifestyle choices, try limiting the days you hang out with your friends, or opt to chill at a friend's house instead to save money on eating out at hotpots or cafes.