Set financial goals

Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

When asked, many people can describe several financial goals. The question gets more complicated when they are asked to be specific in terms of the time frame, dollar amount, and their success in achieving those goals.

People that reach their goals tend to be able to not only know how they need to save but include that saving into their spending plan each and every month.

The following resources may assist you in setting your financial goals:

Life Stages: Preparing Financially for a Family

Setting Financial Goals

Thinking Through the Finances of Having a Child

Setting Up a Spending Plan

Creating a Spending Plan

Having a Child Tasks

1. Protecting against risk
2. Updating your estate plan
3. Arranging child care
4. Revising your spending plan
5. Saving for your child’s education

Revising your spending plan Subtasks

1. Set financial goals
2. Determine your income and expenses
3. Develop a spending plan
4. Understand the income tax impacts of having a child


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106