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5 Simple Steps to Make a Long-Term Financial Plan

The Importance of Making a Long-Term Financial Plan

If you’ve had the same long-term money goals for years, but you’re struggling to make progress, delayed reward discounting may be to blame. This is especially true of folks trying to pay off credit card debt.  For help specifically with paying off credit card debt, get the free 7-Step Credit Card Debt Slasher.

How to create a long-term financial plan

Big financial goals like saving for retirement or paying off a mortgage take several years to achieve. And it’s very challenging to say no to immediate gratification in favor of a bigger reward down the road.

So, how do you build a long-term financial plan to work toward those once-in-a-lifetime goals? And more importantly, how do you develop the discipline to stick with it?

On this episode of Queer Money, we share five steps to creating a successful long-term financial plan, explaining how your long-term, short-term and daily goals influence each other. We weigh in on how to choose your long-term QUEER money goals, challenging you to open separate accounts to fund each goal and automate the process of saving.

Listen in for insight on identifying the WHY behind your long-term financial plan and find out why it’s important to share your money goals with your LGBTQ friends and family!

Listen to the 5 simple steps to make a long-term financial plan:

Topics Covered

  • Why we have such a hard time reaching long-term financial goals
  • How long-term, short-term and daily financial goals influence each other
  • The 5 steps to creating your own long-term financial plan
  • Choosing 1 to 3 QUEER money goals (Quantifiable, Understandable, Executable, Exciting and Relevant)
  • The value of knowing the WHY behind your long-term financial goals
  • Why we suggest opening separate accounts to fund each goal
  • How to automate the process of saving for your long-term money goals
  • Why we recommend sharing your financial goals with your LGBTQ friends and family


Resources from this episode:


Previous 3 Podcast Episodes


We’re David and John Auten-Schneider, the Debt Free Guys ( and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.

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