The Importance of Making a Short-Term Financial Plan
Once you’ve established your long-term money goals, the next step is to create a short-term financial plan. But how do you choose short-term goals that align with your long-term plan? For help specifically with paying off credit card debt, get the free 7-Step Credit Card Debt Slasher.
How to create a short-term financial plan
How do you work backward from your vision of the far-off future, setting smaller goals that move you in the right direction?
On this episode of Queer Money, we share five steps to creating a short-term financial plan that supports your long-term goals, describing how to spend less than you make and put the difference toward your financial goals. We explain why paying off debt is usually the fastest way to grow your net worth and challenge you to leverage tools like Capital One Shopping to spend less on the things you like to do already.
Listen in for insight on designing a social calendar that fits your budget and learn how to set intentional short-term goals that move you closer to a BIG reward down the road.
Listen to the 5 simple steps to make a short-term financial plan:
- 5 steps to creating an effective short-term financial plan
- Why it’s crucial to choose short-term goals that support your long-term financial plan
- How to improve your cashflow by growing the gap
- How to increase your income with overtime, a part-time job or side hustle
- Why paying off debt is the fastest way to grow your net worth
- The tools available to help us spend less on the things we like to do already
- Why LGBTQ individuals go into debt keeping up with our friends
- How to build a social calendar that fits your budget
Resources from this episode:
- 7-Step Credit Card Debt Slasher Tool
- 5 Steps to Make a Long-Term Financial Plan on Queer Money EP291
- How to Side Hustle with I Like to Dabble on Queer Money EP233
- 10 Easy Ways to Find Extra Money on Queer Money EP267
- Credit Card Debt Slasher Toolbox
- Capital One Shopping
- How to Have a Fabulously Gay Social Life
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Queer Money Facebook Group
- Queer Money on Instagram
- Queer Money on YouTube
- Subscribe on iTunes
- Email [email protected]
Previous 3 Podcast Episodes
- 5 Simple Steps to Make a Long-Term Financial Plan
- 3 Things to Know about Stocks to Grow Wealth
- 6 Ways to Better Manage Money
We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com) 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.