What’s the Influence of Goal Setting on Financial Achievement?

Do you set weekly, monthly, or yearly goals for finances? What about bigger long-term goals like an emergency savings fund or retirement goal? Setting goals for your financial plans is important, according to one research project.

A recent Lincoln Financial Group consumer sentiment tracker study found that plenty of consumers in the United States are feeling the financial strain after a difficult year in 2022.

While two out of three people say they are getting by or not in trouble financially, the other third report the factors like debt, inflation and market volatility are affecting them. One of the biggest distinctions between the two groups is that those who had specific financial goals in the last year were up to three times more likely to say that the aspects of their personal finances improved during that same year.