Mutual fund SIP of Rs 25,000 per month can help you buy house: Here's how

economictimes.indiatimes.com:

Financial goals work the same way. They provide you with a clear path, ensuring that your financial journey leads to a rewarding destination.

Let's dive into the story of Rajesh Kumra, a fun-loving guy from Mumbai. Rajesh loved to live in the moment, spending his hard-earned middle-class salary on the latest gadgets, fancy dinners, and spontaneous trips. But he was forced to rethink his ways one sunny afternoon over a cup of chai with his old friend, Suresh CN. Suresh, with a twinkle in his eye, casually mentioned that he was about to buy a new house. Rajesh, both surprised and curious, asked him how he could manage such a feat especially in a costly like Mumbai since their salaries were not too different. Suresh smiled and said, «It's all about setting financial goals, buddy. I've been planning and saving for years, and now I'm ready to make my biggest and most expensive dream a reality.»

This little anecdote highlights the magic of financial planning. Setting goals isn't just about saving money but creating a roadmap to turn your dreams into reality. After all, 'A goal without a plan is just a wish'.

Remember, if you don't know where you're going, any road will get you there, but the place you reach may not be where you wanted to go in the first place!

Without financial goals, your spending and savings habits may lead you nowhere in particular, causing stress and uncertainty about your future.

Types of Financial Goals and Their Costing

So, what kind of goals do people usually have, and how do you figure out