Setting Financial Goals Critical for Financial Freedom

Miriam Maku Amissah, Head of Client Experience at Stanbic Investment Management Services (SIMS), has encouraged young Ghanaians to set financial goals early in life. She made this statement at the ‘Smart Start Finance Series – Start the Year Right Conference 2024’ held at the Stanbic Incubator. Speaking at the event, Miriam Maku Amissah, advised participants that the best time to begin setting their financial goals was immediately. She said, “A new year provides an excellent opportunity for you to assess the past year and begin to set achievable goals for the new year.

Just like most religious bodies have themes for the year, we must also have themes regarding our finances.  It is important to set financial goals because they affect whatever plans are set for the year. Whether it is weight loss goals, personal growth, or academic goals, they all involve money. Therefore, to have a fruitful year, you must set financial goals to help you achieve your personal goals. Miriam also addressed some of the challenges in setting practical financial goals and explored some ways to tackle them. She said that, “Admittedly, setting financial goals can be difficult. Many setbacks hinder us from achieving the goals we set for ourselves.

Fortunately, there are hacks for overcoming these setbacks. one of the things that I advise is to seek professional advice for your financial goals. Getting a professional who understands how the market works is necessary to explain things to you and guide you in setting practical goals that will bring about the best results. Another thing you can explore to do is to implement systems for accountability. If you do not have someone you are accountable to, it is easy to get tired along the way. You must have a support system that helps you get things done.”

“Goals can change within the year and need to be updated. We must learn from our mistakes and develop better ways to achieve our goals. As the year goes on, your goals may change rapidly, and you may have to make some swift decisions to update your goals. Do not give up when you face a stumbling block; strategize and modify your goals to fit you better. I am certain that you will be able to meet your goals this year.”

The Smart Start Finance Series – Start The Year Right Conference 2024 is a financial literacy event hosted by D.Bredu Financial Academy. Geared towards young individuals, the conference aims to equip participants with essential skills and knowledge for effective financial management and growth. The primary goal is to enhance financial literacy among the youth, contributing to a more financially informed and empowered generation in the country.