Definitions
A goal that takes a longer time to achieve than short- and mid-term goals
Long-term goal
Goal: Wanting to buy a new pair of shoes within the next few months
Short-term goal
Water
Need
Something you must have in order to survive
Need
Goal: Wanting to get a summer job
Short-term goal
Concert Tickets
Want
Something that you would like to have but can live without
Want
Goal: A high school freshman wanting to graudate high school
Mid-term goal
New phone
Gray Area
Something you want to accomplish in the near future, usually within a year
Short-term goal
Goal: A freshman in high school wanting to graduate college
Long-term goal
Laptop
Gray Area
Something to aim for in five years
Mid-term goal
Fill in the blanks:
______-term and ______-term goals are often the building blocks of ______-term goals.
SHORT-term and MID-term goals are often the building blocks of LONG-term goals.
Fill in the blanks:
It is important to prioritize your spending on ______ before ______.
It is important to prioritize your spending on NEEDS before WANTS.