Basic principles of wealth creation. Rule 1, set goals

Rule 1: Goal setting

Goal setting is the first and most fundamental step in the wealth creation process – when you have a specific goal, the rest of the financial planning process falls into place.

Setting specific goals helps you stay focused. As the old adage goes, if you don’t know where you’re going it’s impossible to get there!

A successful wealth creation plan should cater for all financial goals throughout your life (including in the short, medium and long-term) and have the flexibility to change whenever your goals change.

Before setting your goals, find out where you are standing now:

Use Count’s budget planner and calculate where you stand financially.

Then download Count’s Goal Planner to help you decide what your short term, medium term and long term goals are.

Go to Rule 2: Pay yourself first

As at 13 May, 2006
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