Reasons why people fail to meet their financial goal every year.

[Etini]

As the year starts, people make financial goals. They want to meet up with one financial need or the other. Some had planned to buy a house or a car. At the end of the year like this, they couldn't meet yo with these goals. In this point, I examine the reasons why financial goals were scuttled in the course of the year.

1) Health problems/ unfortunate circumstances: Some people for no fault of theirs have been embroiled in health challenges and unfortunate situations. These can stop you from getting to your financial goals. Some lost a loved one, some were affected by natural disaster. We don't blame this set of people. We just say better luck next time.

2) Lack of Planning: Some people had set goals but they didn't design clear road maps to achieve those financial goals. Some were just doing a charade. That's why their goals remain in the papers.

3) Lack of focus: Some people got distracted along the way. They let their goals to be shaken by other interests. Today, those goals exist just in paper.

As we are winding down, it's time to set new financial goals for the new year and work hard to make it come to reality.

 

[eldavis]

Very good points, one particular problem i have always had to deal with was dealing with unplanned expenses. I believe this is also a major reason why so many persons have failed to meet up with their target. We all have a set goal and while working towards achieving these goals, certain things comes up that would completely throw us off guard. Like recently i have been making plans of starting my own small business and i have list of equipments i want to buy, why making plans for these things i have also had to deal with expenses that have thrown my plans backwards.

 

[Imran Noori]

I think everyone is willing to have an independent financial life and be free on their jobs but as you mentioned there are some problems that prevent people from reaching their goals, one of the reasons could be lack of patience, some people want to be successful in one night.

 

[Abigael]

Those are very reasonable reasons as to why people fail to meet their financial goals. So many of them have set great goals for themselves but at the end of the year, they have not met those goals.

It is so unfortunate when you or someone close to you suffers health problems during the year. This issue makes it so hard to achieve those goals. If it's you, the weakness and physical problems that come with sickness makes it so hard to do anything profitable. If it is someone close to you, you will spend so much money and time healing them that you don't reach those goals.

Other times, this happens due to your own bad spending habits, poor planning or procrastination. With such bad habits, achieving your financial goals is so hard, it is great to work on them.

Lastly, sometimes you don't reach your financial goals because they were just unrealistic. Set something that you are sure to achieve.

 

[Mika]

There might be a lot of reasons why people do not meet their financial goals, however, in my opinion, there are two main reasons for this. People do not reach a financial goal because they have set unrealistic goals. People also do not reach their financial goals because they don't work hard enough for their financial goals. If you are a semi-skilled individual, you are limited from a lot of money-making opportunities because you do not have the skills to work on these tasks, yet when you make a goal to make at least $10K every month, you will never reach that goal because you do not have that capacity. Let's say you have high-paying skill and your goal is to make $ 10k per month, however, if you don't work hard if you are lazy, would you be able to reach your financial goal? You will not be able to reach your financial goals because of these two reasons. If you want to reach your financial goal, work hard to make a lot of money

 

[Yusra3]

There are many potential reasons why people may fail to meet their financial goals every year. Some common reasons include:

1. Lack of planning: Without a clear plan in place, it can be difficult to make progress towards financial goals.

2. Lack of discipline: It can be hard to stick to a budget and save money, especially when faced with unexpected expenses or temptations to spend.

3. Unforeseen circumstances: Life can be unpredictable, and unexpected events such as job loss, illness, or natural disasters can make it difficult to meet financial goals.

4. Lack of knowledge: Not understanding basic financial concepts or how to manage money effectively can make it harder to reach financial goals.

5. High debt: High levels of debt can make it difficult to save money and achieve financial goals.

6. Lack of motivation: It can be hard to stay motivated to work towards financial goals, especially if the goals seem too far out of reach or not worth the effort.

7. Poor money management: Not tracking expenses, overspending, or making poor financial decisions can all make it harder to achieve financial goals.