Financial goals are important to have because they provide structure and a sense of purpose to your money and allow you to plan towards achieving a tangible end goal. Setting financial goals can be an overwhelming task but it can be broken down into straightforward steps. The first step is to assess your current financial situation. This means understanding your net worth, what debt you have outstanding and your monthly income. This will provide an objective perspective of your financial standing and provide the foundation for establishing your financial goals. Once you have an effective assessment of your finances, you can start setting your financial goals. Short-term and long-term goals should be set depending on what financial milestone you want to accomplish. Short-term goals may include cutting expenses, saving for a vacation, or increasing your salary. Long-term goals may include saving for retirement, buying a house, or paying off debt. The next step is to prioritize these goal...