According to some estimates, less than 5 percent of the population has clearly defined goals. Yet, setting financial goals is the first step to developing an effective spending plan. Without goals you may be dissatisfied with where your life is going and how you are using your resources. Without goals, you may find whatever happens at any given moment will set you off in a new direction, without thought to where you will end up.
When you set goals you are saying to yourself, I have a future and I can control it. The goals you set will help you to decide where you are going, what you need to do to get there and when you want to arrive.
"PB1454 Setting & Achieving Financial Goal$," The University of Tennessee Agricultural Extension Service, PB1454-2.5M-7/02(Rep) E12-5315-00-004-03, http://trace.tennessee.edu/utk_agexfinman/13