The purchase of a new vehicle or the reduction of student loan debt are examples of short-term objectives, while retirement planning, college funding, and the purchase of a second house are examples of long-term ambitions. This is further explained below.
<h3>What are short-term savings goals?</h3>
Generally, Savings objectives, such as an emergency fund or a new smartphone, that can be accomplished in less than two years are considered short-term.
In conclusion, Examples of short-term goals include the acquisition of a new car or the reduction of outstanding debt from student loans. Long-term goals include retirement preparation, the financing of further education, and the purchase of a second home.
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