Explanation:
Here we need to explain financial goals and the resources to reach those goals, and what is the importance of these resources when planning financial goals.
Financial goals are the goals to save as much money as needed to reach your target goal. Financial goals can be short term, middle term and long term. Short term financial goal could be the dream vacation, middle term goal could be the college savings and long term goals could be new home or retirement savings.
Some of the resources or ways that the families or individuals can use to reach their financial goals could be budgeting, controlling your spending habits, totally eliminating the credit cards or anything which involves interest payments, setting aside a fixed percentage of your income, establishing an emergency fund account, etc. All such resources or ways will lead to reach your financial goals.
It is important to use the above mentioned resources to when planning your financial goals, just because you need to save money to achieve those goals, and you need a discipline and management of your resources and income to achieve your goals.
