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The Journey to Financial Freedom: Set Realistic Financial Goals

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  • Post last modified:July 11, 2023

Once you have a clear idea of your current financial position, you can set goals for yourself. Set realistic goals that are achievable in the short-term and long-term. Previously, we discussed assessing our control over debt, saving, investing, and starting a side business. So, we now want to correct any existing anomalies if there are any. Now let us look at setting realistic financial goals. Today we are taking our reading from Proverbs 16:3 where it is recorded:

“Commit your works to the LORD and your plans will be achieved.”

The Lord wants us to commit our ways and works to Him. He wants to be part of your plan. Having invited Him, He has promised that our plans would be achieved. Ensure that your financial goals are committed to God. Let us dive into the teaching for today.

Realistic financial goals are those that are achievable within a certain time frame and with a set amount of resources. Financial goals may include paying down debt, setting aside money for emergencies, or creating long-term investments. By setting realistic financial goals, individuals can create a plan to help them achieve success.

1) Paying down debt

On goals to pay debt consider focusing on the highest interest debt first. Make sure to also make the minimum payments on all your debts. Prioritize savings and budgeting to help make paying down debt easier.

This approach is akin to tackling a difficult job one step at a time. If you try to do it all at once, it will seem overwhelming and you may not make any progress. But if you break it down into smaller tasks and tackle them one by one, the job will become much more manageable.

2) Saving for different purposes

Saving money can be used for a variety of purposes. So, decide what you want to save for. For example, you can save for a down payment for a house, or for a vacation, or for retirement. Setting specific goals can help you stay motivated and achieve your savings goals.

Saving money is like building a house – you need to have a plan and a specific goal for what you are trying to build. You also need the right materials and tools to get the job done. Just as you wouldn’t build a house without a plan or the right materials, you shouldn’t save without a plan and the right tools to help you reach your goal. By setting measurable goals and using the right tools, you can create a customized plan that will help you stay motivated and reach your savings goals.

3) Creating long-term investments

Investments are also critical. Look at different types of investment. Invest in stocks, mutual funds, and bonds. Consider investing in real estate or starting a business. Think about how your investments can increase your wealth over the long term. Investing in these areas can be like planting a garden. You may not see the fruits of your labor right away, but with continued effort and care, over time your financial garden can flourish and yield great rewards.

You should also be cautious about where you put your money. Many people have lost a lot of money investing in stocks, mutual funds, and bonds. Real estate and business are also risky investments. Before investing your money, you should do your research and talk to a financial advisor.

Some statistics suggest that 69% to 84% of retail investors lose money (Pechman, 2022). Therefore, it is important to be mindful of the risks associated with investing and make sure to do your due diligence before committing your money.

In conclusion may I remind you that we looked at assessing our financial situation previously to know what to work out in our finances.

We have now looked at setting realistic financial goals, including how to deal with debt if you have it. Put together a savings plan. Decide what you will save for. Finally, we said investing is critical since the future should be considered. You will not always have the strength you have today. Visit my Podcast for more.


Elphas Sipho Mdluli- MBA Areas of Expertise Business Leadership – Operations Leadership – Financial Management – Process Optimisation – Decision Making Stakeholder Engagement – Project Delivery – Organisational Strategy – Relationship Management – Negotiation Skills Strategy Development – Change Management – Relationship Building – Team Empowerment – Performance Improvement Critical Thinking – Systems Thinking – Strategic Planning – People Management – Business Administration Executive Summary As a meticulous, driven and people-oriented professional, Elphas is motivated by ensuring the achievement of organisational goals. He is fuelled by improving business performance, whilst his all-embracing skillset has enabled him to successfully execute projects across various platforms. His career has presented the effective delivery of solutions, leveraging expertise in financial, operations, administrative and business processes, as well as the management of integrated transformational projects. Elphas thrives in complex environments where strong leadership is required to drive business performance. As a highly focused and participative leader who believes in effective teamwork, he prides himself on his innate ability to connect with and lead stakeholders across all levels of an organisation. With a dedication to continuous improvement, Elphas has completed a vast range of courses, including currently completing his Doctor of Business Administration, building upon his MBA, Bachelor of Ministry degree and Bachelor of Commerce degree in Accounting, to mention just a few. Career Summary Elphas has built his career on a strong academic foundation across a diverse range of areas, including accounting, management development, ministry, finance, corporate governance, risk management, behavioural intelligence, leadership and business administration. He is a Business Leader, an Author, a Lecturer and a pillar within his community. His diverse roles have shaped his skillset and his early roles consisted of Chairperson and Senior Pastor for Christian Liberty Centre and Branch Officer for Select Management Services before moving to Sibonelo Savings and Credit Cooperative Society as Accountant, Manager and then General Manager. In 2013 Elphas spearheaded the start-up of Life Solutions Investments, an organisation providing Training & Consultancy as well as leading operations of a Block Yard. He has also been contracted by Calvary College as a part-time Lecturer. In addition, Elphas has written and published numerous books based in business, marriage and spirituality, as well as being Founder and Senior Pastor of the Freedom Centre International Church. As a result of his sharp business acumen, Elphas was offered the role as Executive Manager for Eswatini Association of Savings and Credit Co-operatives (ESASCCO) where he effectively led teams across various departments. He oversaw Administration, Finance, Training, ICT and the Insurance departments. Elphas has consistently excelled in improving performance and has enjoyed many successes throughout his career, which is evident in the success of the organisations in which he is involved. Elphas provides a significant contribution to the long-term sustainable growth through his extensive experience, vast administration knowledge and impeccable business leadership abilities. His implementation skills are forefront in overall strategic development, and his involvement in business ensures ground-breaking improvement in performance. He is a resourceful professional who has a passion for the development of commerce and the progress of human capital within business, ensuring and facilitating significant growth and financial health of an organisation.