The next step in the budgeting process is: Prioritize your goals. This process helps you "plan" for the most important projects.

There are two (2) types of goals:

1. Short-Range Goals

2. Long-Range Goals

It is best to have both of these goals

Short-Range Goals

Generally, you will prepare a short-range goal for the period of time covered with each paycheck you receive. If you get paid weekly, the plan will include all your expenses and income for one (1) week; if you get paid bi-weekly, the goal will include all your expenses and income for two (2) weeks, etc.

List 10 short-range goals:

1)______________________________________ 6)___________________________________

2)______________________________________ 7)___________________________________

3)______________________________________ 8)___________________________________

4)______________________________________ 9)___________________________________

5)______________________________________ 10)__________________________________

Your short-range goals may include things like:

· Pay your rent

· Pay utilities

· Buy weekly food

· Pay weekly childcare

· Buy weekly gasoline

Each of these goals occurs in a short span of time and many of them may be recurring. You will include these short-range goals in your working budget. Many of you have set short-range goals, even though you may not have realized what you were doing. A goal doesn’t change whether it is a mental thought or a written statement. It becomes much clearer and more realistic, however, when you have taken the time to write it down. As you can see, in order to meet your short-range goals, you need a job that provides you an income to pay for those goals.