During his career as a financial advisor, Gary Scheer has largely focused on areas of expertise that include long term financial goals. Still, Gary Scheer knows that in this economy it can be wise for anyone working towards their financial goals to recognize the inherent importance of short-term projects as well. This is because, while long-term goals are focused on building a solid future, short-term projects allow an individual to create a foundation on which the rest of their financial reality can be built upon. In this article, Gary Scheer provides a shortlist of short-term financial goals that are a great starting point for those just coming into their own.

Create an Emergency Fund

Gary Scheer and other financial experts maintain that finances are an integral part of our life and life itself can be wholly unpredictable. Because of this reality, one cannot discount the importance of building a solid fund to set aside in case of an emergency. Most professionals recommend keeping at least a few months’ (or more) worth of living expenses in a savings account for emergencies, as the assurance that it provides can be a lifesaver if unforeseen expenses threaten your financial goals in the future. Gary Scheer acknowledges that part of what keeps some people from starting their emergency fund is the thought that they do not have enough money to contribute to it month to month, but it is important to realize that anything is better than nothing when it comes to preparing for the future.

Pay Off Debt

Getting out of debt is considered an important financial goal for a host of reasons. For example, many find themselves stuck in a loop that results in accrued interest and even worse credit. When one takes control of their debt, it allows them to have much more holistic control over their own income. More money can be put towards investment and saving, and the stresses associated with paying down your debts (with interest) melt away and allow you to fully enjoy your finances.

Start Saving for Retirement

While many consider retirement planning a longer-term financial goal, Gary Scheer and other financial advising experts realize that the earlier you start the better a position you will be in in the end. Those that have fulltime employment should contribute up to the amount that the company they work for will match and readjust to about 15 percent of their income when they are out of debt. Building towards a comfortable retirement can be one of the most daunting financial goals that most of us face, however, with some foresight and advice from experts, Gary Scheer believes that the goal can be very manageable and rewarding.