Unit 1 · Level 3 · Goals & horizons
Defining 'enough'
'I want to be comfortable someday' can't be planned. '€24,000 for a house deposit by July 2030' can. A real financial goal has three parts: an amount, a date, and a monthly contribution that connects them. Once the number exists, you can check progress, and 'someday' turns into arithmetic.
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What you get asked
Which of these is a well-defined financial goal?
Amount + date + contribution = a goal you can track. The others are moods, not plans. There's no month where you can check if you're on schedule.
Emma wants a €24,000 house deposit in 4 years. Ignoring returns for a rough first cut, how much must she put aside per month?
€24,000 ÷ 48 months = €500. Returns on a safe 4-year pot will help a little, but the honest first draft of any plan is plain division.
Turn a vague dream into a plan by putting the steps in order
Name it, price it, date it, divide, automate. Five steps take a dream from your head into your banking app.
Emma's plan says €500/month but she can only spare €350. Her honest options: lower the amount, push the ___, or find more income.
When the math doesn't fit, one of three dials must move: amount, date, or contribution. Hoping for spectacular returns to close the gap is a gamble, not a dial.
Why do written, numbered goals beat 'investing in general'?
The number and date pick the bucket, the bucket picks the assets, and each month you know if you're on pace. The plan drives everything downstream. 🐜
The rest of this unit
Before you pick a single fund, decide what the money is FOR and when you'll need it.