Everyone has (or at least should have) some financial goals that they’re striving to work towards throughout their lives. We all probably have different goals that we want to achieve according to our wants and needs. According to financial experts, though, there are certain goals that everyone should be working towards.

Good credit

A good credit score can give you more than just bragging rights. It can make it a lot easier for you to get a loan, and the loans you get can have lower interest rates, too. To help get you a higher score, make sure you pay all your bills on time and keep a low balance on all your credit cards (pay off as much as you can each month).

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Spend retirement mortgage debt-free

You don’t want to spend your retirement still paying off debt, especially mortgage debt. To minimize the amount of money you have to spend paying it off, and maximize the amount of money you’ll have to spend on more fun things, take a minute to review your timeline for paying off your mortgage and make sure it’ll be paid off by the time you want to retire.

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Live within your means

This may seem fairly obvious, but it’s still an important goal to achieve during your lifetime. All this means is that you spend less than you earn each month. Living within your means allows you to start saving money early, and it also means that you’re not racking up debt each month due to overspending.

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Emergency preparedness

Life can hit you with surprises at any time, both good and bad. When the bad surprises hit (like a sudden illness, injury, or other emergencies), you’re going to want to have a good amount of savings ready to use so you’re not in financial distress. Experts advise having about 6 months’ worth of expenses saved up, just to be safe.

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Help your kids avoid student loan debt

If you’ve been paying any attention to the cost of college, you’ll know it’s only been going up exponentially. To help your kids avoid a student loan debt crisis, experts advise starting a savings account early to help them pay for college and graduate with minimal debt. Saving now can help minimize major financial struggles later.

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