Setting goals is a way to plan for the future. Financial goals are individual and unique. Right now you might be at a place where you are just trying to cover your needs. It is still important to look to the future so that you can start working toward your goals when more money becomes available to you.
Setting goals helps you focus on what is important to you, what you value in your life. This helps you stay on track with your money. You will not feel deprived when you say no to an impulse purchase. You will know that you are focused on more important future purchases. Small sacrifices help you reach big goals!
Think of short term goals, three months to one year, and longer term goals, two to five years. And of course we all need to keep in mind the goal of saving for a comfortable retirement.
Check out this Goal Setting Worksheet to help you get started on your goals.