A financial goal is a target you set for yourself on how you will save and spend your money to achieve that specific goal and make your future more secure. It might be saving for school materials or even buying a chicken. When you are coming up with a financial goal, having a detailed plan and timeline for what to do and when will help you to achieve it. Ni Nyampinga visited 10 to 15-year-old students from Kanyundo Primary School and joined a session with their mentor Denyse who shared how to set a financial goal and make it a reality.

That was the first question Denyse received from Odette. “A financial goal is a target that you want to meet in the future, but to achieve it you have to save up money first,” she explained. Denyse added that a short-term financial goal can take you between three to four months to achieve, while longer-term financial goals can take up to one year or more. A short-term goal might be buying school materials like notebooks or a new school bag, whereas a long-time goal can be buying a hen, a pig, or something similar. Denyse emphasised that having a financial goal and developing a plan of action helps you to spend your money responsibly and stay on track to reach your target.

“So what do you need to do to achieve a financial goal?” asked Grace, a 10-yearold girl. Denyse explained that there are things you must first take into account. Denyse asked one student to share an example of a financial goal and Diane spoke up: “I want to buy one sheep which costs Rwf 10,000 but I have only saved Rwf 5,000. I want to buy the sheep in the next three months.” With the help from Denyse, the group suggested Diane to invest Rwf 5,000 by first buying a chicken that will produce eggs to sell and earn enough money to achieve her main goal - buying a sheep. They also proposed that she could ask her parents to support her with the rest of the money she needs or even look for other opportunities to make money in her neighbourhood.

Denyse told the students that a financial goal also needs to be well planned. Understanding all the steps you need to take to achieve your goal is the most important thing to guarantee your success. “Ask yourself some key questions and try to find answers to each,” Denyse told them. At the end of the conversation, the students thanked Denyse, and left feeling confident they shall achieve their dreams now that they understood what a financial goal is, and what it takes to achieve that goal.