Goal setting is integral to the process of planning for your financial future. Without goals, it is difficult, if not impossible, to plan properly and adequately for the many aspects of your financial life. For example, if you have no specific purposes for your money, will you have adequate motivation to save for the future? Even absent any financial goals, you will still need money to live on in retirement! Even if you are motivated to save, without financial goals how will you know whether you have saved enough?