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short term vs long term goals with comparison table

We explain the difference between short-term and long-term goals. We all have some goals to achieve in life. These goals must have a time limit. Based on time, categorize goals into short-term and long-term goals. short term vs long term goals

Short-term goals are goals that we want to achieve shortly. This can be three days, five days, a week, a month, or a year.

Long-term goals, on the other hand, are goals that have a 5-10 year timeline.

Even the timeline given above can change from one individual to another. The age of an individual will also be a deciding factor for their short and long term goals.

The main difference between long-term goals is that short-term goals are for less than 1 year and long-term goals are for 5 years or more. short term vs long term goals

The best part about goal setting is that you can start with a goal at any age in your life. As you create a goal for yourself, you must verify that the goal is realistic. If you create a goal that is difficult for you to complete, you will be demotivated to complete your other goals as well.

Comparison table between short-term and long-term goals

Benchmark Short-term goals Long-term goals

Chronology The time frame for short-term goals is around 6 months to a maximum of one year. Long-term goals start with a 3-year term and can go up to 20 years.
Number of goals A person likely has many short-term goals in multiple categories. There would be a limited number of long-term goals in a person’s life.
Types of goals The types of goals that fall under this umbrella are those related to health, social care, and relationships. Financial goals and family-related goals are generally classified into long-term goals.
Patience Lower levels of patience are required for short-term goals because of the satisfaction you get from completing a goal. There is no immediate satisfaction of long-term goals and that is why a lot of patience is required.
Failure Short-term goals are less likely to fail because they require less effort. short term vs long term goals There are more chances of failure in case of long-term goals due to distractions and unexpected circumstances in life.

What are short-term goals?

Short-term goals have a short timeline to complete. The type of goals that are included in short-term goals are usually health-related relationships. short term vs long term goals

Financial, savings, loan, and investment-related goals are typically long-term and therefore not included in short-term goals. However, some of the financial goals may be short-term, for example when you are saving money to buy a book.

Some of the short-term goals can be completed in a few days and are known as ultrashort goals.

When you create goals for yourself, you should pay special attention to short-term goals because when you complete short-term goals, they ultimately help you complete your long-term goals.

What are long-term goals?

Long-term goals have a term of between 5 and 10 years. Even goals that have a timeline of more than 3 years are also included in long-term goals. short term vs long term goals

The type of goals that are included in long-term goals are related to finances and savings. Some of the health-related goals can also be long-term goals, as you may want to maintain a healthy lifestyle in your life.

Since long-term goals require patience and effort to complete, they must be divided into short-term goals.

For example, if you have a long-term goal of earning $ 1 million, you must first have a short-term goal of earning $ 100,000 in one month. Similarly, if you have a long-term goal of owning a 100-person business, you should start the job yourself first, and then gradually increase the number of people on your team.

Main differences between short-term and long-term objectives

  1. Short-term goals typically have a term of up to 1 year and long-term goals have a term of 3 years or more.
  2. For any individual, there would be multiple short-term goals and fewer long-term goals.
  3. Health and relationship-related goals are typically short-term, while luxury and finance-related goals and long-term goals.
  4. Short-term goals require less patience than long-term goals
  5. Short-term goals give you the confidence to complete faster than long-term goals. short term vs long term goals
  6. An individual is destined to fail in achieving long-term goals compared to short-term goals.

Final Thought

Each individual must have a combination of short-term and long-term goals. Long-term goals required patience and regular efforts on the part of the individual.

Even large companies and businesses also have short-term and long-term plans that they must complete to stay in the market.

For a person living on the street, the short-term goal would be to complete his food requirement every day. Your long-term goal would be to own a home where you can stay comfortably.

To organize your goals, you can keep a separate journal for short-term and long-term goals. That way, you can quickly take a look at your goals separately.

That’s all we have to cover in this article. Now go ahead, create short-term and long-term goals for yourself and keep them organized. The more effort you put into completing short-term goals, the less effort it will take to complete your long-term goals. short term vs long term goals

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