While in the process of setting goals, an individual should consider the trade-offs to those goals. A tradeoff
is giving up one thing for another. Every decision involves a trade-off. Being more financially secure in
the future by saving is a trade-off to spending money in the present. If a person clearly understands what
they are giving up in exchange for the benefits of saving money, then their saving goals will become
more attainable and realistic. When considering the trade-offs to achieving savings goals, an individual
should examine their current spending as well. Spending may have to be adjusted in order to reach a
financial goal and practice the pay yourself first strategy.