Goal-based planning is a great tool to achieve financial success. It gives a step-by-step, clear road map for efficiently prioritizing financial decisions and allocating resources. We can set clear and defined targets for goals such as retirement, education, buying a home, etc. It can even be done for smaller expenses like buying a car or taking a dream vacation. This is a great approach to staying focused on goals and having the discipline required to achieve them. It also improves accountability and motivation as every expense and action is put under a lens and its impact on the goal is measured.