When working through your personal financial plan you should set 3 types of financial goals:
Short-term goals: typically goals that you strive to reach in a year or less (small debt pay-off, vacation trips, etc.)
Intermediate goals: aim for a time period of 2 to 5 years (paying off smaller loans, saving up a down-payment for a newer car, etc.)
Long-term goals: these goals can be achieved in 2 to 5 years (college savings, retirement funding, etc.)
All of these goals should be worked into your financial plan. As you achieve the short-term goals you'll earn a sense of satisfaction and it will give you the drive you need to accomplish your longer term goals.