Answer:
Short term goals are objectives set to be accomplished in less than one year. They are plans that will be fulfilled shortly. Short term goals are easy and less costly to achieve. Long term goals take longer than one year to accomplish. They require planning in terms of finances and management.
Long term goals are usually split into several smaller milestones for successful implementation and monitoring. For example, owning a home is a long term goal. This objective can be split into several short steps. One of the steps will be saving for the deposit. These several steps are short term goals. Achievement of these short term goals will lead to the achievement of the long term goals. In other words, Long-term goals are split into short term objectives for better management and accomplishment.