One example of a long term goal might be to build a home of your own. Simply setting this goal is not nearly enough. If you really hope to accomplish your goal you must have a detailed plan in place to help you achieve it.
Effective time management skills include setting deadlines for when you will meet your entire goals, as well as thinking through all of the small steps that you will need to take along the way. This is the planning process and it requires that you make commitments to yourself, in order to meet your long term goals.
If your goal is to build a house within the next two years, then the next step is to detail all of things you will need to do in order to accomplish that goal.
It is also important to set shorter deadlines for each phase of this process. In this case some of the things you might to need to accomplish in order to fulfill your goal, and the deadlines you might apply could be find a piece of land on which to build by December; blueprints for the home complete by March; hire contractors by June; purchase materials by July etc In this way you break down complicated, long term goals into smaller, more manageable pieces.