Friday, August 31, 2007

Goals and Values

I read an article discussing ones values and how their goals should be aimed at ones values. After reading through the examples of values in the article, I decided on a few values that are important to me. These are the things in my life that are most important to me and nothing else should matter. If keeping up with the Jones' doesn't adhere to my values, then there is no reason for me to want to try to keep up with them. Here goes then. The values that I find are most important to me include:

1. Family, Love - For me these two are the same value. My goals should be aimed at taking care of those that I love and that are my family. Buying that brand new luxury car doesn't help out my family much and I know that my girlfriend isn't going to love me any more then she already does. Therefore, I should be and am fine driving my current used vehicle for hopefully the next 10 years.

2. Freedom, Peace of Mind, Security - I believe these are all one in the same and are very important for me. This involves having an emergency fund and a good amount of money for retirement so that I don't have to worry about money. There are plenty of other things in life to worry about such as family and health to where I don't need to worry about money. I don't want to have to worry about whether I'm going to be able to pay the bills this or next month if something bad happens.

3. Health - This is something that has become very important to me lately. I am in love with a girl with lots of health problems. These aren't things that can be controlled but it is important to me that we both take care of ourselves and don't do anything destructive to our health and cause any unnecessary problems.

4. Happiness - I value being happy. I have a family that loves me and that makes me happy. I have a girlfriend who loves me and I can love and that makes me happy. It is important to be happy in life.

5. Balance - This is my last value. I want to achieve a balance in my life between family, friends, myself, and work. If I am ever too involved in one where my other relationships start to suffer then I will not be looking after this value.

With these 5 values in mind I want to come up with some goals. I've written about goals once before and I want to write about them again and come up with more clear goals.

1. Increase net worth - This is still my top goal and this goal will come with the achievement of other goals. A net worth of a million dollars is a nice number to think about. However, this goal goes towards the value of security. In actuality, a net worth of $100,000 might actually provide me with the security I seek.

2. Build emergency fund to 6 months expenses - The number I'm going to put on this goal is $13,944. That is 6 months worth of net pay. This also goes towards security.

3. Reduce credit card debt. Have this paid off completely and never put more on my credit card again that I can pay off each month. Security value.

4. Purchase a home - This goes towards both security and love. I want to purchase a home that both myself and my girlfriend love and will start our lives together in. This will also bring me happiness to have a home of the both of ours together. I want to save up for a down payment on a house. I believe we can find a house we are happy with between $135k and $190k.

5. Marriage - This goes towards family, love, and happiness. I want to start saving up for an engagement, wedding, and honeymoon. I have no idea of a monetary value on this goal but any money saved towards this goal will help.

6. Happiness Account - I want to set up an account that I will call my happiness account. I want to put away a small amount automatically for things that I will want to buy such as a LCD tv or a future car in 10 years. Having the cash to pay for these things will mean I don't have to incur debt for such purchases that will bring me happiness.

These are currently the goals that are most important to me. Previously I had wanted to pay my car off early. However, I feel that with an upcoming wedding and the want of owning a home, this can be put off and the car will be paid off when it is paid off.

No comments: