Sep 16, 2008

What's Your Dream?

At the start and at the end of the movie Pretty Woman, there's a guy who walks along the street and shouts "Hey, what's your dream?" Similarly, when I used to walk down the street, I used to look at the people passing me and wonder what their story was. You know, the history that got that particular person into that very spot on that very day.

I still find things like that interesting but I guess I now look to the future more than I do the past. I too wonder what people's dreams are. The past is interesting but what is done is done. I now think it's more exciting thinking about the future and how you can influence it.

On The Way
Photo: darcko

Which is why I have a goal; a dream even. I didn't know this before I started (and named) this blog but a number of things I have read about Personal Finance revolve around having a goal to head towards. Here's a list of a few things which crop up in people's PF blogs again and again:

  • getting out of debt
  • paying for a wedding
  • saving for a house deposit
  • paying through education
  • becoming better with money
  • attaining financial independence
  • paying off a house
  • retiring early

I'm lucky in the fact that I have no debt - apart from the mortgage - and currently I am not planning a wedding :-) However, I am interested in the last 4 items from the above list. Especially the last two which are my current goals - to pay off the house and become financially independent.

It turns out that having a goal is the best way to keep on track. If you don't have a goal then I'd suggest that you have less inclination to go through with the things you need to do. These are the things that everyone who practices sensible spending and saving should be doing and happily the things I am currently learning about.

So if you're thinking of spending less and saving more, figure out a goal you can head towards to help that dream come true. If you don't have a dream then you're less inclined to make it that far.

So what's your dream?

P.S. I think I'm going to coin the acronym 'Sx3' which stands for "Sensible Spending and Saving". I like that much better than phrases like "Become a Millionaire", "I'll make you Rich" or even "Get Wealthy with my 10 Step Plan"! Ahh, it's nice being down-to-earth :-)


kiwinewt said...

All of the above?

getting out of debt
paying for the dentist
paying for a wedding
saving for a house deposit
paying off student loan
becoming better with money
attaining financial independence
retiring early

retire-at-40 said...

Hi kiwinewt!

The good thing for you is that you're still young and the magic of compound interest is on your side, so get started early (despite those other things you have to pay off).

Tasha said...

my dreams (financially) are:

- attain financial independence
- retire early
- win the lotto for more than $5m (even if rarely bet, almost never!)

the last one might be a bit unrealistic but it's a dream :)

i don't want to make paying off debt as a dream cuz that's a realistic goal for me.

Determinist said...

- to create a true AI