Why Do You Save? A Goals Exercise

When I get a little low on motivation, I like to focus on the reasons why I want to earn more and spend less. I found this goals exercise from a financial planner’s website and have adapted very slightly below.

Essentially, you should start listing things you would do with your money. Some popular goals are listed below, but everyone should add their own, delete some, or clarify existing ones. The next step is to rank them from highest priority (1) to lowest priority (12, etc.). (I tried to add some online forms, but it’s probably best to print it out.) No ties! This will force you to clarify your priorities, and think about how you want to live your life.

______ Go back to school, further education for yourself

______ Switch to another new career

______ Start/buy/expand own business

______ Buy a new home

______ Buy a new car/boat/thing

______ Travel extensively

______ Reduce/eliminate debt

______ Set up a reserve/emergency fund

______ Save for retirement

______ Create financial independence

______ Support parents and/or other relatives

______ Contribute to favorite charity/cause

______ Create/leave large estate for heirs

______ Help fund children’s education

______ Provide for dependent’s special needs

Comments

  1. Thank you for posting this, it is very helpful. I would also like it if you could post more ways to tell about how to save money. Great post!

  2. So more than 12 options on your list, but I think this is my list (currently). No kids and my parents are still wicked healthy. So nothing to worry about there.
    ___2___ Go back to school, further education for yourself

    ______ Switch to another new career

    ______ Start/buy/expand own business

    ___1___ Buy a new home

    ______ Buy a new car/boat/thing

    ___3___ Travel extensively

    ___7___ Reduce/eliminate debt

    ___5___ Set up a reserve/emergency fund

    ___6___ Save for retirement

    ___8___ Create financial independence

    __9____ Support parents and/or other relatives

    ___4___ Contribute to favorite charity/cause

    ___12___ Create/leave large estate for heirs

    ___10___ Help fund children’s education

    __11____ Provide for dependent’s special needs

  3. Nice exercises for motivation.
    I will put it together with my NLP skils. :D

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