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What's important about money to me?

September 18th, 2006 at 07:13 pm

I'm currently reading David Bach's "Smart Women Finish Rich."

Don't have many thoughts on the book yet, as I haven't gotten too far, but I did enjoy his "values ladder" exercise. It was definitely a perspective I hadn't considered before.

Ask yourself the question, "What's important about money to you?", and keep reiterating with, "What's important about _________ to me?" Then, use that answer to realize how money can make your life *better*.

What a concept, right?

So, what's important about money to me?

Security. I want to know that if anything happens to me or my family, I'll be all right. Whether it's unemployment, an injury or medical emergency, a natural disaster, or even a death, I don't want to live in fear of what the future may hold.

Independence. I want to be completely self-reliant. I want to have my own job/career so that I can support myself. I want to have my own car and own a home. I want to answer to no one--not the landlord, not the debtors, not anyone.

Freedom. I want to be able to make choices that make me happy. I want to choose the career path that I desire, without having salary be a limiting factor. I want to be able to have children if I decide I want to raise them. I want to be able to reconcile the two.

How am I heading towards those goals? I'm medically insured, and I'm starting an emergency fund. At some point, I'll need to know the financial ins and outs of my family. A will or a trust would be good to set up and have.

I'm relatively self-reliant now, but I need to get my driver's license, so that a car becomes an option. I do like the freedom of not having a car, but I want the option to be available. I'm saving towards a house down payment.

I've made tentative plans for the next four to five years regarding saving for retirement. If I can match my projections, that will free me up to pursue graduate school and a possibly risky academic career, worry-free.

I'm not quite sure how to financially prepare for the prospect of creating little ones, but I'll start with saving for a house, and figure it out from there.

Financial planning is so much more fulfilling when you have concrete and heartfelt goals in mind.

2 Responses to “What's important about money to me?”

  1. JanH Says:

    Wow. So true and you know yourself well. Wish I'd had that clear vision.

  2. LuckyRobin Says:

    I'm currently reading "Smart Couples Finish Rich," same author. He has a value circle in it, sounds like basically the same thing as the ladder. There is a lot of really good information there, more so even than Automatic Millionaire, which I know you've read, also. I just got my hold from the library on another one of his books, "Start Late, Finish Rich." He really provides a lot of great info. I'm still waiting for the one you are reading to become available. I've had it on hold awhile, but people don't like to turn it in on time.

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