Financial Freedom in 2021! Take Action: Day 2
There are about 20,000 ways to set goals and about twice as many books, websites, worksheets, webinars, and videos to teach you how to do this the “right” way. Goal-setting can feel overwhelming, and figuring out how to start can be a deterrent to starting at all. Instead, I try to identify my top *priorities* first. I find it helpful to make a short list and a vision board of what’s most important to our family before thinking through budgeting, saving, investing, or goal-setting.
For us, those priorities are (in no particular order):
- Travel (hoping to see all 50 states before first child graduates)
- Family Traditions
- Saving 25% of income for early retirement
- Real Estate investing (2 doors/year)
Other priorities that might make your list include: Career Advancement or Change, International Travel, Marathon Race(s), Visiting Out-of-Town Family, Ministry or Mission Work, Retirement this Year, Climb a Mountain, Vacation Home, Pay Off Debt, or Start a Side Hustle/New Business.
For today, make your family’s specific list. Write these down in a journal or under the net worth number you calculated yesterday. Once big priorities are set, it becomes much easier to set incremental, measurable goals. These priorities will also become key in establishing your annual budget. More on that tomorrow…