I’ve spoken about the importance of keeping a journal but there is something else you should do. You should write down your goals in life. I’m not talking about a bucket list which is more of a wish list of things like vacationing in Hawaii or skydiving. I’m talking about what do you want your life to be like.
Where do you expect to live? In your own house? In a condo? In an apartment? It doesn’t matter if it’s a houseboat, the idea is to have a direction. Same thing with your job. How far up the ladder do you really want to go? Don’t be ashamed to say you would rather stay at a worker level rather than move into management. There’s nothing wrong with that. But knowing it helps you to determine what your finances may be.
How about a vehicle? Do you want one or do you anticipate using other means of transportation? Do you want to be able to take vacations? You don’t need to decide exactly where you want to go but you should have an idea of how big those trips will be. Going to the capital in your state won’t be anywhere near as expensive as going overseas. Do you want to get married? How about having children? All of these things cost money so if you want to do them you need to list them as goals so you can work towards having enough money to cover the costs.
It’s easy to get your first check then run out to buy the latest electronic toys, clothes or whatever else you’ve had your eye on. Doing that once, as long as it doesn’t put you into debt, is not a bad thing but make sure it doesn’t become a habit. Having a list of goals can help you to stay on track financially. You will need to periodically look at your list to keep it fresh in your mind and to keep your will power strong. It will encourage you to save so that you will start achieving your goals.