Comments on: 31 Days To Fix Your Finances, Day 2: Defining Your Goals From Your Values http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/ Simple, applicable personal finance advice for the modern world Sat, 21 Nov 2009 23:44:30 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: new_student http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-678058 new_student Sat, 30 May 2009 15:15:58 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-678058 Previously, the question about conflicting goals with your spouse already came up. However, I have currently the problem that I am in conflict with myself - some of my goals appear mutually exclusive! This is not a problem with my values, but the resulting situations are different life situations. The post mentions something about conflicts between goals and mismatching values, but not about goals conflicting with each other (especially when the values are not obviously conflicting). Anybody has experienced this problem and has some insight? Previously, the question about conflicting goals with your spouse already came up. However, I have currently the problem that I am in conflict with myself – some of my goals appear mutually exclusive!

This is not a problem with my values, but the resulting situations are different life situations. The post mentions something about conflicts between goals and mismatching values, but not about goals conflicting with each other (especially when the values are not obviously conflicting).

Anybody has experienced this problem and has some insight?

]]> By: Lui http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-658061 Lui Sun, 10 May 2009 08:10:27 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-658061 The resources from your site are very useful. Especially for someone like me just starting on my financial education. You're down right right on the first step. Until now, it haven't occurred to me that I need to clarify my values to really know what I want to get out of life. I always rationalizes that its in the back of my head all the time. I listed down ten at first and eventually narrowed it down to four. I realize now why I'm not going anywhere in terms of managing my money. It's because my spending habits and patterns do not support what I really value in life. Whew! You can't imagine the eureka moment I had on that one. Thank you for sharing your knowledge and making it simple for ordinary guys like me. I hope to see you and thank you personally someday. More power! May your blessings multiply. The resources from your site are very useful. Especially for someone like me just starting on my financial education. You’re down right right on the first step. Until now, it haven’t occurred to me that I need to clarify my values to really know what I want to get out of life. I always rationalizes that its in the back of my head all the time. I listed down ten at first and eventually narrowed it down to four. I realize now why I’m not going anywhere in terms of managing my money. It’s because my spending habits and patterns do not support what I really value in life. Whew! You can’t imagine the eureka moment I had on that one. Thank you for sharing your knowledge and making it simple for ordinary guys like me. I hope to see you and thank you personally someday. More power! May your blessings multiply.

]]> By: Jessica http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-600116 Jessica Sun, 29 Mar 2009 22:34:44 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-600116 So far so good. I have wrote down my values, and defined my goals (both 25 and 1 year goals). I have really enjoyed the process of delving inside my soul and write down ‘on paper’ things I know I want and can achieve. This is a really small action but I am proud I have done it. My only hope now is to stick to the program for the next 29 days. I want to, so will try hard to... I'll keep you posted So far so good.
I have wrote down my values, and defined my goals (both 25 and 1 year goals). I have really enjoyed the process of delving inside my soul and write down ‘on paper’ things I know I want and can achieve. This is a really small action but I am proud I have done it. My only hope now is to stick to the program for the next 29 days. I want to, so will try hard to… I’ll keep you posted

]]> By: Michelle http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-541423 Michelle Sat, 28 Feb 2009 01:42:53 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-541423 We just recently accomplished three major goals which was buying our first home and being supported solely from my husbands' income and having a second child. I was working from home in my other job, but Apartment managing is demanding and my husband wants me to have a choice about working. The budget is much tighter and even though I don't have a steady income I still work as hard if not harder. We dropped a car and have kept the one we have in good running condition because it is cheaper than buying a new one. My husband commutes by bus and train and I am walking my son to school as much as I can after recovering from delivery 7 weeks ago. We garden and avoid eating out and as far as improvements in our home we do as much as we can and avoid spending beyond our means. We are successful thus far because we do take time to talk about our values and goals and what we care about now and what we hope to accomplish in the long, long run and the long run and even what we hope will happen in a short time. We are not perfect but we talk to each other and trust each other and because of this we know where to have room for allowances and where we should rein it in. For example, I could live with out internet (probably because I have the time to go to the library), but my husband really feels a need for it. So we have it and use it for our entertainment instead of going out to the movies. In a way it does save us a lot of money and is a great immediate resource of information as well. My husband doesn't need new clothes often but since I have a changing body due to pregnancy and delivery I do need to shop. I do try save where I can though so I have been going to the thrift stores and saving a lot. We both like good food and while we don't eat out often we will occasionally and sometimes we will make a good meal that costs a bit more for the ingredients (cream and cheese) but is still a fraction of the restaurant price and yet restaurant quality. To those who asked about involving their spouse on financial planning, I would say that you definitely should. One of the major problems that come up in marriage is money and lack of communication. Spencer W. Kimball said the cause of all (yes 100%) divorce is selfishness on one or both sides. We just recently accomplished three major goals which was buying our first home and being supported solely from my husbands’ income and having a second child. I was working from home in my other job, but Apartment managing is demanding and my husband wants me to have a choice about working. The budget is much tighter and even though I don’t have a steady income I still work as hard if not harder. We dropped a car and have kept the one we have in good running condition because it is cheaper than buying a new one. My husband commutes by bus and train and I am walking my son to school as much as I can after recovering from delivery 7 weeks ago. We garden and avoid eating out and as far as improvements in our home we do as much as we can and avoid spending beyond our means. We are successful thus far because we do take time to talk about our values and goals and what we care about now and what we hope to accomplish in the long, long run and the long run and even what we hope will happen in a short time. We are not perfect but we talk to each other and trust each other and because of this we know where to have room for allowances and where we should rein it in. For example, I could live with out internet (probably because I have the time to go to the library), but my husband really feels a need for it. So we have it and use it for our entertainment instead of going out to the movies. In a way it does save us a lot of money and is a great immediate resource of information as well. My husband doesn’t need new clothes often but since I have a changing body due to pregnancy and delivery I do need to shop. I do try save where I can though so I have been going to the thrift stores and saving a lot. We both like good food and while we don’t eat out often we will occasionally and sometimes we will make a good meal that costs a bit more for the ingredients (cream and cheese) but is still a fraction of the restaurant price and yet restaurant quality.

To those who asked about involving their spouse on financial planning, I would say that you definitely should. One of the major problems that come up in marriage is money and lack of communication. Spencer W. Kimball said the cause of all (yes 100%) divorce is selfishness on one or both sides.

]]> By: Marcelisa http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-211461 Marcelisa Wed, 26 Mar 2008 07:18:54 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-211461 I'm inspired by this 31-Day program. Thank you for putting it together. I spent a bit of time paring down my primary values to just six (I added one more than you instructed). I'm having trouble coming up with goals for 3 of my six because they are more abstract: excellence, clarity, and intelligence(very similar to education, another primary goal). What would you suggest? Should I set goals for my secondary values instead? Some of them are liberty of time and money; adventure; and love. I’m inspired by this 31-Day program. Thank you for putting it together.

I spent a bit of time paring down my primary values to just six (I added one more than you instructed). I’m having trouble coming up with goals for 3 of my six because they are more abstract: excellence, clarity, and intelligence(very similar to education, another primary goal). What would you suggest? Should I set goals for my secondary values instead? Some of them are liberty of time and money; adventure; and love.

]]> By: Betty Ann http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-143743 Betty Ann Sat, 29 Dec 2007 05:33:47 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-143743 This is terrific......I'm going to start this for January 1, 2008 .. and go through one step a day; since I missed it last year.. What a great thing to focus on Values First. I got my main 6... This is terrific……I’m going to start this for January 1, 2008 .. and go through one step a day; since I missed it last year..

What a great thing to focus on Values First.

I got my main 6…

]]> By: Davey http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-68845 Davey Sun, 09 Sep 2007 22:16:40 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-68845 I also was inspired by Rich Dad to get my act together, I'm 27 and was just recently married. Being a musician, I haven't really thought too hard about this kind of stuff before, but now I'm even doing a business studies course at open university..."he's changed" they'll say. I also was inspired by Rich Dad to get my act together, I’m 27 and was just recently married. Being a musician, I haven’t really thought too hard about this kind of stuff before, but now I’m even doing a business studies course at open university…”he’s changed” they’ll say.

]]> By: arthur asilo http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-51230 arthur asilo Sat, 28 Jul 2007 19:15:34 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-51230 I was inspired by RK rich dad poor dad, It is not perfect but good enough to prod me into financial self-studies, which led me to this site. Nothing is perfect although I like my chances in improving by keeping my mind open to good avice like these. thanks man! I was inspired by RK rich dad poor dad, It is not perfect but good enough to prod me into financial self-studies, which led me to this site. Nothing is perfect although I like my chances in improving by keeping my mind open to good avice like these. thanks man!

]]> By: rob in Madrid http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-22333 rob in Madrid Wed, 02 May 2007 18:29:30 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-22333 This has been a very interesting exercise. One of my values is/are Fun Adventure Excitement Enjoyment. Hmmm shopping is all of the above, spending money is fun, going away on a shopping vacation is a blast (yes I'm a guy) nothing makes one feel better than buying an expensive toy! Kind of defeats the purpose doesn't it. OK freedom from Debt means we can enjoy the Fun Adventure Excitement Enjoyment values. Freedom from debt means I can turn down work during the summer. (I'm an ESL teacher) Freedom from debt means we don't have to worry about cash flow crisis. Freedom from debt means my wife can turn down a promotion and relocation and not worry if it means unemployment Freedom from debt means less worry and fears about the future OK I get it now. Pauline dealing with money is the most difficult challenge that every married couple faces, far more than sex kids work. Its not an easy thing to work out. The only answer I have is to find resources on how to manage money as a couple. This has been a very interesting exercise. One of my values is/are Fun Adventure Excitement Enjoyment.

Hmmm shopping is all of the above, spending money is fun, going away on a shopping vacation is a blast (yes I’m a guy) nothing makes one feel better than buying an expensive toy!

Kind of defeats the purpose doesn’t it.

OK freedom from Debt means we can enjoy the Fun Adventure Excitement Enjoyment values.

Freedom from debt means I can turn down work during the summer. (I’m an ESL teacher)

Freedom from debt means we don’t have to worry about cash flow crisis.

Freedom from debt means my wife can turn down a promotion and relocation and not worry if it means unemployment

Freedom from debt means less worry and fears about the future

OK I get it now.

Pauline dealing with money is the most difficult challenge that every married couple faces, far more than sex kids work. Its not an easy thing to work out. The only answer I have is to find resources on how to manage money as a couple.

]]> By: Pauline http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-20266 Pauline Tue, 24 Apr 2007 00:02:48 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-20266 I agree w/ amy. Husband is a car freak. Auctions are dangerous! How to get spouse to take your need for financial security seriously w/o saying "You better take this seriously" which of course never works. Better to bait a bull with red cape! I want to involve my husband in planning while we are still young and kid-free, lest we end up under the gun or dangling over a financial precipice. I haven't figured that one out. I agree w/ amy. Husband is a car freak. Auctions are dangerous! How to get spouse to take your need for financial security seriously w/o saying “You better take this seriously” which of course never works. Better to bait a bull with red cape! I want to involve my husband in planning while we are still young and kid-free, lest we end up under the gun or dangling over a financial precipice. I haven’t figured that one out.

]]> By: Trent http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-2642 Trent Fri, 05 Jan 2007 19:46:40 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-2642 Amy: I try to avoid discussing financial issues that directly involve my wife on The Simple Dollar. However, I will say that when I do exercises like these, my wife and I usually do them in parallel, then talk about them together and combine them. Amy: I try to avoid discussing financial issues that directly involve my wife on The Simple Dollar. However, I will say that when I do exercises like these, my wife and I usually do them in parallel, then talk about them together and combine them.

]]> By: Amy http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-2638 Amy Fri, 05 Jan 2007 18:17:10 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-2638 So far, I'm getting a ton of value out of your series - congrats on taking the time to put your thoughts and advice together so clearly. A quesiton for you, however, about your wife & marriage. You mention your values, your goals, but not the role - if any - your wife played in defining your goals. Or, whether you and your wife have discussed your individual values and where they align or conflict. As I did the first exercise, and now the second, it's becoming clear to me that my husband and I have not articulated our goals and underlying values on paper together - and that's probably the source of our spending/saving/investing conflict. How do you and your wife work together on your values/goals? So far, I’m getting a ton of value out of your series – congrats on taking the time to put your thoughts and advice together so clearly. A quesiton for you, however, about your wife & marriage. You mention your values, your goals, but not the role – if any – your wife played in defining your goals. Or, whether you and your wife have discussed your individual values and where they align or conflict. As I did the first exercise, and now the second, it’s becoming clear to me that my husband and I have not articulated our goals and underlying values on paper together – and that’s probably the source of our spending/saving/investing conflict. How do you and your wife work together on your values/goals?

]]> By: Terry http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/comment-page-1/#comment-2417 Terry Tue, 02 Jan 2007 22:08:08 +0000 http://www.thesimpledollar.com/2007/01/02/31-days-to-fix-your-finances-day-2-defining-your-goals-from-your-values/#comment-2417 I have middle class values (e.g. I want to buy a home) and a minimum wage income. My minimum wage income does not afford me the ability to pay for education or training which might in turn afford me a middle class income. Thinking outside the box by necessity, I am seeking to resolve this problem from a different angle: Is it possible to build housing which someone earning minimum wage can buy and own? (I came up with the idea of "SRO condos", which, according to Google, some local political candidate in California also came up with several years ago. I also think a cluster of small cottages, which could be owned individually, might also be feasible.) If it is possible, that is what I want to do. I have middle class values (e.g. I want to buy a home) and a minimum wage income. My minimum wage income does not afford me the ability to pay for education or training which might in turn afford me a middle class income.

Thinking outside the box by necessity, I am seeking to resolve this problem from a different angle:

Is it possible to build housing which someone earning minimum wage can buy and own? (I came up with the idea of “SRO condos”, which, according to Google, some local political candidate in California also came up with several years ago. I also think a cluster of small cottages, which could be owned individually, might also be feasible.)

If it is possible, that is what I want to do.

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