Have an Extraordinary Life

Personal Note: This short but very helpful article brings to the fore Liz’s years of experience in the area of personal finance as she explains the importance of focus and goals in achieving our desired financial “now” and future. I don’t have much to add: I believe the piece is succinct and very straight to the point.


By [http://ezinearticles.com/?expert=Liz_Koh]Liz Koh

If you feel as though you are living from payday to payday and not getting ahead, then its time to look at your Money Goals. Money is to be spent - either now or later. The trick is finding the right balance between the present and the future. If you spend all your money just living from day to day, you won't have anything more than an ordinary life. Putting money aside for later will let you do some extraordinary things that will make your life more meaningful. First you need to understand what the purpose of money is in your life - what are the extraordinary things that you want to be able to do in your life for which you need money? Your goals need to be things that excite you enough to do whatever it takes to achieve them. Money is not an end in itself, it is something that enables you to live the life that you want. So think about what the role of money is in your life. Here's a list to prompt you:

* Financial security

* A comfortable life for my family

* Fun and excitement

* Exploration of interesting new place

* Making a difference to the lives of others

* A pleasant living environment

* Development and practice of spirituality

There are many other things besides these that money can help you with, so think carefully about what money means to YOU. Next, try and make your goals more specific by giving them a time frame and an amount of money you need to achieve them. For example, if you want to be able to have interesting experiences, you might have a goal of traveling to Nepal in five years time at a cost of $10,000. Make a list of all your goals, and then choose the top 5 or so that you will try and achieve. If you choose too many goals, you may lose your focus and not achieve any of them. Your Money Goals should cover the short term and the long term. If you have a history of setting goals but not being disciplined enough to achieve them, or if you are in a difficult financial situation, start by setting one or two short term Money Goals that you can realistically achieve.

This might be something as simple as going out for a nice meal somewhere. For each goal, work out how much you will have to save each payday to achieve it. For example, to travel to Nepal in five years time at a cost of $10,000 you will need to save $2,000 a year for the next five years. If you are paid fortnightly, that's about $77 per pay ($2000 divided by 26). Now add up the total amount you need to save each payday for all your Money Goals. If the total you need to save for all your Money Goals is unrealistic, prioritize them or even start with just one goal that you want to achieve. You can achieve anything you want if you have enough motivation. Being clear about what money means to you and setting specific, achievable goals will allow you to live an extraordinary life rather than living from payday to payday.

Liz Koh is no ordinary financial planner. After a successful career in management spanning more than twenty years, Liz set up her own financial planning company - Moneymax - in 1999. Since then, her mission has been not only to help people manage their money and increase their wealth but also to help people enjoy their lives - to the max! Her list of clients continues to grow through word of mouth and she is a regular contributor to several top newspapers, magazines and websites. Liz is the author of the best selling book - Your Money Personality: Unlock the Secret to a Rich and Happy Life, Awa Press, 2008, available from http://www.awapress.com

For Liz's best tips for financial security, visit her website http://www.moneymaxcoach.com to receive your free 8-part eCourse on "8 Steps to Financial Freedom".

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