Open up your imagination to what could be and identify some financial goals for your family. These goals might include new assets, debt reduction, credit repair, or short-term purchases such as a washer and dryer. By considering what is enough, you can set realistic goals for yourself rather than perpetually running after a lifestyle of higher consumption. We will discuss the benefits and drawbacks of different assets, talk about the cost of credit, and the benefits of maintaining a positive credit history.

In the last tutorial, you took a snapshot of where you are financially. You looked at your income and expenses, you made a Net Worth Statement to look at your wealth, you identified which of your assets were appreciating and which were depreciating, you listed your debts and separated the good from the bad, as well as the high interest rates to the low interest rates. You also looked at the return you're getting on your savings and investment products, you ordered credit reports and a social security statement, and you did some thinking about your “money personality.”

Now, look at where you want to be down the road. This is your chance to dream a little and push the edges of what you have thought possible for yourself. We are going to examine priorities and values and come up with some concrete goals for the future. There will be time later to adjust these goals to fit your current budget. Right now, allow yourself to really decide what would make you feel like you have “enough.” At what point would you feel satisfied and content with your financial life?

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