Everyone of us surely have their own personal goals they want to reach. These goals may be out of reach for now but you can make them attainable by looking into the list I personally want to follow. Also, spending money for your personal goals will not be a waste, but an investment that will be in the long run, favorable to you. Well, besides having your own portfolio on crypto, smartBCH and NFTs, these are the things that you should consider spending your money on.
1. Your Education/Training
Investing your money by getting the necessary education or training can help you boost your money earning potential. This can make you take a step upward the corporate ladder in your current work or potentially open opportunities for you outside of work. With the basic education requirement on most jobs these days, you cannot let this one take a back seat. As for trainings, these can help you have that additional edge over your counterparts to move ahead of the pack. Or even venturing on your own, you can utilize your applicable education/training to have your on side hustle and expand it once you see that possibility for growth.
2. Children's Education
If you have no children yet, but are planning to have one, better to start with the basic necessities to have a child first. You can never really be fully ready when that time comes. But it helps if you have something to fall back on when the time comes.
If you have children, this will become necessary as providing quality education for your children will not only be their achievement but also your own. As this would reflect on you, as a parent, taking care of your children's future. And it is also the responsibility of a parent to take care of the necessities of their children.
3. Buying Your Own House
Honestly, who doesn't want to have their own house. Every individual wants to have their own house, as this is one way of having their personal freedom. And buying a house should be planned, and not to be decided on a whim. There are a lot of factors to take into consideration when buying a house, and money is the most important factor to consider.
4. Emergency Fund
You will never know when you would need cash out of the blue. These are expenses that you would not expect to come chasing you. So, it is better to be prepared in times like these. A decent amount of money, say 10%, from your income source can be accumulated to build your emergency fund.
5. Retirement Savings
I know this is hard to do these days, but I included it here, for it is not to be taken for granted. Although we have government mandated institutions that require an employee/employer to contribute a portion of their wage to a fund. Having your own way of saving for your retirement is a necessity.
If you have a family, the time will come when your children are all grown up and have a family of their own, you can't be expecting them to take care of you. It is better to have your own retirement fund, for you and your partner in life, of course. But, if you have children that would take care of you when you're retired, that would be great! You'll have that extra stash to spoil your grandchildren then.
In summary, we have the following in the list:
1. Your Education/Training
2. Children's Education
3. Buying Your Own House
4. Emergency Fund
5. Retirement Savings
Final thoughts
There are a lot of ways you can go about having to spend your money for your personal goals. The important thing that I want to share is; have a list, write it on paper, notepad, stick pad, anything as long as it may serve as your guide to not lose focus on what is important to you. Your list may be different from mine, but if you have your list and have it somewhere visible or accessible everyday, every week or every month, you can gauge yourself as to where you are at that point in time with those personal goals that you have set.
If you have reached this part, I thank you for giving your time to read my article. I really appreciate it. I would like to hear from you by dropping a comment below. Thanks!
If you have time, you can check out my other articles below. It would really help me if you do. I'll appreciate it if you let me know what you think. Thanks!
Pick Ten Questions and Answer Challenge
My Journey Into The Crypto World
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(#03 Article | October 03, 2021)