Dreaming Big, Saving Small
In my interview with yoga teacher, author, and entrepreneur Kimberly Wilson, I left out one topic we discussed: long-term financial goals. Wilson explained that one of her dreams is to own a cabin in West Virginia. It would be nothing particularly big or fancy, just a place where she could escape the intensity of Washington, D.C., for some peace and quiet on the weekends.
She offered her advice to others with big dreams: Cut out the things that may not be as important, such as a gym membership, if you want to save for something bigger, like a trip to Italy.
My personal financial goal is to become a homeowner. This dream feels quite far away given current housing prices (there has been no dramatic downturn in the Washington area), but I am trying to put aside money each month that can one day go toward a down payment.
Readers, what are your financial goals? Are you saving money to help meet them?
Tags: personal finance
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Reader Comments
start a spa
I have plans to open my own spa one day. I put $75 at least aside each month. If I can get a few thousand then I can get started.
Saving
I enjoyed your article. It reminds me of Suze Orman's book Women and Money. Her book has helped me understand the importance of making sure I have all of my financial matters in order. It takes time, practice, and commitment. I am saving money from my business as an author/writer, artist, yoga teacher, and Reiki practitioner to increase my skills and self-published books in 2009. Right now I am saving a portion of my business income for professional development. I am really happy that I was able to save $300 for my Reiki level 2 certification. I am also saving for golf lessons, yoga for golfers teaching certification classes, and the self-publishing novel package fee for 2009. I also use the support of a financial advisor who I have been working with since 2002. My personal savings goal is to build my emergency fund up to 12 months of savings. Right now I am at 3 months and some change. I have to say that saving, spending, and reducing debt takes time, but it is worth it. It makes you really look at how you live.
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Nick9717@yahoo.com
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