Pimp Your Finances

(The following is a guest post from Vince at Scordo.com - click here to subscribe to his feed) 

If you’re a Twenty-something consider yourself very lucky.

You’re probably healthy, super educated (only about 26 percent of Americans have a bachelor’s degree), full of energy, have a full set of teeth, and have very few, real-world commitments.

You’ve probably just started to think about how to go about “living” in the world, but have continued with the same day-to-day / task oriented existence that you’ve operated under since kindergarten, as opposed to an existence  focused on goal setting and planning.

If, however, you are that rare twenty-something who can plan ahead and set specific goals, you may have already started to figure out how you can truly enjoy a high quality of life over the long term.

What I’m advocating is that twenty-somethings begin setting life goals as quickly as possible so they can optimize living life, and avoid the nasty parts associated with being an average American consumer (namely, materialism, debt, living in the moment, etc…).

The three primary goals to focus on are simple and they include money, happiness, and family, but the associated questions that come with setting the goals are hard to answer.

However, the quicker you arrive at goal setting via answering the questions below the better equipped you’ll be at figuring out how to start running your life!

I’m not going to answer the questions for you, but instead pose the right questions so you can begin figuring out how to answer, and in turn, begin setting the right direction in your life!  Good luck!

Money Goals

What do you want money to do for you?

Do you want to earn money so you can purchase stuff (such as a car, flat screen TV, clothes, etc…), or do you want to earn money so you can make money work for you (in the form of an investment such as the purchase of stock or a CD)?

Would you feel better about saving 10 percent of your salary or 70 percent?  Do you see money as a means of security or as a vehicle to help you acquire things? Do you want to earn more to secure debt?

How do you want to earn your money; that is, by working for someone else or by starting your own company?  Do you get excited when you think or talk about money or does money make you feel uneasy?

Happiness Goals

What makes you happy each and every day?

Do you like to make things, sell things, talk about things, research things, teach other people about things, etc…? Can you see yourself doing the same type of job every day or do you require new challenges?

Do you crave being around people so you can get things done or are you most happy as an introvert? Can you point to a few, consistent, things in your life that have made you happy?

Is your personality consistent or does it change with the weather?  Do your family members all feel happy about the same sort of things?

Family Goals

How important are your father and mother to you?  How important are your brothers and sisters to you?  Do you enjoy spending time with your family or did your family life end when you moved away from home at the age of 18?

Do you desire to start a family and produce children?  Do you require constant companionship?  Do you crave isolation so you can work, read, play video games, play music, etc.?

About the author: When Vince isn’t asking questions, he is the author of Scordo.com, a blog focusing on practical life tips, saving money, how-to’s, and the occasional recipe. He created the site to share his life experiences with managing money, a home, and a life. To read more of his posts, click here to subscribe to his blog.