Session 4:
Money and Your Dreams, Part 2
Besides the review of our reading and our check-in, we discussed how we felt about doing the homework. A few participants had a hard time with it but saw the need to become more comfortable with budgeting. Both Kim and I emphasized that budgeting is the key to you being successful since you are telling your money where to go, not wondering where it went. Yes, Kim was a participant in a Financial Peace University class at this time and I’ve participated in several classes myself.
We did an exercise on calculating a number where we would feel “financially free”. Then discussing what things cost in relation to that number. We also talked about the financial component of our dreams. Some dreams will cost us more than others and we need to account for the cost in our planning for the dreams. We also talked about calculating our net worth at this specific point in time. We can come back to that later and see how things are going.
Before ending the session, we had to do short personality type quiz. Kim would give us our results in the next session.
Our homework includes completing the financial components for our target dreams and to calculate our net worth calculation. We also needed to look at what works and what doesn’t work in our budget and what is the hardest thing about implementing the budget.
In doing my homework (after my vacation), I did some internet research on the cost of apartments in the Orlando area. I’m seriously thinking about retiring there!
Myers-Briggs personality types in the next post!
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