Posted: 30 Dec 2008 12:27 AM CST
The topic, “You are what you think you are”, popped up in my life as a table-topic during the 2007 Toastmasters annual convention in Hong Kong where I was a participant in the table-topics contest. A table-topic is a topic given to a speaker without earlier preparation or knowledge who then has to speak on it for one and a half to two and a half minutes.
I chose this as the title because in many respects, we ARE what we THINK we are. If you are into personal effectiveness and self-development literature, the power of goal setting and focussing your mind on what you intend to achieve is an important part of success in any endeavour.
Why Set Goals and Make Resolutions?
In order for you to improve and to move closer to your goal of financial freedom, you need to set goals and more importantly, take action to achieve them.
I personally am not one to only set resolutions or goals at the end of the year as my net worth worksheet highlights my goals for financial freedom prominently throughout the year. However, it’s helpful to take stock of one’s performance for the past year and to plan to make improvements for the year ahead.
Panzer’s Financial Freedom Goals for 2009
1. Increase income from alternative sources
My blog monetisation efforts cover my out-of-pocket costs incurred and I’ve learnt more about web 2.0 technologies than I ever did just reading about it. I realise that the seeds I sow now are actually for me to develop a viable lifestyle post-retirement. Whilst I am working towards financial freedom, I am open to working another 20 years or so if I am fit and healthy. However, increasing income from my blogging efforts as well as to derive more dividends, interest and yields from investments will help me diversify my income sources and also help me grow my means towards financial freedom is a shorter period of time.
2. Simplify my lifestyle by 30%
Ever since I started tracking my monthly expenditure, I’ve become more attuned to trying to simplify my life. I sleep early and get up early due to my daughter’s schedule. I’ve decided to reduce the amount of clutter in my life by buying fewer consumption items and by throwing out stuff I don’t need at home.
Weekends see me cooking for my family for at least one meal of each Saturday and Sunday and in bringing my family to public parks that cost only some petrol as they are mostly free (including parking!).
Enjoying life doesn’t have to always mean spending money. Going to the movies and dining out is fine, but it can be supplemented with visits to public spaces provided by Nparks.
3. Exercise regularly 2-3x a week
I’ve slimmed down since my daughter was born and aim to maintain my current weight. I realised that regular exercise is the way to continue with the healthy lifestyle. Until my daughter gets older, I will have to schedule exercise sessions at work during lunchtime. Fortunately, my workplace has a gym nearby that staff can use. No more excuses for not hitting the treadmill at least 2x during weekdays!
Your Goals for 2009
What are your goals to help you move closer to financial freedom?
Share with Panzer whether it is related to living within your means, growing your means, saving and investing or protecting your means.
Be well and prosper.
Related Posts:
How to Conduct Your Own Annual Review – Chris Guillebeau