Monday money minute: Crystal Ball

iVillage Member
Registered: 02-26-2010
Monday money minute: Crystal Ball
5
Mon, 06-28-2010 - 7:45am

Good morning! This is the Budgeting board, of course, but budgeting isn't just about getting by from paycheck to paycheck. Managing your cash flow can enable you to live the life you want to live. So....what is the life you want?


Take a minute to look in your crystal ball. Or, if you don't have one, just use your imagination. Where do you see yourself in one year? Five years? Twenty years?


Please share your vision of your ideal future and we can talk about how to make it happen!

Photobucket

iVillage Member
Registered: 01-12-2008
Mon, 06-28-2010 - 11:54pm

In one year I imagine that I will have won the lottery live in a HUGE house, and still have my doggies. Oh and we will still be driving our Fords, no need for new cars that is a waste of money, and I'll have a maid to clean the house :-) LOL


No really, I imagine I will have two children, and cloth diapering at the point. (I'm thinking about purchasing them now, to use for Carolynn too.) I'm praying to have our car paid off by then, and saving to replace Dales truck. (do'nt worry we won't replace untill need be.) Having no debt, and if we want to go to the zoo, or ammusement park we can afford to, and it won't contimplate any part of the budget.

summer siggy Photobucket


Photobucket
iVillage Member
Registered: 02-26-2010
Tue, 06-29-2010 - 9:38am

I did this 5 years ago and it all worked out! So many things like falling in love, getting married, having a baby, selling a house, staying healthy, etc, are not typically things that I could make happen on a whim. People get sick, conditions change, stuff happens. But I set up the foundation as best I could and didn't give up.


So, here are my goals, in a nutshell:


1 year - Be pregnant or trying to conceive #2; Still living well with Rheumatoid Arthritis, Making friends in our new town (we're moving to Norfolk VA in Sept 2010)


5 years - Raising kids as a stay-at-home mom, starting to home school, Still living well with Rheumatoid Arthritis, Starting to buy/build our "forever" home

Photobucket

iVillage Member
Registered: 12-04-2006
Tue, 06-29-2010 - 8:26pm

Where do you see yourself in one year? Five years? Twenty years?
Hmmm, this one really challenged me.

In one year, I see myself without a credit card since it will be paid off. Who needs those pesky things when a debit card will work just as well? I also see myself 6 months away from completing my degree; and preparing to move as my landlord will be preparing to do some major renovations to where I'm currently living - however assuming that my income doesn't rise significantly between now and then, they are paying moving costs and finding me a place in one of their other complexes.

In five years, I see myself being clear of all debt except for my student loan. I will either have traveled or still be traveling. If I have finished traveling, I will be saving for a home of my own. My student loan will be paid off, or at very least, close to being paid off.

In twenty years, I will be living in a home of my own, possibly with an OH. I honestly don't know whether I will have children, but I've got time to make those decisions.

Lyn

Lyn

iVillage Member
Registered: 12-05-2004
Tue, 06-29-2010 - 9:59pm


In one year, I hope to have an emergency fund built up, be living much more frugally than I am now, and be feeling optimistic looking into the future. :-)

In five years, my son will be in his senior year of school, so college costs will come into play. We're saving what we can now, but with the economy, it's not nearly what we used to save. Hopefully he'll have been working for a year or two by this point, and I'm hoping to encourage him to put some of his own money away for college costs as well.

In 10 years, we'll have five years left on our mortgage, and my son will be (hopefully) finishing college. We have already told him that if he chooses to go to a local college (and we have a few within 10 minutes of our home), that he can just continue to live here....forget having his own rent to pay...and just concentrate on his studies with maybe a part-time job for gas money and insurance, etc. So I expect our budget will probably stay the same.

iVillage Member
Registered: 12-05-2004
Tue, 06-29-2010 - 10:10pm

Oops...I just realized that the last prediction was supposed to be 20 years out. lol

Ok, in 20 years, my son will be out on his own, maybe be married, and Dh and I will still be in our home that we're in now. We bought this one in 2007 after majorly downsizing our belongings, and it was bought with the plan that this would be our retirement house--so small yard, small house, all one level with no stairs, low maintenance required, etc. I'll also be putting my pet care decision into play. We currently have an 8 year old dog, and I raised him from a puppy. However, after visiting our local shelter and seeing the older dogs, the ones with serious health problems, who maybe have a year or two left, being passed over, it broke my heart. I can't bring one home now with my current dog (he doesn't like other dogs), but I told DH that when we're retired, and it's just he and I in the house, I would love to go to the shelter and bring home a dog that is very old and has too many problems for anyone to want him/her. And just love that little (or big!) dog, making them feel wanted, loved, and cared for....making sure they have all the medical care they need to be comfortable, and make sure that when their lives do come to an end, that they pass on with the knowledge that someone loved them and made them feel special. Thankfully, my DH is A-Ok with this plan. Naturally, this is going to cost some money for vet bills and things, but I'd gladly give up trips and other retirement norms to give love to a sad lonely pet in it's final years.

Pat :-)