When planning for a big purchase or the future, do you often get bogged down with how much things cost? This can even happen even with smaller purchases in reverse. You see something marked down at 75% and have to have it, simply because it is a good deal.
The problem with finances is money. Yes, this sounds odd, but in reality the actual money part should be the least focus. When looking at your financial situation, stop thinking about the actual dollars and start thinking about what you want or need.
The question shouldn’t be “how much will this cost?” Instead it should be “how bad do I need this?” The goal in proper money management is to stay focused on your goals. It is a bit like looking at the forest, and not the trees.
A good example could be something like saving for your kid’s college education. It would be easy to look at the estimated cost of one child in college as $20 to $70 thousand a year and think – no way! Instead, you should look at the goal of wanting your kids to go to college. Once you have made the goal, don’t worry about the cost. Start looking at how you can save for it. Even if you can only save $100 a month, it does not equate to defeat. Well invested, a $100 a month can greatly help a child with college. What you can’t come up with on your own can still supplement other options like financial aid or loans to make up the difference.
A scenario like this can often scare parents away when they just look at the dollars. Trying to come up with $20,000 for one year of college may seem impossible. In reality, that doesn’t really matter. What matters is you want to try and do your best to put your kid in college. So, start setting something aside. Don’t let the dollar figures scare you away from your goals. No matter what your ultimate money plans may be, keep this in mind.
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