What are your top two or three financial objectives?
Most people, when asked that question, fall short on goals such as achieving
financial security, sending children to college, or securing a comfortable retirement
plan.

The fact is, most of us have never spent much time thinking about which financial
objectives matter most. Instead, we muddle through our financial lives,
occasionally setting aside money for important long-term needs -- like savings,
vacations, or insurance. More often, we live day-to-day or paycheck to paycheck.
This program can change that because it helps you choose which financial goals
matter most so you can make them happen.

That's not as easy as it sounds, since financial goals -- even worthwhile ones --
continually clash with one another. Paying for a child's braces may rob money
that would otherwise go into his or her college fund, for example. And saving
effectively for college often wipes out any hope of putting adequate money aside
for retirement. Choosing among important expenditures like these can be truly
agonizing.

To get what you want most you must decide which goals will take precedence.
Then, work toward the lesser goals only after the really important ones are well
provided for.

Fortunately, you have at least one ally in meeting your long-range goals: time.
That's an advantage, of course, because of the power of compounding -- the fact
that small amounts of money, properly invested over long periods of time, can
grow into a significant sum. To take a trivial example, suppose you put aside only
the cost of a single candy bar -- about 65 cents -- each day. Invested in a tax-
deferred account paying 5 percent a year, that string of savings would grow to
$3,079 in just 10 years and to $16,521 in 30 years.

In order to put time on your side, you need to decide early which of the many
possible financial goals are really worth pursuing -- and start working toward them.

To get started, make a list of all the things that you're seeking to achieve. These
can range from the weighty (getting out of debt) to the luxurious (a car or cruise).
Try to write down all of the money-related items that will really get your motor
started. If you have a spouse or significant other or children, it's a good idea to do
this exercise together.