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6

Congratulations. You have learned to "throw money at a problem". Getting home fast or avoiding doing laundry are clear, repeatable, understandable problems and you can figure out your dollar threshold for it. Unfortunately, the other two examples are not "problems". They are "challenges". The challenge of playing the game of price comparison, the challenge ...


4

In my opinion, no. Money is the worst possible goal you can have. It's a tool. What do you plan to do with the money? Start a business? Buy a nice car? Buy a house? Buy a supermodel wife? Money can work as a checkpoint, e.g. I want respect -> I want a Mercedes E Class -> I want a million dollars. It's more quantifiable, but in this case really have to ...


4

The big advantage of concrete goals like dollar amounts is that they are easily quantifiable, which means you can easily analyze them (eg. making a graph of money over time, making a pie chart of your budget, applying statistics, etc.) Quantification helps cut through many of the psychological biases people tend to have. Numbers promote a more scientific ...


2

If I was in your situation, I would probably first try and figure out how much 'free' time I want or need. What is this 'free' time going to be used for? Is it just to sit back and relax? Do you want to work on a hobby/project? Do you want to travel? Do you want to spend more time with family and friends? Once you have a number in your head, it will ...


1

Goals are always good. If you want to set a goal where, by a certain date, you will be making a certain amount of money, it's fine, as long as you realize you're not finished. It's similar to the concept of the "New Year's Resolution"...I want to lose twenty pounds this year, I want to have $10,000 in my bank account by December 31, etc. The goal is clear, ...


1

What I see as a problem with money goals is that people will often sacrifice the things they really want to reach a dollar figure. So suppose your goal is to make 100K by Jan 2014. Right now you make 60K in a job you enjoy with people you like to work with. You work to get a promotion to meet your monetary goal, but even after you get it, you only make ...


1

I think money goals can be a disaster. Improving your presentation skill so you can present like Steve jobs and after that you can earn your money is the more appropriate and motivating goal in my opinion. Not the money coming first. Money is one of the most important thing in our life but it is very important that it should not take over our lives and ...


1

It should entirely depends on what you need to do- if one of your needs is that you want to get a new apartment and your rent is X more than your current place, you may want to have a goal staying that you will increase your monthly pay by X before you buy it. As @Muz says though, having money itself as the goal is a bit of a negative goal as it doesn't ...


1

Other ways to spend money to gain time include: hire a cleaning service hire a dogwalker use a personal shopper use a travel agent have your drycleaning picked up and delivered have your car picked up and delivered (for maintenance) have your groceries delivered (either from a grocery store or a CSA) have your meals delivered This last is a bit different ...



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