What is your goal? (video)
What is your goal? (video)
This Step is about what you want from your money.
This Step is about what you want from your money.
You can watch this by clicking on the image below or by playing Step 01: Introduction on your DVD.
"If you're heading from Glasgow to London and you end up in Barnsley you're not too far off course, although you might be a bit behind schedule. On the other hand, if you end up in Cardiff then something has gone wrong with your planning – not to mention your map reading!"
The transcript below is a repeat of what is said in the video.
Video transcript
Video transcript
Sarah
This is Step 01 of Working Money and here we'll be looking at your goals and asking questions to help you find out what they are. For instance, "What do you want from your money?"
But why do we start here? Let me introduce you to
our financial expert, Bob Sterling.
Bob, most of us don't
really have any idea what our lives will be like in a few
years' time, so why do we need to think about setting
goals?
Bob
Well Sarah, I would argue that's exactly the reason you should be setting a goal. Sure, you can't tell for certain what might be around the corner and we're not asking you to predict the future, but you do know what you might like to be doing. And that's what all this is about. Setting a goal helps give you a focus, it helps you know whether you're on track for where you want to be in the long term and know whether you've achieved what you set out to do. The goals here are purely personal, so if you don't make it, well it's a shame, but no-one's going to give you a hard time about it.
Sarah
Right, so the goals are more of a marker point than a do-or-die demand?
Bob
Oh absolutely. Think of it like the
first stage of a journey if you like.
If you're heading
from Glasgow to London and you end up in Barnsley
you're not too far off course, although you might be a bit
behind schedule. On the other hand, if you end up in
Cardiff then something has gone wrong with your planning -
not to mention your map reading!
Knowing your goal helps
you make sure you're setting off in the right direction -
that's all. Don't forget that you can change your goals
later if you need to. Perhaps Cardiff suits you
better than London anyway.
Sarah
Ah thank you Bob. I think I can work with that. So the main point is that having a clear goal should help you to reach it… but that you can change that goal in the future if you need to?
Bob
Exactly. I couldn't have put that better myself!
Sarah
Well we fixed up some cameras to watch our colleagues' reaction to the idea of setting goals for their money. Let's meet John, Louise and Mark…