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Thread: What are your financial goals?

  1. #19

    Join Date
    Jul 2005
    Location
    Rural NSW
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    We only have 1 firm financial priority:

    To give our children the best quality education we can afford. So far we have spent well over 100K on this... and that's just for our first child... we have 2 more.



    A possible second priority is for me to return to uni.

    After a good education everything else falls into place.

    We rent. We don't want a mortgage... at this stage of our life that would mean we couldn't fulfill our first priority.

  2. #20

    Join Date
    Jan 2006
    Location
    Melbourne
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    Our financial goal is to pay off our mortgage while at the same time buy a second property to renovate. DH is a builder without the quaification who can turn his hand to anything renovation-like, so we would be silly to not capitalise on my ability to service a bigger mortgage and make a profit on another property.

    Like Bath, we want our kids to have access to a good education - we will do that by moving to an area with better state schools (one near us is Carl Williams' alma mater, so that pretty well sums this area up as far as I am concerned LOL!)

    I think I will always want to work so for me its just about using our money in the most sensible way.

  3. #21

    Join Date
    May 2006
    Location
    Victoria
    Posts
    324

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    Great thread!
    The option of secondary private school education for our kiddlie winks is our goal if that fits and is suitable to each child by that time.
    Have just done some projections of what it is likely to cost per annum by the time each child hits year 7, the first in 2018. Bowel loosening stuff!
    It's going to be tough and require us both to work hard to earn income and to subsequently invest smartly along the way.
    So we are still plotting the best way forward.
    It is very satisfying to finally reach your goals. We just paid out our mortgage whilst living frugally and going without certain luxuries whilst living on one income over the last few years. It was a very satisfying moment indeed. Also made us enjoy the money we did splurge a great deal more!

  4. #22

    Join Date
    Jan 2006
    Location
    Melbourne
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    ........screeches in with a new goal...........

    DH and I decided last night that if/when I am on mat leave with baby #3, we will take all 3 kids on a 3 month-long tour of eastern Australia (Melbourne-Flinders Ranges-Alice Springs-FNQ-Northern NSW-Melbourne). Now to start saving!!!

    Better hurry up and TTC - optimum time to do this trip would be July-Sept next year

  5. #23

    Join Date
    Jul 2005
    Location
    Rural NSW
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    Oooh how exciting Rory! Start a thread about it in the travel and holidays section! I terms of a financial priority, I too agree that travel is way above and beyond most material priorities for us eg a flat screen TV. If I had $5000 to spend it would be the beginnings of a trip to Europe.

  6. #24

    Join Date
    Jul 2009
    Location
    Karratha, Western Australia
    Posts
    215

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    we have acouple of goals and it is all going to be met by the beginning of 2012

    1. was to fall pregnant and have enough for everything we need..which is sorted.

    2. have the personal loan paid off by April 2010

    3. have the Prado loan paid off by December 2010

    4. Overseas for my 21s & DH 26th

    5. have a decent deposit & our own home by 2012

    living remote is def helping ALOT with our finanical goals. but i do miss perth ALOT.

  7. #25

    Join Date
    May 2005
    Location
    Canberra
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    Short Term - save as much as possible before settlement of our 1st Investment Property early next year as a buffer for both personal and investment purposes (and ensure we get finance to cover the cost of this property). Also a family holiday would be nice in the next couple of years.


    Long term - own around 4 or five residential investment properties (maybe a commercial one as well - who knows) and our primary place of residence outright, as well as have other investments (ie, stocks and bonds) to help fund our kids tertiary educations and see us through retirement.

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