This is how you can set goals and achieve them

I have always been inspired by this episode of the Mahabharata, where Arjuna focuses only on the eye of the bird and can not see anything else. The incident never fails to motivate me to set goals and work towards achieving them.

Of course there is a lot to be said for the pleasure the, in surprises and even running out of money on a holiday and then slumming it out, which is an adventure, an experience in itself!

But all of life can not go on directionless and without purpose. A goal when accomplished gives immense satisfaction and a sense of accomplishment which is quite unparalleled. 

Goals give direction to life, a purpose to living and form the very essence of it.
As in finance as in life...it is necessary to have put numbers next to the goals as well.  I want to be a scientist is a goal and I need to study well, this course and from this university is your path to it.

Additionally you only need to put some numbers down such as the course fees is this much, the living expenses during the 7 years of PHD is this much.

Likewise once working, you can set goals like
> 2010 end - a bike costing Rs.65,000
> 2012 - corpus to contribute towards self wedding expenses Rs.300,000

A married individual with kids will obviously have some more goals which include say
> 2011 - Trip to Disneyland (HK) Rs.400,000 (That's my goal for next year incidentally)
> 2017 - College admissions for older child Rs.200,000

Once goals have been set, short term, medium term and long term, it is easier to plan finances and even see if you are in a position to achieve these goals. If not you can revise either the goal or alter your finances depending on the priority of the goal.

It would be better to know this rather than shoot in the dark, where you end up 5 years later having had a goal of trekking in the North East for your 5th Anniversary but making do with a trip to the nearby resort due to shortage of funds.