My current financial goal is up there at the top of the screen, to pay for my MBA from a top business school without debt. But that goal doesn't tell the whole story. Staying debt-free and getting an MBA, in and of themselves, are not end all goals for me. Instead, they are steps towards financial independence and being able to pursue projects of interest. My underlying financial motivation, what really drives me to financially succeed and the metric by which I measure success, is freedom and flexibility.
My father thinks completely differently about his finances. For him, the driving force for financial responsibility is security, for him and his family. He wants to be absolutely sure his money won't run out in retirement and he wanted to secure his children's futures by helping pay for their educations. He wants to have money in the bank to feel secure no matter what happens. Over decades he's pinched pennies and managed his money to ensure that his family is secure.
My SO's parents are driven by a desire for peace of mind. They want to feel content with the choices they've made and not have to worry about the future. Not worrying over every penny is a major goal for their retirement now that their kids are settled and independent.
What is your motivation to be financially responsible?
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