1. Vision, Goals, Opportunity Costs

2. Alice IN Wonderland video

3. Vision The desired outcome of your values based on needs and wants.
The foundation of you goals.

4. Goals
Goal – the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future
Financial goals – specific objectives to be accomplished through financial planning
Education goals - enable individuals to prepare for future success in the workplace

5. Goals Short-term goals – specified as less than one year
I plan to raise my English grade from a C+ to a B by the end of this academic year by asking my older brother to peer review my research paper prior to turning it in.
Underline events in your letter that can be achieved with a short-term goal.
Long-term goals – specified as more than one year
By the end of the next academic year I would like to purchase my first car by saving $50 per month from my part time job.
Put parentheses around events that can be achieved with a long-term goal.
Delayed Gratification – Sacrificing what you want now so you can get what you really want at a later date.

6. Opportunity Costs
If you spend your money now then you won't have money later for the things you truly value.
Let’s say you have been doing chores all week to earn one dollar.
At the end of the week you go to the toy store only to find that the toy you really want costs just under three dollars.
"No problem" you say to yourself, "I'll do chores for two more weeks and have my three dollars."
However, at the end of the second week you go back to the toy store and find that there is two dollar toy that you also like.
Now, you don't like it as much as the three dollar toy, and you still want the three dollar toy, but you also like the two dollar toy.
So, you buy the two dollar toy now. The three dollar toy is the Opportunity Cost, the cost that you gave up, "paid" in order to settle for the two dollar toy.

7. Sacrifice and Happiness
Are you sacrificing your ability to have a comfortable and early retirement for some "toy" that you think you want now?

8. Remember…
Value – Something that is desirable, worthwhile, and important
Need – Something necessary or required for life
Want – Something unnecessary but desired
Scarcity – Not enough for everything to be free
Goals – The end result of something a person intends to do
A person’s values and perception of needs and wants influence personal financial decisions!