Beech Tree News Network

A recent newspaper article reported that “driving in America has stalled.” Total vehicle use (the collective miles driven) peaked in 2007. Even though our economy has shown signs of recovery, auto use has not. The article described contributing factors for the decline and quoted economist Sean McAlinden as saying, “… I think it’s all economics” [Lowy, J. (2013, August 29). Americans’ drive time falls. Daily News, p. D1.]. Decreased driving may be symptomatic of a changing America.

Decreased driving frees up money for individuals and families, allowing them to use that money in other ways. Some individuals may be focused on a short-term goal, such as purchasing something in the near future. Others may be focused on a long-term goal, such as saving for college, a home, or retirement. Thus, Americans seem to be thinking before spending.

I asked family and friends the question: If you were to set a financial goal for yourself or your family, what would it be?  People reported the following:
•    To get out of debt forever!
•    To be able to take care of myself, help my family and others. Use what I have to make a difference.
•    Not to have a house payment or a car payment when I retire.
•    To make sure we have one year of house payments in advance.
•    To be debt free by retirement and to retire at 62 or younger.
•    To save $1,000 per year or better.
•    To pay off student loans within 10 to 15 years.
•    To have all the toys I want and be debt free.
•    To pay one extra house payment a year.
•    To be debt free.
•    To get myself and my two children through school and still have the things we need.
•    To be debt free or to be house-payment free in less time than the full term of our loan.
•    If you can’t pay for it right now, then don’t buy it. Never borrow to buy toys, only borrow to buy a house. If you borrow to buy a car, get what works, not what you want.
•    My advice would be to start saving early in life – in your early 20’s with professional investment advice. Start early with small amounts of money and let time and consistency work for you. Too bad I didn’t take my advice!
These goals have the common vision of being debt free.

“Setting goals is the first step in turning the invisible into the visible” (Tony Robbins). Students in my youngest granddaughter’s school set goals each week. Then at the end of the week, the student and teacher determine whether the goal has been met. My granddaughter’s most recent goal was to push in her chair. That sounds easy. But, for my adventurous kindergarten granddaughter, it was a challenge. Financial goals are much greater challenges; however, like pushing in a chair, we can focus on developing habits.

Decreased automobile use is one way people can cut back. However, Confucius said, “When it is obvious that the goals cannot be reached, don't adjust the goals, adjust the action steps.” Then, “May he give you the desire of your heart and make all your plans succeed” (Psalm 20:4, NIV).