The digital display on the bedside clock reads 5:59AM in the morning and the birds outside have begun chirping. The covers feel like it's hugging your torso and the pillow comforts your head. Suddenly when the clock strikes 6:00, the blaring noise from the alarm resonates throughout the room. It's time to wake up to begin another day at the job site. Millions of Americans wake up each day to return to the place that put food on their table. The start of a new day has just begun...

While not everyone wakes at this hour of the morning, there're millions that have to work at a job to pay the bills. Millions more will find that they don't have enough money to cover their basic needs. Sometimes uncontrollable matters cause this problem. These include such things as illness, old age, racial or social discrimination, and financial conditions such as inflation and deflation. However, the things that people do have control over are their level of education and their choice of where they want to work. These two things greatly affect income.

When people plan their finances, they must be able to answer two questions. First, they must be able to identify the families or their own financial goals. The second thing to consider is what ways can these goals best be achieved. However, it's to separate financial goals from social, cultural, and other personal goals. It's funny how the majority of people would want a combination of these goals. Here is a list of some of these goals that people look for the most:

• Happiness - There are some philosophers that claim that happiness is the key of life for the majority of most people. However, to feel this euphoric feeling, one must be able to travel down many paths in search for this key.
• Money - This is probably one of the biggest things people consider for a goal to attain. Keep in mind that money is needed for many possessions and materials. However, just collecting money to stow away isn't a goal most people wouldn't do. After all, you must spend a little right? But there're many people who save as much as they can for some sort of future spending.
• Health - Sadly, without good health, most of the other goals many people try to attain becomes worthless. In order to spend money, you have to be able to make out the house right? Keep in mind that rising medical and dental costs makes it a necessity for health care to be accounted for.
• Leisure - Sure, most people love to have fun. Leisure activities should be included in a budget because all work and no play make a very boring person. Nothing beats a hard day then to enjoy the rest of the day relaxing by doing the things that give you personal satisfaction and relief.
• Travel - For some people, traveling to some remote or exotic section of the world may be just what the doctor prescribed. It can add fulfillment and joy in the heart to be able to experience different cultures and visit different states or even countries.
• Security - For many people, the feeling of being financially safe is what pushes their efforts, giving them a sense of happiness and satisfaction. It's a known fact that people who are financially set work hard to not suffer from lack of money. However, this security can vary immensely from family to family.
• Standard of Living - Most people strive forward in life to raise their standard of living throughout most of their lives. Simply put, standard of living is defined as the way people live as measured by the kinds and qualities of the products and services that are made available to them. Ponder on this for a second, two or three generations ago, the material goods thought as necessary were unheard of. Everyone somehow wants to ‘keep up with the Joneses.' No matter what level the present standard of living is, most people wouldn't mind to live better by having additional things.
• Estate - It's a common thought that most people would like to provide their children with a better way of living life than they had when they were the same age. Having an estate for heirs is an important financial goal for many people who work.

People who work are subject to be limited in obtaining their financial goals by the total of their lifetime income. This includes income that is received even after working on a job. These ways of income include social security payments and earned dividends on life insurance and/or from a savings account. The sad part about earning an income is that most money received is consumed within a short amount of time simply by the normal costs of living. However, it doesn't have to be that way.

Assets are defined as the total of unconsumed income. This includes savings and checking accounts, the value of life insurance, and owning a house and other property. These items are of value that can be used or consumed in the future. If a person invests this ‘extra' money, then assets can give someone a future income in which to live upon. An individual's assets, when combined to any remaining lifetime expected earnings, can equal to the sum of financial value available for personal money planning.

Financial Value of an Education

There's a very strong and working relationship between having a degree and your future income. Those who finish college and earn a degree usually fare way better than someone who just graduated from high school. This average is upwards to two to three times higher. However, getting an education can cost a consumer in two ways. The first one is lost income while you're in school. The second deals with the educational costs of purchasing books, supplies, etc. The good thing to look forward to is that these two expenses are minimal compared to the future financial benefits one receive upon completion of their education.

Keep in mind that getting educated doesn't have to stop once you earn your degree. That is only the first step. Many of today's jobs require that their employees are continually educated on the current methods and new technology that presents itself. For example, in the computer industry, a computer that is the most advanced can become outdated in a matter of months. This makes it very important for individuals to constantly stay abreast with changing times. This doesn't always mean that you have to go back to college. You may be able to stay abreast by attending trade schools, vocational institutions, or serve as an apprentice under a skilled trainer. Today, there are more and more companies and businesses that will pay for their employee to return back to school for the right education. They do this in order for their employees to improve their job skills relevant to the position they currently have.

A person's choice of occupation may greatly affect the amount of income earned throughout a lifetime. Although getting a steady check is usually on the top of many peoples list when they are asked what they want the most from their job, there are many more who value job security more. As the world continually finds ways to streamline production, this only equates to many jobs becoming obsolete or dropped all together. Then there's the fact that where you live may have a definite impact on your income. For instance, people who live in small or rural communities are generally paid less than their counterparts who work in larger metropolitan areas. Even age and experience can be a factor. For example, there can be two people who have the same occupation and work at the same place. However, while one may be a little older yet earn a higher income because of his or her experience, the other may be a bit younger but earn a lower base pay because of inexperience.