I have decided to spend the next 1.5 months gearing up for January - by making goals.
I have decided that annual goals are great, but I want to start off with monthly goals. Baby steps.
Some of the goals I am considering are:
> NSDs
> No New Debt
> No Running Credit Report
> Savings Contribution
> Coupons
As I mentioned before, we are in the middle of a huge cleanup of a mess that was made (of the debt kind, of course). I am hoping, if we throw everything at that mess over the next few weeks, we can start off in January on track. We will still have debt repayment, but we won't be so far behind.
Do you have any ideas for mini-goals to help save money, spend less, and stay on track financially? Share them with me!
Gearing up for January
November 11th, 2008 at 09:12 pm
November 11th, 2008 at 09:52 pm 1226440329
I found a budget that me and my spouse put together to be incredible helpful. Not only financially, but it helped a lot with our communication. Nothing is hidden, everything is out there, and you are on the same page to discuss goals.
I also found prioritizing our goals to be a big help and focusing on only a few goals. Instead of saving for retirement, getting out of debt, paying of the house, retirement saving, college saving, etc; pick one or two to concentrate on first. Chances are you won't have enough resources to hit all of them and if you did the progress would be pretty slow. I picked 401(k) savings and consumer debt for 2008.
I also found breaking the goals into manageable pieces helped a lot. Instead of saying I have $49k in debt to pay this year, I broke into CC, car, medical, etc and decide which one I was going to tackle first.
Lastly, I posted my goals and progress on the sidebar of my blog. This really kept the goals in focus.
I hope that gives you some good ideas. Good luck!!
November 11th, 2008 at 10:03 pm 1226441032
November 11th, 2008 at 10:44 pm 1226443481
November 12th, 2008 at 12:51 am 1226451095
The other goal was to figure out how to use a set amount of cash (and cash only) for grocery and toiletry purchases and also lunch out at work. After some fumbling, I figured it out and it works great. I'm rarely over-budget in those areas.
All the best to you. And Koppur, I love your idea of tallyng up. I'm going to start that this month.
November 12th, 2008 at 05:04 am 1226466273
Get your Emergency Fund started with your savings money and any other money you can get your hands on that doesn't need to go to debt! Save coins, turn in aluminum cans, sell something on ebay or craigslist, increase your insurance deductible for a lower premium. Stop cable, caller id, change cell phone plans, stop the subscriptions and get a refund.