I’ve been meaning to write this post for a while. Namely because I’ve been so busy lately that I completely forgot to write down my money goals for 2012. Also, I was still in the midst of resolving the whole “a job candidate stole my wallet” fiasco.
Now that I’m settled in with a new bank THAT I LOVE, paid off the post-Christmas/post-I didn’t have a debit card debt and paid off my yoga/personal development spree I can get back to focusing on my money.
Last year was all about creating a savings plan, getting my retirement/brokerage accounts going and growing my side hustle. This year I’m taking it a step further.
Get Back into My Savings Plan Groove
When we’ve been rocked financially – like I was when my wallet was stolen – it can be hard to get back on track with your money. Really hard. It wasn’t even until a couple of weeks ago that I was able to close my Bank of America account and deposit the money I had in there into my new bank account. That alone caused me a ridiculous amount of stress.
But now it’s time to get my head back in the game.
I’ve had a savings plan set up since last year that worked wonders for my bank account (you can read more about it in my ebook) and I need to get back to doing that. Hopefully this year I can save even MORE money.
Get an Accountant.
Yeah, it’s great to have those at-home tax programs but sometimes we can miss things. Besides once you add retirement accounts, investments and your side hustle money into the mix things can start getting a little complicated.
I’ve never been good with numbers (hence I’m an English major). With that being said it’s time for someone to get themselves an accountant.
(P.S. Anyone in the Miami area have any recommendations?)
Learn the Difference Between What I Want and What I Need.
This is a HUGE one. I spent way too much money in 2011 on stuff I thought I needed – both in my personal life, my blog and my side hustle. I thought I was making investments I would actually follow through on (*ahem* going to the gym).
This year my goal is to learn the difference between what I want and what I need so as not to get lured by shiny things or unnecessary business investments.
Prioritize The Things I Want.
Everyone needs to learn to prioritize their extra spending money – especially those of us who like to be very active and try new things.
Some decisions are simple, you need to pay rent more than you need a new pair of shoes. Some other decisions may be a little cloudy, a yoga workshop or that awesome coaching course. Both are things that will help me and both are things I’d really like to do.
Obviously money isn’t infinite and we can’t always do it all, so we have to learn to prioritize. Or, at the very least, make a list so you do one at a time. When you are participating in one you can start saving money for the next one on your list.
Read The Intelligent Investor by Benjamin Graham.
This book has been sitting on my bookshelf since I bought it almost a year ago. It’s not that I don’t like to read and learn new things, it’s that I hate numbers. In other words when you’re explaining things like ROI and market fluctuations I get lost. As a result, it takes me a bit longer to really comprehend these things. This year I will finally get through the book and apply it’s principles to my own investments and retirement account.
Perhaps these goals are not as specific as last year, but definitely just as necessary as I learn to manage my money.
What are your money goals for 2012?