Comments on: Creating a Personal Finance Goal http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 By:   Savings Account Allocation Breakdown by No Credit Needed http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/comment-page-1/#comment-130718   Savings Account Allocation Breakdown by No Credit Needed Sat, 04 Oct 2008 11:01:42 +0000 http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/#comment-130718 [...] a big fan of setting goals and creating plans - both short-term and long-term.  It’s important to me to clearly define [...] [...] a big fan of setting goals and creating plans – both short-term and long-term.  It’s important to me to clearly define [...]

]]> By: 63 Fantastic Personal Finance Posts : SCN - Personal Finance http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/comment-page-1/#comment-59679 63 Fantastic Personal Finance Posts : SCN - Personal Finance Sun, 09 Dec 2007 18:11:37 +0000 http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/#comment-59679 [...] Creating a Personal Finance Goal - No Credit Needed [...] [...] Creating a Personal Finance Goal – No Credit Needed [...]

]]> By: No Credit Needed Blog » Blog Archive » (Almost) Everything I Know About Debt Repayment! : Personal Finance Blog About Debt Repayment, Saving Money, and Retiring With Wealth http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/comment-page-1/#comment-1912 No Credit Needed Blog » Blog Archive » (Almost) Everything I Know About Debt Repayment! : Personal Finance Blog About Debt Repayment, Saving Money, and Retiring With Wealth Fri, 09 Mar 2007 20:21:43 +0000 http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/#comment-1912 [...] Creating a personal finance goal. [...] [...] Creating a personal finance goal. [...]

]]> By: The Stubborn Capitalist » Blog Archive » 63 Fantastic Personal Finance Posts http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/comment-page-1/#comment-1233 The Stubborn Capitalist » Blog Archive » 63 Fantastic Personal Finance Posts Sun, 25 Feb 2007 21:18:25 +0000 http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/#comment-1233 [...] Creating a Personal Finance Goal - No Credit Needed [...] [...] Creating a Personal Finance Goal – No Credit Needed [...]

]]> By: Vinit Nagda http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/comment-page-1/#comment-508 Vinit Nagda Fri, 09 Feb 2007 21:12:27 +0000 http://www.ncnblog.com/2007/01/26/creating-a-personal-finance-goal/#comment-508 Very interesting post about creating personal finance goals. I'd like to point out one error. "What about the second key? Be realistic. If you make $25,000 and have 3 kids, and $30,000 in credit card debt, don’t set a goal of being out of debt in 6 months. At the same time, don’t set a short-term goal of (fully funding my retirement, fully funding children’s college, buying a new car, etc.). On the other hand, if you make $100,000, and have $30,000 in credit card debt, don’t set a goal of being out of debt in 6 months. Set a goal of being out of debt in 3 months! Be realistic." If you're making $100,000 your income before taxes each month is approximately $8500, which after taxes might reduce to 7000$. You can't pay off 30,000$ off in 3 months then. Be realistic ;-) Very interesting post about creating personal finance goals. I’d like to point out one error.

“What about the second key? Be realistic. If you make $25,000 and have 3 kids, and $30,000 in credit card debt, don’t set a goal of being out of debt in 6 months. At the same time, don’t set a short-term goal of (fully funding my retirement, fully funding children’s college, buying a new car, etc.). On the other hand, if you make $100,000, and have $30,000 in credit card debt, don’t set a goal of being out of debt in 6 months. Set a goal of being out of debt in 3 months! Be realistic.”

If you’re making $100,000 your income before taxes each month is approximately $8500, which after taxes might reduce to 7000$. You can’t pay off 30,000$ off in 3 months then. Be realistic ;-)

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