Goals, Motivation

A Fresh Start

It’s almost May, which means that one-third of the year 2009 is gone!  I don’t know about you, but time seems to have flown by, and it seems like only days ago, I was writing down my 2009 resolutions.  (Remember those?  Yeah, that’s that pesky list of things we promised we would do in 2009.  I wonder what percentage of folks will actually follow through and do something about their resolutions.  40%?  20%? 5%?) If you are like me, you probably have motivational highs and lows.  One day, you are really in to saving money and getting out of debt, the next you are looking at a new set of golf clubs, trying to justify an unnecessary (but really cool!)…

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Goals

Follow Through

I really enjoy playing golf.  I try to play once or twice a month, and if I had more time and money, I would play more.  I am a pretty decent striker of the ball, but I do have one swing fault with which I constantly struggle.  I find it hard to follow through and really finish my swing.  The club, instead of finishing high and above my left shoulder will get stuck, and I’ll either block shots to the right or pull-hook them to the left.  I’m always working to correct this swing fault. Not only is it important to follow through when swinging a golf club, it’s also important to follow through when managing our personal finances.  How…

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Goals

Setting Personal Finance Goals – Eliminating Overlapping Funds

Now that I have written about creating your ultimate financial goal and establishing your long-term financial goals, it’s time to think about short-term and intermediate-term goals.  I’ll also use the terms open-ended, close-ended, and overlapping funds. Our Financial Plan If I were to go back in time, say four years ago, and map out my financial plan, here’s what it might look like – Financial Plan Year 1 Establish $2000 mini-emergency fund Eliminate all debt Contribute enough to 403(b) retirement to receive match Purchase adequate insurance (health, life, disability, property, automobile, etc.) Year 2 Establish fully-funded emergency fund Increase contributions to 403(b) retirement account Establish Roth IRAs for my wife and for me Establish Education Savings Accounts for our children…

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