Frugal GAB

Now that we have rung in the new year (and a new decade) it is time to set some  Financial Goals  for this year. I kind of hate the word resolutions, so goals it is!  I think it is important to write down what you want to accomplish so you can get focused and have a written reminder throughout the year.

You can break you goals down however you like, but I believe having several be more specific and measurable  is truly important.  For instance, instead of simply saying “Make more money” break it into smaller goals, like “ask for a raise of $xx amount”, or “increase sales to $xx per month”, or even “start new xx business”

Here is my rough draft of goals for the year. I will be breaking each into even smaller parts as I tackle them individually.

Reduce Debt:

1. Pay off remaining hospital bills
2. Pay off AmEx
3. Pay at least 1/4 of BOA

Increase Income with goal of extra $300/month:

1. Reopen eBay store
2. Expand Amazon offerings
3. Research other options like  jewelry biz

Savings/Buffer/Emergency Fund

1. Goal of having a buffer to live off last months income
2. Increase emergency fund to $1000
3. Funnel extra into savings

Have you set some financial goals for this year?  Are they vague, or have you drilled down to more specific and measurable goals?