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?

Here’s hoping you and yours have a very Merry Christmas!

The ads are so enticing, your friends are chatting it up, the kids are circling everything they want from all the circulars (and they want EVERYTHING).

Boy is it ever hard to show some restraint when the Holiday shopping season kicks off. All those killer deals can make you feel like you must have all this stuff.

Hopefully if you went out shopping today you had a plan, a neat little list, and your allotted spending amount firmly etched on your brain.
I had my budget for today (ZERO) so I stayed home!
Still formulating a plan, knowing full well there will be more deals to be had, and hopefully they will be for items already on my list!

In a previous post I discussed options for financial software to use when MSMoney goes away.

My final choice was to go with YNAB (You Need A Budget) so I bought the Pro version.  So far I am very pleased with the functionality.  They have tutorials on the site about their budget process and the 4 rules to follow.  I have transitioned nicely from my MsMoney and my Excel spreadsheets.

When I purchased YNAB I got the scoop that a new and improved version was in the works: YNAB 3.  After viewing the Sneak Peek on their blog and reading on the forums, it sounds like it will have some of the minor things I was wishing Pro had, like a column for check numbers and probably lots of more useful items I have yet to uncover.   The new YNAB3 version is due out by the end of the year, and much to the delight of Mac users, it will be compatible.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer: I have purchased this product for my own personal use and received no compensation from the company to  post my thoughts or review of this product.