New Year's Resolution: Is one of your personal goals involving financial management?

[MissJmarie22]

NetSkyBlue, it's great that you're a devoted tracker. Is there someway to help you keep track at everything? Do you use any software/programs?

[midlifefinance]

Yes, of course and I think everyone should involve financial management in their New Year's resolution. About my personal resolution, I'm aiming to be debt free this year and save $25 of my monthly earnings. Something that I'm planning to do for the last 3 years. Wish me luck this year!

[MissJmarie22]

Yes, of course and I think everyone should involve financial management in their New Year's resolution. About my personal resolution, I'm aiming to be debt free this year and save $25 of my monthly earnings. Something that I'm planning to do for the last 3 years. Wish me luck this year!

Hey!

About aiming to be debt free for this year, do you have the SMART way to do it? and not the vague plan to achieve it?

Like say,
Your debt is $500.
So you start saving up to pay for that debt. And to do so you have to be SMART. You could:
-Save an amount per monthly
-Reduce other unnecessary expenses to pay for the debt.
-etc.

So for saving an amount monthly, you're planning on achieving $250/month so just in 2 months you'll be free of your $500 dollar debt.

I hope I've explained it well. Anyway, the whole mechanism should be this way:
Every plan we have is usually a vague-easily-forgotten-plan, it is only an achievable plan if you make it SMART. Specific, Measurable, Attainable, Realistic, and Time-bounded.
So technically all you need to do is set a Goal/Aim, and then break down that Big goal into smaller plans. These plans then will make it a whole lot easier for you to achieve your goal because well it's pretty easy, it helps you keep track on your stage, and it keeps you motivated.

One way to plan SMART is by using programs such as microsoft excel or goal generators, or management softwares.

[bigdaddybus]

I just completed a year end financial review (when completing our taxes) and we saved 23% of our income in 2014. My goal is to increase that to 25% in 2015.