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

[MissJmarie22]

Happy New Year everyone! I just want to say, I hope we all have our new year's resolutions with us to keep us on track as to how we want our new year to go. I sure have my list with me. Now my question is, is your list SMART too?

I just want to share to you guys how much I realize that my last year's resolutions didn't go as planned. I told myself last year that I will save more, but after the end of the year I had little to no savings in my bank. And now I kept asking myself, “What went wrong?” Eventually I found out the answer, I wasn't being smart enough.

I realized I needed helped. So I looked up on the internet and found simple and complex ways to solve my problem. I was honestly tired reading the complex solutions so I reread the simple solutions and I bumped into "Personal Financial Management". I was like “Okay, the words itself is self explanatory. But how?”

I do hope you guys plan ahead, make better New Year’s resolution, plan S.M.A.R.T.
Be:
Specific
Measurable
Attainable
Realistic
Time-bounded

S.M.A.R.T.! 'Til next time you guys! Keep safe!

[lowriskinc]

I plan to completely eliminate my credit card debt in 2015.

[LittleMissSplendid]

Yep this year I'd say 90% of my goals are related to financial management. I like that SMART acronymn, seems applicable to many things.

[MissJmarie22]

Yep this year I'd say 90% of my goals are related to financial management. I like that SMART acronymn, seems applicable to many things.

It sure does, it has also made me realize I had to make my plans and goals clear. I can't be vague anymore. It truly helps to be systematic. Because even though it's kinda time consuming to, it really is worth a lot. By the end of the year, we could see the difference we did.
About 80% of my goals are related to financial management too, I hope by the end of the year, we two made a whole lot of money.

[MKKShah]

Thanks for this post! I am going to get back on track with my personal finance. I used to budget and track expenses well up until a couple of years back, and then life happened and I started falling behind. But I plan to start again this year. Happy Savings year 2015!

[MissJmarie22]

Thanks for this post! I am going to get back on track with my personal finance. I used to budget and track expenses well up until a couple of years back, and then life happened and I started falling behind. But I plan to start again this year. Happy Savings year 2015!

At least you once started already. You did fall behind but you're getting up on both feet again. That's another resolution if you ask me. Wow, hitting two birds in one stone. Wtg!

[MissJmarie22]

Hi Guys,

Do you have any tips which you can share so I can better manage my spending's, my time , and to become more efficient as I'm always on the go.

Thanks in advance!

Have you ever tried writing down your goals/plans before? I think you have, as a lot of us have done before. Why not use technology instead of writing them down the old fashion way? If you want my advice, I'd just want to share that there's a software you can use where you can manage everything the easy way. You can also keep track on your savings, expenses, goals, etc. I'm not sure I'm allowed to talk about it here though. Anyway, I'm just saying there is hope for us frustrated-savers. lmao!

[hestylim]

Hello,
Nice tips! My goals are mostly financial too.. It is, of course, better if we have specific programs or software that we can use to track and manage our financial and financial goals..

This far I only use microsoft excel..

Great sharing guys!

[MissJmarie22]

Hello,
Nice tips! My goals are mostly financial too.. It is, of course, better if we have specific programs or software that we can use to track and manage our financial and financial goals..

This far I only use microsoft excel..

Great sharing guys!

That's a great idea Hestylim! I do know a good software that'll help you set goals, and keep you on track. I wonder if you're interested to learn more.

[MissJmarie22]

I plan to completely eliminate my credit card debt in 2015.

Hi lowriskinc. Yes, we do have plans to totally eliminate everything we owe. But do you do something about it? Like do you keep track on the progress of your goal? It's very helpful that you do, because it's a quicker way to finally reach your plans and rid your credit card debt.

[Peaples]

I think everyone one's goal should be something with financial responsibility no matter how rich someone is.

[LuckyRobin]

Yes, and my goals are pretty specific. Get the EF to $15K and pay off the van loan.

[MissJmarie22]

I think everyone one's goal should be something with financial responsibility no matter how rich someone is.

That's why rich people stay rich because they're SMART. XD

Anyway, yeah usually one way to get to your other goals is by being SMART at managing one's finances. This is a fact. Are your plans SMART Peaples? or are they vague? like say example:

> I want to have enough money saved by March. (Vague but time bounded)
> By March, I will have 20% of my money on my savings, 10% must be on my insurance, 10% on taxes and other obliged payments, 30% on home and necessities, 20% on credits/mortgage, 10% on myself. (S.M.A.R.T. PLANNING)

[MissJmarie22]

Yes, and my goals are pretty specific. Get the EF to $15K and pay off the van loan.

Hey LuckyRobin, that's good that your plans are specific but the best successful way is to make your plans not just specific but Measurable, Attainable, Realistic, and Time-bounded. But cross off the realistic as your current plan is already one.

Anyway, I truly believe and so do many people, about planning SMART. I can attest to its super beneficial effects on my financial management. As I've mentioned above this comment. Everybody plans, Most people plan vaguely, Some (The Successful Ones) plan SMART.

This keeps you very motivated, keeps you on track towards your goals, and it is very likely that you will certainly reach your goals. You can plan SMART with the use of spreadsheets, and goal generator software.

[NetSkyBlue]

My resolutions are:

- Spend less than 20k (i.e. stick to my budget)
- Have a 10k emergency fund in place by the end of September (I'm on course for June, as of now!)
- Track every ITEM purchased. Not just 2/7/14 $33.04 - Grocery store, but break it down. $0.79 - 1 lb carrots, $3.04 - 4 zucchini, etc.

SO FAR I'm doing well. Spent less last month than any month since I've been tracking (a few years).