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New Years Resolution Cliches & Financial Goals

December 31st, 2006 at 05:57 pm

Just like a million other Americans this year, I'm resolving to lose weight & save money. In some cases, the two go hand in hand.

I restarted Weight Watchers, which I'm excited about. I have to track what I eat. Since healthier food can be more expensive, the fact that I have to plan food and watch portion sizes, will help counteract some of it. Plus, since eating out is harder to deal with while watching what I eat, I'll be forced to eat out on a much less frequent basis.

Here are my detailed 2007 Financial Goals:

1. Track all spending for the full year. (Previously, I've only tracked a few months at a time)
2. Limit soda intake & purchase. (this is a VERy bad habit of mine. I'm going to drastically decrease this from a couple of sodas a day to one 12 pack every 2 weeks.
3. Find a part-time job, put all extra money into savings. Also, continue looking for a roomate. (I'm hoping to find one through word of mouth since Craigslist didn't work out. I ended up with more scams than serious inquiries)
4. Increase 401k withholding
5. Put expected 2,500 inheritance into ING as a New to Me car fund. I hope to get another 3-4 years out of my current one, but its good to get started saving early.
6. Replentish my Car Repair Fund back to $500.00 (Need to save 164.10)
7. Save all change & deposit monthly to savings for Christmas. My goal is to have a cash only Christmas again this year (Already starting w/ $14.64)
8. Put insurance payout(from inheritance), estimated 400.00 into savings
9. Since my car insurance is broken into nine monhs of payments, put the extra months payments (March, April, May) into savings
10. Suspend blockbuster online every 2 to 3 months. This will give me a change to build up a queue of movies that I want to watch without wasting the subscription. On the off months, I can utilize my library for entertainment
11. Cancel XM Radio subscription when it comes due again in March
12. Review cable/phone/internet bill in September. My promotion rate runs out in October. My goal is to get rid of the phone (using only cell phone).
13. Switch previous job's 401k to an IRA
14. Review credit report quarterly for inaccurate information (using free credit reports)
15. Fully fund emergency fund with cash (have additional funds in savings bonds, ect, but I'd prefer cash) Goal is to increase cash by $3932
16. Find additional sources of income, such as babysitting, running errands, ect. Or find savings in normal expenses. My goal is to find at least 2 per month

2 Responses to “New Years Resolution Cliches & Financial Goals”

  1. PRICEPLUS Says:
    1167594105

    Unlike millions of other Americans you will be successful because you have set goals and you have a large support group! You can and will achieve your goals!Smile

  2. David James Says:
    1277982819

    Which debt solution is the best option for you? Compare debt solutions, debt companies and management fees with http://www.debthelpcompare.co.uk

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