Frugal Living/ Budgeting

2015 Financial Planning- Go Ahead and Start Now!

So we are upon the end of the year and with that brings new “resolutions”, or as I call mine “Yearly Goals”. For some reason, calling them goals works better for me than resolutions, but whatever you call them, make sure you add some new financial goals to your list.

I start now by evaluating how many of my last years’ financial goals I have met, if I have goals that were not met, I evaluate why and how I can meet them this upcoming year.

When setting your new goals- be realistic. There is nothing worse than having a big list of things that never get accomplished. Set goals that you know you are going to work on.


So here are my goals for 2015:

1. Pay off 3 credit accounts (leftover from last years’ goals- ugh!)

2. Keep at least a $400 balance in our business account

3. Set up a weekly household/grocery budget

4. Switch back to the “cash envelope” system for all household/grocery needs

5. Refinance our house for a lower interest rate

So to get to a goal you must have a plan, so get busy setting up a plan for how to meet your goals.

I like to have a month-by-month plan at least for the first 2-3 months, then add new months as you go. I like to know what the priorities are and what needs to be done first. For instance, my first priority is actually #3 and 4, they will go hand in hand. If you’ve never read about the cash envelope system, it is very simple. Instead of using debit/credit cards take out cash for all weekly grocery/household needs. I do not separate the money- just place in an envelope and then stick to your budget and use your cash! When the cash is gone, you are out of money! Some people separate their money into categories such as food/ household/ gas/ etc. You can get as meticulous as you’d like, I just like to keep it simple.

So once you have your list of goals, what order to work on them in, and your month-by-month plan: you’re all set!!

Now be prepared for unexpected setbacks, because this is the real world, and plans don’t usually go as smoothly as you’d like. That is why we have credit cards to pay off from last year, unexpected setbacks! But it’s all good! We are still headed in the right direction, so the goal planner works!

Have a Blessed rest of the week!! Grab your notebook paper and plan away!!


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