Finance will be the first topic I will take on as part of my weekly goal setting challenge. As I head into 2016 my finance are not a totally mess, however they are not where I would like them to be. I still feel really disorganized when it comes to knowing where my money is going. I feel like I am caught unaware to often when a bill comes due or money needs to be outlaid for an expense. So since like balance and moderation and a work in progress I thought I would send this time trying to pin point what my financial goals are this year.
Save money for a new car: I know I would like to get an SUV since I will need a flat truck area to help me delivering cakes as I progress in my cake venture. I already have a saving account set up for this purpose. My plan is to save $200 a month to supplement what I have already saved for this goal. I am hoping to have 2016/17 to build up this savings and complete this goal by December 2017.
Financial goal #2
Create more income: I have set out on this path kind of unintentionally by becoming a Beachbody coach. I do believe in the benefits of their products and hope that this will bring me success in growing as a coach. I will continue to promote my new coach status on social media so you will be seeing this link from time to time. Since I am so new at this part and don’t really want to be salesy I will have to think on how I will approach this going forward.
I will also continue to educate myself in cake decorating, right now I consider myself in a training phase so I am only set up to do one to two small cakes a month for the next year, but my plan is to be able to handle a steady two orders a month by the end of 2016, and to charge full per slice fees by the end of 2017. To achieve this I plan on attending 2 conferences and taking at least five classes in 2016.
Financial goal #3
Reduce bills: Now that I have been using Mint.com for a few months, the program has given me some suggestions on how to reduce my expenses, by things like changing my car insurance. In order to achieve this goal I will schedule a time on a Friday, January 15 in order to get a quote from a new auto insurance company.
I have also been much more lax in tracking my grocery expenditures then I was originally planning. So going into 2016 I wish to limit my grocery budget to no more then $600 total per month and only eat no more than 2 weekends per month. My plan is to consistently track these two expenses by checking into Mint.com for 10 minutes every Friday afternoon in order to see if I am staying on budget. I’m only going to focus on these two categories in 2016 because this is where I find I most frequently overspend.
Bonus goal (if possible): Get new flooring! For the past several years we have had a hole in our floor that I cover with a rug. The whole was from a window leak that softened the flooring. The leak was fixed but to fix the hole requires an entire new floor for that room. I don’t foresee being able to afford getting the floor this year but I am adding this to the list as something I would like to achieve.
These are all personal goals I would like to achieve for myself and my family. As for the finance catagorie on this blog, I plan to continue with my Sunday Saving series in an effort to help me continue to learn about finance. I also plan to create an ebook from my on-line budget review series. Please leave me feedback and let me know what you finance goals are, and how you plan to achieve them. I would love to hear your plans.