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Interesting article on financial goals

April 21st, 2014 at 02:49 pm

Recently when figuring out which stock I should invest in next in my IRA I stumbled across this article: http://www.fool.com/investing/general/2014/04/17/goals.aspx

I'm glad it did because it made me feel better and calm down a bit.

In the past few weeks I've gone $931 in the negative. But its not a biggie. Both were interest free, one on a 0% credit card and the other out of savings. I am now only $799 in that hole as of the last paycheck. While it was a bummer it was a wake up call as well.

I'd be so headstrong and exclusively focused on my goal of paying off my car that I forgot that life is still going to happen in the meantime.

My husband and I will want to go out for a dinner at some point or a vacation. There will be a birthday for someone whom I usually buy a gift. And then every once in a while we will want to go out and have fun.

I had neglected that part of my budget heavily as the time neared for my assignment to be over. I just wanted to throw every last time toward car repayment so I can have it paid off ASAP.

Well I have done a fantastic job at that for sure and if I could somehow manage some full paychecks and I can put another chunk of money toward that. But I still have to make up more of this 799 dollar deficit. I still need to budget for future things I know are going to happen so they don't end up on a credit card racking up interest or taking away from being able to pay off my loans.

And beside all that my original goal was to make sure I'd be able to pay off the car by the end of 2014 which was achieved. Then I got all ambitious, and it went from that to trying to make sure the car was paid off before December so it wouldn't take away from Christmas (which I am already saving for.) Then it turned into maybe I can pay off the car in time for me to pay for the registration, which morphed into I have to pay off the car before my assignment ends. Which ultimately lead to me being stressed out beyond belief for about the last month and a half.

I read the article realized how overzealous I had become and took a step back making payment plans and goals realizing that while they would be more difficult to reach while underemployed it wouldn't be impossible.

I also started researching ways to get some more side income to insure I can stay on track. All in all I have learned to just sit back and stick to the established plan. While its fine to reevaluate or pay some extra. It is not an all consuming omnipresent thing anymore.

The car will be paid off before the end of 2014. Anything extra is a bonus. Christmas will happen, we will be able to take our trip. Everything will be okay. I just need to stick to the plan and everything will be fine! Smile

1 Responses to “Interesting article on financial goals”

  1. MonkeyMama Says:

    Great article!

    Being a very goal oriented person, I find it important not to make goals unecessarily difficult. & I don't like the idea of unecessary time restrictions. Some goals need strict time requirements. But a lot of them do not. I know I Will make my goals either way, so most my goals don't have time restrictions on them. Which allows for some flexibility and to be able to take advantage of opportunities. We are for sure very goal oriented and major planners. But, a lot of our biggest life and financial choices were made very quickly, maybe even rashly. It was because an opportunity arose that fit in the framework of our larger goals or the bigger plan. I guess I find goals by themselves to be a little too rigid for the realities of life.

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