Day 5:  Financial

We’re almost there!  Today I’d like for you to think about your financial goals for the future.  Are you working towards being debt free?  Are you trying to pay off your house, invest for retirement, or you children’s education?  Saving for a large purchase?  Whatever your goals are, write them down and be specific.  What is it going to take to reach this goal?  How soon can you get there?  What can you do to make it happen faster? 

If you aren’t already doing these things also consider starting one of these new habits this year:

1.  Write a new budget every month!  Writing a monthly budget allows you to change it for your specific needs of the month, it also makes you look at it at least once a month and keep it fresh in your mind.  If you are used to writing a budget in one sitting for the whole year, consider the monthly budget instead.

2.  Use a cash envelope system.  You will spend 20% less than when using a credit card or debit card.  And you’ll see in an instant when you are close to your budget limit–because your money will be gone!

3.  Promise yourself to never borrow another dime again!  Once you are out of debt, put that lifestyle behind you forever.  Paying interest on money to avoid waiting until you can afford it, is like burning money that you won’t earn until later.  I’ve done it, but never again.

February this blog is dedicated to helping you shrink your basic living expenses one day at a time.  This will free up extra cash to help you reach your financial goals this year. 

Enjoy your New Year’s Eve!  I’ll meet you here tomorrow to start working on our fitness goals for 2011 together.