I have often said that Money Management is much like eating well. It's all about the math. Calories in & calories out. Money in & money out. Then I got to thinking that like dieting, it works way better if we have a goal.

Do you have a financial goal? (Don't feel you have to share it here.)

We're all here trying to save money for different reasons. Some want to get out of debt. Some want to save more. And some just want to learn to live well on less.

If you've never written out a financial goal, it might be something you want to consider. One of the tricks to writing an effective goal is to write it in positive language without negatives. Example. Instead of staying. I want to stop spending so much, you can say, I desire to spend wisely and save for ....

Another way of writing a financial goal is to write it as if you could see yourself in the future. Example. I see myself on a small farm. I am growing my own vegetables and there are solar panels and a windmill to create sustainable energy, I have save enough for the kids to go to good colleges, and my retirement funds are secure.....

Have you written your financial goal? (Don't feel you need to share it here but if you feel comfortable, it might inspire others with theirs.)

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Yes, we have a financial goal. We are working our tails off to become debt free. We complete financial forms every week, and monitor how we are progressing toward that goal. Each debt becomes a mini goal. We will celebrate each time we pay off one of our debts. We have a paper on the fridge that says, "Debt Free: May 2010". We know that we will be crossing that date off as the date changes. We know what we are going to do when the goal is met, which I think is very important. We are taking a second honeymoon to DisneyWorld. We went there for our first honeymoon - the next trip will be the honeymoon for our debt-free marriage!

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If you need to get in touch with me, my email is teach1107910@yahoo.com.

We have several.

You have to first define your goals then focus on them to make them happen.

I think it is important to have different types of financial goals: short-term, mid-term, and long-term. A short term goal may be to save enought to take a family vacation this summer and not have to pay for it on credit. Mid-term may be to move to a different home. Long-range goals could be funding your kids' education or how you want your retirement to look like.

Goals can also motivate you to stop spending on things you don't really need. When you're focused on the big picture and the goals you have, the little things that normally make you waste your money seem less important.

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we have our set of goals also.......short term is paying off a furniture bill from when we bought our new dining room table set and 2 bar stools.......mid term is getting a little bit put back for for downpayment on a new used car....and long term is getting some money into our money market accounts build up.

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I agree that you have goals....... short, medium, and long term.
For us,
Short term: Save,Save,Save as much as we can so that we can take our last vacation before children.
Medium term: Save for a new house
Long term: is to far away to have a goal

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MOMMY 4 MCCAIN

We have our goals, too. Before we actually sat down and talked about our goals, we were floundering.

Short term: Get dh's car paid off by June
Mid-Term: Get a good down-payment for a house saved up by June '09
Long-Term: Retirement and kid's education

We are working on all of them right now.

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~Vicki~
Mama to Hailey, 4 and Ella, 2