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Financial goals

January 25, 2012

Even though I want this blog to help you save money, I want to go a step further than giving you great deals & steals. I am NOT a financial advisor or authorized in any way to provide financial guidance. I do, however, want to share my own personal experiences and findings in the hopes that they can help someone else!

Setting my financial goals was one of the hardest thing I learned, especially after getting married and combing finances with someone who had different spending habits than me! For those of you just starting out, or reevaluating their finacial status, setting your financial goals is not something to be taken lightly. Though I know couples who are perfectly happy keeping their finances separate, it’s one of the toughest challenges to every relationship. Money is one of the biggest motivation of discontent in a relationship, so financial goals should be set and followed. When setting your financial goals, you’ll have to evaluate what’s most important – and some underlying personality traits are sure to come out in revealing ways. If you are a risk-taker, you’re probably going to spend more freely. If you worry about future financial security, you’ll probably analyze where every penny goes. The key to a healthy financial portfolio is balance –  don’t save for tomorrow to sacrifice today – but don’t live today as if there is no tomorrow.

Here is a great article about setting financial goals: http://www.organizingyourway.net/resolutions/31-days-of-organizing-for-a-better-2010-meet-a-financial-goal

Try keeping a log or spreadsheet of all of your expenses and spending over a month or two, or use a free budgeting site like http://www.mint.com that analyzes your spending habits by category. You may be surprised by what you see! Once you determine what you can or can’t live without (and distinguish between needs and wants!), you can better choices on whether certain expenses are worth paying for!

What have been your challenges to creating or maintaining a healthy financial situation? Do you have any tricks or tips to balancing your own personal budget?

From → money management

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