Comments on: My Financial Resolution for 2008 http://cashmoneylife.com/my-financial-resolution-for-2008/ Money Management, Small Business, Career Thu, 09 Feb 2012 19:08:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ryan http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-3227 Ryan Wed, 19 Dec 2007 19:13:49 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-3227 By this do you mean mock (ha-ha) or mock (emulate)? ;) I hope you take the time to read the <a href="http://cashmoneylife.com/2008-financial-resolutions/" rel="nofollow">Carnival of Financial Goals</a> - there are well over 50 other financial goals listed. :) By this do you mean mock (ha-ha) or mock (emulate)? ;)

I hope you take the time to read the Carnival of Financial Goals – there are well over 50 other financial goals listed. :)

]]> By: Roland http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-3225 Roland Wed, 19 Dec 2007 17:56:45 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-3225 I love your goal idea!!! I believe that your method of saving is reasonable and very motivating. I will mock your savings plan for 2008 to also get me in a habit for savings. Thanks for taking the time to share... I love your goal idea!!! I believe that your method of saving is reasonable and very motivating. I will mock your savings plan for 2008 to also get me in a habit for savings. Thanks for taking the time to share…

]]> By: Ryan http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-3181 Ryan Fri, 14 Dec 2007 19:42:08 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-3181 Hi Janet, you have a solid goal in mind and I hope you reach it! I'm also glad you enjoy this site. ;) Hi Janet, you have a solid goal in mind and I hope you reach it!

I’m also glad you enjoy this site. ;)

]]> By: Janet http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-3179 Janet Fri, 14 Dec 2007 17:21:53 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-3179 My 2008 goal is to finish my last 6 months of car payments! It has been 4.5 years of monthly ($300) payments. So, I am very excited to finish. In June, I'll allocate the money to an emergency fund. By the end of 2008, I'll have a nice cushion. This is a great site. My 2008 goal is to finish my last 6 months of car payments! It has been 4.5 years of monthly ($300) payments. So, I am very excited to finish. In June, I’ll allocate the money to an emergency fund. By the end of 2008, I’ll have a nice cushion.

This is a great site.

]]> By: Dividends4Life http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-3002 Dividends4Life Thu, 06 Dec 2007 04:16:01 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-3002 Great goals! We can always use another dividend investor. It's not splashy, just effective! Best Wishes, D4L Great goals! We can always use another dividend investor. It’s not splashy, just effective!

Best Wishes,
D4L

]]> By: Angela http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-2964 Angela Wed, 05 Dec 2007 03:40:03 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-2964 SMART Financial Goal: Save $17,000 in 2008, equivalent to 50% of my pre-tax income, while continuing to contribute 15% of my pre-tax income to my 403(b). As I did in 2007, I will also take a two week to 1 month vacation in Africa or South America either as a tourist or volunteer for no more than $2000. $750 of the $17000 will go to the graduate school application process. Over the past 12 months, I saved 13,285, about 39% of my $34,000 gross income. I would like to increase this proportion to 50%, or $17,000. My expenses will be lower in 2008 because I will not own a car so I will save $2120 in transportation costs. I would also earn about $809 more in 2008 in interest from a high-yield savings account. I'm going to sell a lot of my unused things--according to Amazon.com, some of my used textbooks are selling for about $275 total, so I'm hoping to reap at least $350 for clothes, books and never used academic software. I've gotten a job offer within my department with a promised raise which could increase my savings by at least another $2000. Finally, my participation in research studies is paying off, as I am becoming eligible for even higher paying studies, which should hopefully net me at least an additional $2000 in 2008. With these steps in mind, I think I can achieve my $17,000 goal without decreasing the quality of my pleasant but frugal lifestyle. SMART Financial Goal: Save $17,000 in 2008, equivalent to 50% of my pre-tax income, while continuing to contribute 15% of my pre-tax income to my 403(b). As I did in 2007, I will also take a two week to 1 month vacation in Africa or South America either as a tourist or volunteer for no more than $2000. $750 of the $17000 will go to the graduate school application process.

Over the past 12 months, I saved 13,285, about 39% of my $34,000 gross income. I would like to increase this proportion to 50%, or $17,000. My expenses will be lower in 2008 because I will not own a car so I will save $2120 in transportation costs. I would also earn about $809 more in 2008 in interest from a high-yield savings account. I’m going to sell a lot of my unused things–according to Amazon.com, some of my used textbooks are selling for about $275 total, so I’m hoping to reap at least $350 for clothes, books and never used academic software. I’ve gotten a job offer within my department with a promised raise which could increase my savings by at least another $2000. Finally, my participation in research studies is paying off, as I am becoming eligible for even higher paying studies, which should hopefully net me at least an additional $2000 in 2008.

With these steps in mind, I think I can achieve my $17,000 goal without decreasing the quality of my pleasant but frugal lifestyle.

]]> By: Mike H. http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-2960 Mike H. Wed, 05 Dec 2007 01:55:52 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-2960 I have a $3,000 student loan and plan to pay it off by the end of 2008. To do this my wife and I will pay $300 a month which, factoring in interest payments, will mean we make our last payment in November. We chose this goal because doing so, even though we don't own a home, will make us completely debt-free! I have a $3,000 student loan and plan to pay it off by the end of 2008. To do this my wife and I will pay $300 a month which, factoring in interest payments, will mean we make our last payment in November. We chose this goal because doing so, even though we don’t own a home, will make us completely debt-free!

]]> By: Laura http://cashmoneylife.com/my-financial-resolution-for-2008/#comment-2957 Laura Tue, 04 Dec 2007 22:54:56 +0000 http://cashmoneylife.com/2007/11/25/my-financial-resolution-for-2008/#comment-2957 SMART Financial Goal: Earn 5000 dollars by myself, not from my parents, and put in high yield savings account Specific: the number, 5000, is quite specific. Measureable: I plan to create a spreadsheet of earnings, with the date received, the amount earned, and the date deposited into the account. Actionable: The actions I’ll need will be to get a summer job and engage in other money-making endeavors, whether it be selling old books on ebay (something I’ve been meaning to do) or going on craigslist and looking for “gigs” for free weekends. Attainable: I work an on-campus job that pays 8 bucks an hour, and work that 10 hours a week for a 15 week semester, so that’s about 1200 right there for the spring and another 1200 for the fall (even if I don’t get a raise). I have direct deposit on that paycheck, so I’ll redirect it to the ING account. The rest, then, is completely doable with a summer job, craigslist gigs, ebay, and any other moneymaking schemes I fall into. Note on summer job: if I get New York State minimum wage, 7.15, for a part time 20 hour job, for 13 weeks, I’d earn 1859. And that’s only if I work part-time. If I worked 40, it’d be 3718. Timely: That is a very reasonable number for one year, especially considering the above math. SMART Financial Goal:
Earn 5000 dollars by myself, not from my parents, and put in high yield savings account

Specific: the number, 5000, is quite specific.

Measureable: I plan to create a spreadsheet of earnings, with the date received, the amount earned, and the date deposited into the account.

Actionable: The actions I’ll need will be to get a summer job and engage in other money-making endeavors, whether it be selling old books on ebay (something I’ve been meaning to do) or going on craigslist and looking for “gigs” for free weekends.

Attainable: I work an on-campus job that pays 8 bucks an hour, and work that 10 hours a week for a 15 week semester, so that’s about 1200 right there for the spring and another 1200 for the fall (even if I don’t get a raise). I have direct deposit on that paycheck, so I’ll redirect it to the ING account.
The rest, then, is completely doable with a summer job, craigslist gigs, ebay, and any other moneymaking schemes I fall into.
Note on summer job: if I get New York State minimum wage, 7.15, for a part time 20 hour job, for 13 weeks, I’d earn 1859. And that’s only if I work part-time. If I worked 40, it’d be 3718.

Timely: That is a very reasonable number for one year, especially considering the above math.

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