Wahm Forum - Your "Work-at-Home Moms" Support Group

christina · Thu Dec 14, 2006 6:36 pm New Year Financial Goals?

Do you have any goals in regards to finances for the New Year? Can you believe we're almost in 2007?!?! 2006 has just flown by and I'm not quite ready for it to be over yet.

I know a large number of people, especially in the U.S., will be making resolutions to get healthier and lose weight. That's great, but I think a large part of our health is mental and spiritual as well. We need to look at every area of our life to determine what we need to be healthier in. Finances are a big area. Financial strain can cause tremendous emotional and mental stress.

I made some terrible financial decisions in my earlier years that I am still paying for. Therefore I have a wonderful goal for 2007. I am going to pay off all of my credit card debt. That is very exciting for me. At this point I'm not exactly sure how I'm going to do it, but I am determined to do it.

Decisions we make every day can impact our financial goals. We drive throughout the day and we see a Starbucks or McDonald's and we have a choice. We can drive on up to that little window and place an order or we can drive on home and consume food we've already purchased. That's a simple example, but if we make the right choice time after time, all of those $3-$7 purchases really add up.

I was so proud of myself this week. A few times I've been out I've thought about different things that I would like to eat or drink while I'm running my errands. I talked myself out of stopping anywhere because I had plenty of food to eat and hot cocoa to drink at home. I thought about my goal of debt elimination and determined that I was going to be successful and I was not going to give in to my desire to spend. It felt so good!

What are your financial goals for the coming year? Whatever you choose to do, determine that nothing will stop you. Think about how wonderful you will feel over each little victory until you have final success. Doesn't it make you smile? Let's make 2007 a financially healthy year. Here's to your success!

wahmannounce · Thu Dec 14, 2006 7:33 pm

Christina,

You bring out some good points regarding finances. After having a couple of surgeries, we're paying off some past debts too. Our goal is to be financially debt free. We're getting close.

It's terrible to leave home without "filling" your stomach first because the temptations are everywhere. I totally agree that this small spending really adds up. If you want a treat, tell yourself that you'll reward yourself as soon as you arrive home without the added food receipts. :)

Great topic!

christina · Thu Dec 14, 2006 7:45 pm

That is awesome that you are getting close, Rhonda. Way to go!

Tempations to spend truly are everywhere whether you're driving around or surfing the net.

One of the decisions that I've made is that the little extra purchases aren't worth it in the long run. In 2008 I want to travel to Italy. I have always wanted to do that and I'm finally going to start planning it. It will be like my fun reward after debt elimination. I even purchased one of those little daily calendars that have a fun fact or quote for each day. It's on my desk and ready for 2007. It's an Italy calendar. So each day I will learn about Italian history, food and even the language. I thought it would be a fun way to keep my ultimate goal in front of me.

First comes debt elimination and then comes Italy. :P

gazellems · Thu Dec 14, 2006 10:35 pm

Rhonda, I applaud you. I know I try to eat at home before going out and trust me, it works.

Christina, that's a great incentive to get out of debt. One of the side effects of Hurricane Katrina was my decision to close my one and only credit card once I paid it off and I've been without one since September 2005.

Now, I use my debit card for purchases which forces me to only spend money when I have it. My next goal is to be able to save money on a regular basis in 2007.

I'm wishing you ladies much success in accomplishing your goals. Take care and God bless.

Breezy · Fri Dec 15, 2006 12:30 am

Excellent goals!

Finances are always a toughy. Sounds like you really have a handle on things tho.

About the credit card. I have read where on good idea is to put it in a container of water and put it in the freezer.

That way when you want to use it you must thaw it out first. While thawing you have time to rethink just how badly you need it.
And of course the magnetic strip means no cheating using the microwave for fast thaw.
:)
B.

wahmannounce · Fri Dec 15, 2006 1:55 am

Breezy,

Ha! I've never heard that. That's sounds like a terrific idea! Sometimes we feel that big "urge" to spend before we take time to think...taking time to consider how much we really need it can surely be beneficial.

christina · Fri Dec 15, 2006 2:05 am

That is funny! I've never heard of that before.

I've been doing well for several years now in regards to spending only what I have. It was when I was in my twenties that I really racked up the debt. If only I knew then what I know now. :lol: