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My 2010 Financial Goals

fleurs // livelovesimple.com

I took off from work last week, the week between Christmas and New Year. It was quite possibly the smartest thing I have ever done. It was an absolutely necessary break from the confines of my “routine” and job. I feel more as though I took a month off than just a week. I have done so much, seen so much, loved so much, and learned so much.

I spent genuine, quality time with friends, family, and my boyfriend. I spent my time between New York City and my hometown in Northern New Jersey.

I am at a place of extreme clarity. My mind is clear & fluid. My goals are crisp, clean, ready to be accomplished. I am focused, determined, & ready.

I am going to work very hard this year to bring myself closer to financial freedom. I am going to continue building my blog (and my businesses) at a faster rate than ever. I will continue to work 40-50 hours per week at my job, but I will also hustle and devote between 3 – 5 hours+ per week strictly producing content.

As of today I have two remaining debts:

$24,892.40 – Student Loans
$1,085.22 – Credit Card

(My car loan doesn’t count because I will be able to sell it [and ultimately make a profit] when the time* comes.)

Here is the plan:

By December 12, 2010* I will have cut my debt almost in half. My student loan debt will be cut down to just under $14,000 and my remaining credit cards will be cut up.

I will finally be in a position where I do not feel completely overwhelmed by my debts. I can not wait for that day!

How am I going to get there?

It isn’t going to be easy! But I can and I will do it. I plan to:

a. Put $1,000 a month into savings (ING Direct, earning 1.3% APY) = $11,143 (after 11 months, Jan thru Dec).
b. I already have $1,000 cash in a CD earning 2.0 % APY which will be available to me on December 12, 2010 = $1,020.
c. That will bring my total debt down to $13,814.62!

There are some doubts and questions that plague my mind. For example, “How am I going to put $1,000 per month into savings when I currently only put in $300 per month?” “What if an emergency strikes?” “What if I falter?” etc. etc. I find it pretty pointless to focus on these questions. There are a million what-ifs that we can ask ourselves everyday — “What if I walk out into the street tomorrow and get hit by a bus?”

The most important thing to me is this: I am working toward living the life of my dreams. I am empowering myself to live the life of my dreams. Through my blog and my businesses I am empowering other people to live the lives of their dreams. Those things alone make all of the effort 100% worth it.

In addition to all of the things mentioned above, I have also started to sell my jewelry (vintage & handmade) on Etsy. I am planning to start selling my other belongings on Craigslist & possibly Ebay in the near future. I hope that the extra money will help me reach my goals faster.

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I am so excited to be sharing my goals with you all. I hope that my goals can help you to set out to create your own. Yes, my plan is ambitious but if you shoot for the moon, even if you miss you’ll be among the stars.

If you would like to help me along my journey feel free to use the donation button on the right side of the page!

So, what are your financial goals for 2010? Is there anything that I can do to help you reach them? Let me know in the comments!

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    Review: Tribes by Seth Godin

    On a recent flight, I began reading Seth Godin’s Tribes. On the return flight, I finished it. It was my introduction to Seth Godin—no idea why I hadn’t found him sooner!—and what an introduction it was. The book blew me away. It is the best book on leadership and change management that I’ve ever read. While the content is sure to inspire change of the greatest sort within any organization—from business to church, non-profit to learning institution—it is also of incredible value to individuals.

    In this post I want to share some of my favourite pieces from Tribes as well as some of my own insights.

    Whether you want to create positive change in the world, in the workplace, or simply in your own, I recommend that you read the book for yourself. It is a relatively easy read, spliced up into short, digestible chapters. I got through it in a few hours. But it is absolutely packed with revolutionary ideas, suggestions, and real-life examples of people making a difference and leading tribes in today’s world.

    Many people are starting to realize that they work a lot and that working on stuff they believe in (and making things happen) is much more satisfying then just getting a paycheck and waiting to get fired (or die).

    I’ve begun to think of my generation as the Fight Club generation. Tyler Durden said it best, “We’ve all been raised on television to believe that one day we’d all be millionaires, and movie gods, and rock stars. But we won’t. And we’re slowly learning that fact. And we’re very, very pissed off.” I think Tyler and Seth’s sentiments are one and the same. Our parents (or maybe you) were raised to believe that you needed to grow up, go to school, get a job, and stay there. Work hard, save money, vacation once a year, and retire as soon as possible.

    Well, the Fight Club generation doesn’t want to hear that nonsense. We want gratification now. We don’t want to spend 40 hours a week miserable just so that we can collect a paycheck twice a month. We don’t want to spend half a lifetime at a job that we hate just so we can get fired or die one day! We believe that we can be happy now. We can pursue our passions, make a difference in the world, live out our dreams, and be successful all at once. And… we are right. We can do it. There are people doing it every single day. I love Tribes because it tells the stories of those people and more importantly, how they got there and how we can do it, too.

    Somewhere along the way, perhaps when twenty thousand Ford workers lost their jobs in one day, or when it became clear that soft drink companies were losing all their growth to upstarts, the factory advantage began to fade.

    The reason why the “school-job-suffer-retire” model worked for so long was because it was safe, it was comfortable. Human beings like to feel safe. It feels good to know that you will get a check once every couple weeks. It feels safe to know that you can walk into the office every morning and the lights will turn on and the computer will turn on. The peace of mind in trading your hours for dollars seems worth it when you have to put food on a table and a roof over someone’s head. But, guess what, that model isn’t really proving to be so safe after all.

    The recent tanking of the economy has really shaken things up. People are losing their jobs at rapid rates, unemployment is way up. Ethics have been violated, corruption runs rampant, and people don’t feel safe anymore. We want to take matters into our own hands. We want to create the lives of our dreams and be completely independent. We are doing it every day.

    In unstable times, growth comes from leaders who create change and engage their organizations, instead of from mangers who push their employees to do more for less.

    Now, more than ever, each of us has an opportunity obligation to become a leader, to create change, and to make a positive difference. The ever-evolving world of social media and the Web—Facebook, Twitter, LinkedIn, Wikipedia, Google—give us instant access to an unthinkable quantity of information and resources. When we learn how to leverage those resources we can become unstoppable. When we teach others to leverage those resources our tribes can become unstoppable. It is a great time to be a leader, and it is also the right time.

    Leadership is scarce because few people are willing to go through the discomfort required to lead. This scarcity makes leadership valuable. It’s uncomfortable to propose an idea that might fail. If you’re not uncomfortable in your work as a leader, it’s almost certain you’re not reaching your potential as a leader.

    Change = pain. If there is anything that I have learned over the past three years, it is this. Human beings are creatures of habit. When asked why things are done a certain way, most people will always respond the same way: “Because that’s the way we’ve always done it.” It is safe, it is comfortable. Our profits may be plummeting, our staff may be miserable, our customers may be disgusted—but this is the way we’ve always done it! Don’t try to mess with our traditions! Right? Wrong!

    Success takes dedication, hard work, persistence, and change. Dedication, hard work, and persistence can be painful. Some people are cut out for it and some people aren’t. The people that are, are the leaders. Being a leader is not comfortable and it’s not supposed to be. Being a leader takes character.

    Believe it or not, anyone can do it. “No one is born charismatic. It’s a choice, not a gift” (Tribes).

    Change almost never fails because it’s too early. It almost always fails because it’s too late.

    The time for change is now, my friends. If not now, when? There has never been a time where the need for positive change was more urgent. If you do not realize that this moment is all you have, then you do not have anything. This is it. After this moment, nothing is promised—not tomorrow, not next week, not your 81st birthday. You have this moment and you alone get to decide what you do with it. Yes, you can surf Facebook for a few more hours and stalk out your ex-boyfriend’s life for awhile more. You can also sit on the couch with a six-pack and watch The Jersey Shore marathon on MTV. …But if you asked me, I’d tell you that you’ve got more important things to do. Whether you’ve been waiting to pitch a great idea to your boss, waiting to take a proactive approach to your health, or waiting to embark on that 6 month “vagablogging” journey; stop waiting!

    There is really nothing in your way. There are no problems and no obstacles. Any anxiety that you might have stems from your past or your future; but your past and your future are not real! The only thing that is real is this moment, right now. The past and the future are in your head. No matter what you think is standing in your way, you can find a way around it. If you can’t get on the next flight to Melbourne (to start your career as a kangaroo-catcher) then sit down and figure out how you are going to make it happen. Right now.

    I’m frequently asked about getting credit. People want to know how to be sure they get credit for an idea, especially when they have a boss who wants to steal it. Or they want to know how to be sure to give me credit for an idea in a book or a blog post of their own.

    Real leaders don’t care.

    If it’s about your mission, about spreading faith, about seeing something happen, not only do you not care about credit, you actually want other people to take credit.

    There’s no record of Martin Luther King, Jr., or Gandhi whining about credit. Credit isn’t the point. Change is.

    Stop worrying about the obstacles and start taking action. Stop worrying about who is going to get credit and start making a difference.

    ————————————————————————

    What I loved most about Tribes is that it left me feeling like anything and everything is possible. The book is full of stories about ordinary people who did (and do) extraordinary things every single day. These people don’t let fear stop them. They become leaders and they create & inspire change. Every person is capable of this. You are capable of this! What do you want to do? Are you ready to become a leader? I say yes. Yes you are!

6 Comments

  1. Good Luck!!!

    Glad you are so focused on the goals you have established.

    Keep it up and don't ditch your time on your blog.

    David Damron
    LifeExcursion

  2. @David – Thank you so much, Dave. I am excited & I appreciate your encouragement, definitely no ditching the blog! 😉

  3. Dena,
    Good luck on your goals. I have to say that paying off college debt is a major undertaking and I'm on the same boat. We can do it!

  4. @Ken – Thanks so much! It is indeed a huge undertaking, but we will get there – one step at a time. 🙂

    @Laura – Thanks so much, glad you enjoyed. Stick around! I'm going to check out your blog now.

  5. Pingback: 5 Tips for Focusing & My Mini Meltdown : evolution you

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