WHAT ARE YOUR GOALS FOR 2009?

What are your goals for 2009? Come and join us for our first meeting this month and lets brainstorm together (see details below).

 

2009 is going to be an interesting year with the difficult economy, a new president, businesses having to re-think how they do business, our  personal finances and investment strategies, just to name a few. Honestly, I think it is going to be a great year because it will force us to get back to basics. For so many years people were focused on the ”stuff” and we kept trying to keep up with the Jones as far as vacations, cars, TVs’, etc went. I had to laugh every time I saw the commercial where the guy was playing golf and he talked about his great house, the expensive car, the family vacations and at the end he stated, ” I am in debt up to my eyeballs will somebody help me!” To bad it was a commercial for Equity Lines of Credit because we all know what path that led many down. We need to take this time to re-evaluate our lives and our finances to determine what really is important. I know this is a difficult time and you may just be in survival mode but if you take tiny steps it is amazing what can be accomplished. I may have stated all this information before but I am amazed at how many people do not have a complete understanding of their finances. I am not just talking about paying the bills but a true understanding of their expenses and how their relationship with money affects the bottomline. 

 

This is the year to get back on track, no matter what your financial situation is, and these are 5 steps to get you started:

1) Write down “all your expenses”and break them into two categories; expenses that you can not avoid (mortgage, car insurance, utilities, etc) and expenses that you choose to have (dining out, gym memberships, shoe collection, etc.), your non-essential expenses.

2) Of the non-essential expenses determine which ones you can remove from your list and promise yourself to put that money into a savings account.

3) Set-up your “Wealth Account”. This account is your safety net. You should have 6 to 8 months of your non-avoidable expenses in this account. Write the amount on a piece of paper and place it where you can see it on a daily basis. It is so important to have this amount saved that you need to remind yourself every day.

4) Each month, as you start to fund the wealth account, determine what other non-essential expenses you can cross of the list to help you meet your savings number. I am not stating that you have to suffer. For instance I used to get a specialty coffee at least 20  times a month. Now, I treat myself twice a month. To be honest I really don’t notice the difference I was just buying it out of habit.

5) Know your numbers. This may seem overwhelming at first but don’t give up! Know how much goes into your 401K and into which types of funds, know how much your deductibles are on your car insurance and home insurance. Have a true understanding of how your money is spent so that you can take control.

 

I hope this information will help you kick start your new year. Many things are out of our control but this does not have to be one of them. I will continue to provide steps to help us all take control and please submit your questions, suggestions, and stories. I love to hear from you! 

 

I look forward to seeing you in a few weeks at our Jan. 27th Chapter Meeting.

The meeting will be held at An Afternoon to Remember in Newcastle, 5:30 PM to 8:00 PM, $25/pp, includes a light tea.  To register and a map to the tea shop go to the website www.womenonthemovenow.com or call 530-888-1136.

Lisa Marston, Founder Women On The Move

www.womenonthemovenow.com