One Million and Beyond

July Goals

By Matt - Thursday, July 5th, 2007

Every month I’ve tried to set up goals that I both agreed with and thought I could accomplish; last month I achieved my goals with flying colours and this month I wanted to continue the trend. I’ve given them some thought and taken a couple days to review the notes and goals that I came up with. The main reason that I wanted to take my time is that I wanted to mentally process and take from my experiences of the last month. Setting goals that are challenging and achievable while at the same time rewarding is something that I’ve been working on for the past half a year with some success and some failures.

While in Paris I did have some time to take stock of my life and the grander view of our society compared to that of another. The big item that I took from all of this was the fact that every now and then we need to take a step back and take stock of our lives and more importantly to this blog our financial situation and goals. It would be stupid to come up with goals without knowing where things stand. This month will be more of a taking stock and finding out exactly where I stand rather than trying to move forward.

So without further adieu here are the goals that I came up with for the month of July (don’t worry next month the goals will be of a considerably more financial nature).

• Figure out my exact net worth (and know what goes into it)
• Come up with a monthly cash flow statement
• Get and understand my credit score
• With my net worth and cash flow statements come up with a reasonable budget for next month
• Start working on generating some additional income (aka start an online company)
• Increase my net worth by $250 from the time my net worth statement is complete to the last day of the month
• Apply the 80/20 rule to my spending if at all possible, concentrate on the 20.

I think that all of these goals are achievable and I also think that they’ll give me a status report of sorts for where I stand financially. It should allow me to plan out my finances and to automate and consolidate as much of it as possible to make it easier for me to keep track of it.

Technorati Tags: monthly goals, net worth, cash flow, taking stock

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