One Million and Beyond

August Goals

By Matt - Thursday, August 2nd, 2007

Since my goals for last month turned out quite well and I was happy with the results I think this month I need to make them a little more aggressive. But I have to make sure not to make them too aggressive or risk falling into the trap of guaranteed failure that I’ve hit in the past.

August Goals:

• Reduce my overall negative cashflow by 10%
• Increase my net worth by $250
• Do the research I need to conduct about alternate business idea #1
• Write a business plan for idea #2
• Continue to track all of my spending
• Adjust my budget for September with my spending tracking at the end of the month

All of the goals for this month are very achievable and as you can tell I really want to work on setting up the alternate streams of income. I have two ideas and I need to investigate them before I dive headlong into them. I’d like to achieve both with as little investment on my part as possible.

Is decreasing my negative cashflow by 10% too little or too much? To be perfectly honest with you that is something I’m not sure about. This month is my test to see how much I can cut without impacting my life drastically after which I’ll know what I need to do to bring the cashflow back in line. I know there are more drastic steps I can take to bring everything into line but I want to enjoy my life if I can. I’m not being swallowed by my debt at the moment though if I’m not careful I might be, to that end some drastic measures might be needed. The goal of 10% is a good starting point in my opinion and if it ends up being easy I’ll continue the trend as much as possible. If it turns out to be harder than it looks then I’ll adjust appropriately and look more aggressively for alternate income.

Technorati Tags: monthly goals, cashflow, alternate streams of income

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