With the hullaballou surrounding our wedding, I let a few things slide by the wayside. One of these was setting and maintaining monthly financial goals. Personally, I find monthly written goals to be useful because they keep me on track towards the bigger picture and thought I would share them with the wider blog community.

My goals for September and October are:

By September 30th:

1) Pay all bills on time
2) Stick to movie budget of $90.00
3) Invest $50.00 from paycheck in stocks
4) Purchase a $50.00 savings bond from paycheck

By October 30th:

1) Pay all bills on time
2) Stick to movie budget of $90.00
3) Invest $50.00 from paycheck in stocks
4) Purchase a $50.00 savings bond from paycheck
5) Complete refinance of investment property
6) Complete refinance of primary residence

A few comments: More and more, Miel and I have been setting our goals jointly, but these ones are what I have set for myself. Paying bills on time is a response to having gotten my DC tax bill in late and having been dinged for the fees. Also, I’ve been chronically late returning my rental movies, so by sticking to the entertainment budget, hopefully I’ll be able to reduce my expenses a bit.

Thanks for stopping by and happy surfing!

Best,

James

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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