Goals: Round 1

Now that I have my budget, I know what I owe and how changes in payments will affect this, it's time to dig in and set some goals. Of course my big picture goal is to pay off my student loans, but I need some stepping stone goals set to achieve that monstrosity of a goal.

To help me I did a quick Google search and came up with a site called MindTools. This site is geared towards helping out your career, but there is a nice section that helps with goal setting. I like some of their suggestions, like setting small, precise goals that have time limits. They also have a mnemonic for goal setting:

• S - Specific or Significant
• M - Measurable or Meaningful
• A - Attainable or Action-Oriented
• R - Relevant or Rewarding
• T - Time-bound or Trackable

Makes sense. I'm not going to complete my goals if I can't articulate them and create them with a purpose. The site also states to set performance goals, not outcome goals, this way you have control over them.

I've already stated two goals in my previous posts, so here goes setting pen to paper... or fingers to keys:

1. Check Mint as often as I check Facebook for one month (to be continued if it's useful)
2. Check Tuition.io once a month until loans are paid off
3. Comb through my expenditures this week and determine where I should cut back my spending (above what Mint tells me)
4. At the end of each pay period check my bank account and transfer any excess money to pay off my loans
5. Once goal 3 is completed set goals on what I will do to cut back spending
6. Over the next month research ways to increase income
7. Keep blogging at least once a week about my progress (this will keep me honest)