Frugal Patti

While the memories of Christmas or Hanukah bills are still fresh in our minds (and sometimes painful), what better time to prepare for our next holiday season? Borrowing a concept from days gone by, why not start a Christmas fund now? By putting a little into savings each month or paycheck, you can have a nice fund to start your holiday season by the end of the year. First, how much did you spend last holiday season? This data will help you decide what your goals are. Next, decide how much you can afford to put into your holiday fund. You may not be able to completely fund your holiday spending for next season, but any amount will surely help. Just think, if you can put away only $25 per month for 11 months, you will have saved $275 + some interest. If you can save $50, you will have $550 + interest. Any funds will definitely help and make the next holiday season less stressful. After you make these decisions, you will want to open a high interest savings account (or at least the highest you can find) to start your fund.

Tomorrow: Choosing a high interest savings account…

As you compile the goal lists of the past few days, look over them one more time. Do they all meet the SMART criteria? Make any changes need to make sure all the goals are SMART (Specific, Measurable, Attainable, Realistic, and Timely). Are there any other goals you want to add to your list for the year? Something that is special to you? First, we need to make sure you have goals in all the categories that are important to you, but not too many goals that would make your list not attainable for the year. Consider your list and make sure you are being realistic. Next, look at each goal. Can you break it up into smaller pieces? If you want to walk 600 miles in the year (one of my goals), write down 50 miles per month in parenthesis. This way you will be able to easily see if you are on track during the year. Each month, take out your goals and make sure you are on track for each one. By reviewing your goals each month, you will be able to adjust your energies accordingly.

Best wishes to everyone attaining all they want for the new year!

I would like to wish everyone reading this a very happy, healthy and prosperous New Year!

Many of us are so busy doing things for others that we forget about ourselves. This category of goals will deal with that issue. Think of the things that you want to accomplish around your house, in your personal live, and with your hobbies. Remember to have each of your goals meet the SMART criteria we discussed on 12/28/08. I will present some major categories and examples of goals that some may want to have under each category. Everyone’s personal goals will be so different, but this will give you some ideas to start with.

Around the house:

• Plant a vegetable garden by x date
• Build a deck by x date
• Paint the kitchen (or another room) by x date

Personal life:

• Go to the gym (or another form of exercise) 3x per week
• Go out with friends each week (or month)
• Make a family sit down dinner each week
• Read 1 book a month
• Lose 25 pounds by EOY
• Eat 5 servings of fruits and vegetables per day
• Quit smoking

Hobbies / Entertainment:

• Go fishing 10 times by EOY
• Make a quilt by EOY
• Take a stained glass class by EOY
• Run a Marathon (1/2 marathon, 10K, or 5K) by EOY
• Take a cruise by EOY

Tomorrow: Putting It All Together…

Today we’ll identify and document your work and career goals for 2009. These will vary greatly between people and careers. As yourself questions like: :”Do I like and want to stay in my current job?”, “Do I want to work toward a promotion?”, Do I want another job in my current career path?”, and/or “Do I want a new job all together?” The goals you set will depend on how you answered these questions. Remember to have each of your goals meet the SMART criteria we discussed on 12/28/08. I will present some examples of goals that may assist you further your career.

Complete x online courses covering x subject by EOY

• Complete x course(s) toward x certification by EOY
• Complete x course(s) toward x degree by EOY
• Read x book(s) on x subject by EOY
• Attain part time job doing x to get experience in x

Tomorrow: Setting Personal/Household Goals…

Your financial goals will depend on what your financial situation is currently, and what your future goals are. Remember to have each of your goals meet the SMART criteria we discussed on 12/28/08. I will present some major categories and examples of goals that some may want to have under each category.

Reduce Debt (every bit helps):

• Pay $x extra on mortgage each month
• Pay $x extra on car loan each month
• Pay $x extra on credit card x each month

Increase Income (assists with either debt reduction or savings):

• Make $x extra per month by working overtime
• Make $x extra per month by getting part-time job x

Short Term Savings (savings that you will spend in under/about a year):

• Save $x per month to start a Christmas/holiday fund for 2009
• Save $x per month for a new sofa
• Save $x per month for 2009 vacation

Long Term Savings (savings for the long term):

• Increase 401K contributions by x% (or $x) per month (or pay period)
• Increase retirement savings in x account by $x per month
• Increase college fund savings in x account by $x per month

Tomorrow: Setting Work/Career Goals…

Today we will review criteria for writing our yearly goals (or New Year’s Resolutions) so that they can be easily tracked and achieved. SMART (Specific, Measurable, Attainable, Realistic, and Timely) is the acronym that will help us in our writing. Each of the goals we set will meet these five requirements.

Specific: The more specific you are in your goals the easier it will be to accomplish it. Getting healthy or enjoying life sound nice, but they aren’t specific enough to track or know if you accomplished it. How do you want to get healthy? Add 1 yoga session to your weekly routine? That is something that you can track.

Measurable: Each goal needs to be measurable. The typical New Year’s Resolution of “lose weight” is not measureable. But, if you reword it to “lose 10 pounds” does meet the criteria.

Attainable: Each goal needs to be attainable. Do you have all the resources that you need to meet this goal (such as time or money it may take)?

Realistic: Each goal should be realistic. Are you (or anyone) really able to accomplish this? I don’t think losing 100 pounds in 1 month is realistic for anyone. The typical person can’t complete a 4 year degree in 1 year. You just need to be realistic here, and many New Year’s resolutions don’t meet this criterion.

Timely: This is a rather easy one. You just have to set a time to accomplish the goal by or a deadline. Do you want to lose 5 pounds by June 1st?

Tomorrow: Setting Financial Goals…

Over the next few days, I’ll be discussing goal setting. These are goals to assist all of us to be more productive, and not the generic “lose some weight” New Year’s resolution that most people set and aren’t able to keep. This initial planning for next year will allow us to prepare for a more organized, healthy, financially fit, productive and prosperous 2009. By really considering what you want out of life and what is important to you, goal setting is the best way to get you there. We will first discuss how to write goals, and then discuss different categories of goals for next year. I’ve found that having goals in different categories allows me to be a more balanced person.

Tomorrow: How to set SMART goals…

Today (and during the next week) is a great time to pick up some things (at highly reduced prices) to use in the next months or year. Many regularly shop the day after Christmas for next year’s Christmas ornaments, decorations, wrapping, cards, etc.

By thinking more creatively, you can make these saving go even farther. Many nice gift packs (that are only out during the holidays) are now at least 50% off. Depending on the items they contain, these make great gifts during the next months and years. Grocery stores will be liquidating there remaining baking items they stocked up on for the holidays. This is a great time to stock up on them. Also, think of stocking up on solid colored items. Red wrapping, candles and candle holders can be used for Valentine’s Day. Red paper plates are great for summer BBQ’s. Also, green decorations can be used for St. Patrick’s Day. And, any solid wrapping paper can be used for birthdays

On this wonderful and festive of all holidays, I want to wish everyone a very Merry Christmas. Each family has every unique holiday traditions. Christmas Eve services, that special traditional meal with the family, a special recipe or Christmas cookie, and/or opening presents on Christmas Eve or Christmas Day, just to name a few. These traditions are so important to us, and as we get older they mean even more to us. The people in our lives and these cherished traditions are what’s important not the materialistic holiday of “things” that we often lean toward.

The real meaning of Christmas is to celebrate the birth of Jesus Christ. The Christ child came to us in a manger. He came to the poor and everyone, not just the rich or royalty. And, yes there were gifts, but those original ones were symbols and didn’t put the wise men in debt. On this Christmas Day, I want to thank God for his most precious gift of his son Jesus.

All the shopping is now done, including all grocery shopping. I have wrapped all the gifts, but still have to add bows and name tags on some of them. I plan to do this between batches of cookies. That should be doable. And yes, I did follow my own advise by downsizing the batches of cookies for the year. I polled the family members and was happy to find out that all agreed on Snickerdoodles, Short Bread and Oatmeal Cookies. Will be making those today, then make the cranberry sauce for tomorrow. I just have to get that done before our first family get together tonight. I always work better with a deadline anyway.

With only 1 day left before Christmas, I want to leave you with one additional last minute tip. If you find that you receive a card from someone you didn’t have on your card list, or for some other reason want to send someone a card at the last minute, ecards are a great way to fit that need. [I also like sending them throughout the year just to remind someone I’m thinking of them, or if they need to be cheered up for some reason.] Hallmark is my favorite site to send ecards from, although there are many others out there. Hallmark, as many sites, does charge for some cards, but have others that are free to send. It’s always nice to have a free way to let someone know you’re thinking of them.