PT Money » Financial Goals

Five Personal Finance Habits of the Past that Must End to Have a Financial Future

Guest — Tue, 30 Aug 2011 17:54:27 +0000

Have you stopped these bad habits of the past?

In the years leading up to the current global economic mess, virtually no one can claim that they weren’t guilty of some fiscal irresponsibility.

While it was the actions and decisions of major investors and industries that directly contributed to the Great Recession, it was a collective culture of bad financial habits that encouraged the risky stock market behavior to begin with.

Looking forward, there are plenty of ways in which we can learn from these mistakes to plan a better financial future. The following are five classic bad money habits that people simply can’t get away with anymore.

1. Staying Satisfied with Low-Wages and Long-Hours

With the job market the way it is, many people feel like they should be happy with any kind of work. But flipping burgers from 9-5 Monday through Friday is simply not going to pay the bills when you have a family.

Working long-hours to make up the difference leaves you perpetually exhausted and unable to try and get an education or make your life better in some other way. It’s also detrimental to your health, which in the long-run makes things worse for you financially.

2. Going Credit Card Crazy During Christmastime

In the past, the one time of year that excessive credit card spending has been tolerated has been the end of the year holiday season. This needs to end immediately. Racking up massive credit card debt at the end of every year just carries your credit card burdens further and further down the road.

If your family has to undergo a relatively lackluster Christmas then so be it. If everyone avoided credit cards no one would “out-spend” each other as much as we do.

3. Using Credit Cards Instead of Cash

If you use your credit card responsibly and pay off the balance at the end of every month, then using it to buy food and gas is acceptable. However if you’ve already established a hefty balance on a credit card then it’s imperative that you stop using it for minor purchases.

Pizza delivery should not be paid with your credit card, especially if there’s cash lying around. If there’s cash but you don’t want to spend it on pizza, then you shouldn’t be ordering it anyway.

4. Banking on Bankruptcy

The laws of the United States go out of their way to make filing bankruptcy an accessible option for individuals while at the same time ensuring that individuals are not getting free passes to be fiscally foolish again. With that said, bankruptcy should never ever be looked upon as some sort of default insurance plan against bad financial decisions.

Not only is it becoming increasingly difficult to file for bankruptcy based on the kinds of defaults most people experience today, but bankruptcy is also something you should see coming months beforehand. Instead, use those months to instead find a responsible way to better the situation.

5. Holding Off on Healthcare

As mentioned earlier, not caring about your health in an effort to earn or save a few bucks is not a smart long-term strategy. Aside from the fact that being dead is itself not an ideal position to find yourself in, the costs of taking care of a health problem almost invariably increase the longer you go without treatment.

Simply put, if you don’t feel too good and it’s obviously more than just the flu you need to seek medical attention. Whether it’s an expensive co-pay or completely out-of-pocket, the costs of getting a doctor’s opinion beats the potential costs of a serious medical malady.

We’re all guilty of some form of financial irresponsibility. This does not mean we can or should carry on the same bad habits out of habit itself. Times have changed. Your financial maturity must change as well. Otherwise, continued current financial missteps can lead you to a future dead-end.

Ryan Sandberg is an Internet Marketer working for Growth Partner Capital with a passion for entrepreneurship, efficiency and ice hockey. He enjoys spending his free time sharing his opinions/findings on finance, marketing, entrepreneurship and current tech trends.

Photo by Charly Morlock

Five Personal Finance Habits of the Past that Must End to Have a Financial Future is a post from: PT Money: Personal Finance by PT.
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How to Change Your Bad Money Habits

Miranda Marquit — Tue, 16 Aug 2011 20:35:36 +0000

Do you have any bad money habits?

All of us probably have habits we wish we could change.

This likely includes money habits!

If you are looking at your money habits, and realizing that you could be doing something differently, now is the time to do something about it.

You can change your bad money habits, and replace them with better habits that will eventually lead to financial freedom.

1. Acknowledge Your Problem Areas and Take Responsibility

The first thing you need to do is be brutally honest with yourself. Look at your spending habits, and consider what triggers your spending. My husband loves getting a good deal. However, he’ll spend hours on Amazon or eBay looking for “great deals.”

When you’re looking for a reason to spend money, chances are that you will, in fact, spend money. I am willing to be more extravagant than I should be when away from home. I’ll pay ridiculous amounts for things because “I’m on vacation.”

Before you can make changes, you need to look at your spending habits, and be honest about the way you interact with money. Only when you acknowledge your problems and take responsibility for your mistakes can you begin to move forward.

2. Sort Out Your Financial Priorities

Now that you recognize your problems, it’s time to decide what’s really important to you. You need to sort out your financial priorities. If travel is more important to you than watching TV, cancel the cable and reduce the times you go to the movies each month; plan to put the money you save in a vacation fund.

Stop and think about what you really value, whether it’s more time with your family, the ability to help others, or the goal of returning to school for an advanced degree. Think about how your bad financial habits are keeping you from reaching your financial goals. This will provide you with motivation to improve your money habits.

3. Make a Plan

Next, you need to make a spending plan that fits with your new spending priorities. The best way to overcome a bad financial habit is to replace it with a good one. Make a plan that will help you address your financial goals of getting out of debt, saving for retirement, and enjoying yourself a little bit now.

Not to long ago, my husband expressed a desire to pay off our private student loans ASAP. We decided to make it priority, so we shifted our spending plan to reflect that desire. Now, when he’s considering buying a new action figure for his collection, we consult our plan.

Since we rate paying down that student loan debt above getting another trinket, we won’t get the figure if it will alter our ability to accomplish the more important financial goals we have.

4. Continue to Encourage Yourself

You won’t replace your bad financial habits with good habits overnight; it takes hard work and effort to make a permanent change. You can accomplish this, though, if you remember to stay focused, and find ways to reward yourself. Set milestones in your debt pay down or emergency fund build up goals.

When you reach a milestone, you can reward yourself with a small treat. Also, if you get off track, don’t assume all is lost. Take a deep breath and get back on track as quickly as possible.

You can change your money habits if you are willing to recognize your shortcomings, and make a plan to replace them with better money habits.

What steps have you taken in the past to get rid of your bad money habits?

Photo by hmvh

How to Change Your Bad Money Habits is a post from: PT Money: Personal Finance by PT.
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Don’t Let Love Destroy Your Finances

Jon the Saver — Mon, 25 Jul 2011 13:38:31 +0000

Is love destroying your finances?

We all love being in love! The butterflies, the smiling, the first kiss. I’m not going to lie, being in love is great. It’s what people dream about. It’s what Hollywood makes movies about. Enjoy the love when you find it, but don’t let it ruin your finances!

Often times, couples who are in love throw logic and care to the wind. They end up making decisions that wreak havoc on their budgets, savings accounts, and worse: credit scores. You can save yourself a world of hurt by avoiding these five faulty decisions.

1. You Go into Debt for a Valentine’s Gift

Going into debt for consumer purchases is just bad practice in general. You would never do this with your own purchases, so why would you go into debt for your significant other? If you can’t afford something, don’t go into debt for it! Consider a cheap Valentine’s Day gift.

You want to avoid paying interest on the debt at the end of the month. If money really becomes an issue, talk it out and possibly do something simpler. It’s not always about the gift, sometimes spending time with each other is more important.

2. Paying for His/Her Rent or Car Loan

If you’re not married yet, paying for each others loans is flat out stupid. You’re not sharing assets yet so why would you do this? Who know if a breakup is around the corner? Don’t risk your money. It might seem nice to do it, but you could get burned in the long run.

3. Never Talking About Finances

Did you know that finances are the number one reason for divorce in the United States today? Even more shocking is that many of these problems could have been solved by talking about finances early on in the dating stage.

Waiting until you get married to talk about finances is dangerous and can wreck havoc on a relationship as well as your bank accounts. You need to discuss spending personalities, habits and financial history.

You don’t want to wait until you’re married to find out your significant other has 50k in gambling debt. Financial problems can be a real deal breaker for some people. Talk about finances often and early on. You will thank me, trust me on this one!

4. Share PIN Numbers with Your Girlfriend or Share Credit Cards

Oh boy, I still can’t over the fact that people do this! If you’re dating, why would you share your ATM PIN?! You’re just asking for trouble. Until a ring is on her finger, you should never share this information!

You should be 1000% sure that you’re going to get married before you share this type of info. What if the relationship ends up badly? Do you really want a crazed person running around going on a shopping spree with your ATM info?

I know I don’t, and I’m sure you don’t either. Sounds like hell to me. Keep transactions separate for the time being. Once you’re married, go ahead and share this info. Until then, keep it confidential.

5. Opening Joint Accounts When One Person has High Amounts of Debt

This is a rare instance where I actually recommend couples not to open joint checking accounts. The reason being is that both of you will get dinged and locked out from high interest savings rates and low interest loans.

If one person’s account has some serious debt, keep the accounts separate and make it a goal to get all the debts paid off. Only after you have paid off the debt for one account should you open joint accounts. You don’t want to tie up money when you don’t have to. You really should avoid this.

As you can see, there are some serious financial traps that are easy to fall into if you’re in love. Don’t let love blind you and ruin your financial future, it’s just not worth it. Try to iron things out before the wedding and communicate as much as you can about finances during the dating stages.

What do you think? Is this good advice or do you disagree? What are some of your experiences?

Photo by harry ng

Don’t Let Love Destroy Your Finances is a post from: PT Money: Personal Finance by PT.
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The Secret to Understanding Your Personal Money Style

Miranda Marquit — Thu, 07 Jul 2011 04:58:00 +0000

What's your style?

One of the best things you can do for yourself is to understand yourself. This advice is often given to those preparing to embark on a personal relationship with someone else.

However, this advice also applies to the way you deal with money. Your relationship with money needs to be divined by who you are, and that means that you need to understand your personal money style.

Beyond Saver vs. Spender

In many cases, we tend to label others – and ourselves – as spenders or savers. However, your personal money style goes beyond that. Scott and Bethany Palmer, authors of First Comes Love, Then Comes Money, identify five money personalities:

Spender: Likes to spend.
Saver: Pinches pennies.
Risk-Taker: Is willing to take a risk if s/he thinks it will pay off big.
Security-Seeker: Would rather make money moves based on safety.
Flyer: Doesn’t really care about money (or managing it).

The Palmers believe that you have a primary personality and a secondary personality. I am a spender primarily, but my secondary personality is a security-seeker. My enjoyment of spending is tempered by other considerations - including making sure we have an emergency fund, retirement account and the means to support the lifestyle I enjoy.

However, I think your personal money style goes beyond even those five more nuanced categories. In order to understand your personal money style, you need to know what’s important to you, and what you consider “worth it” when you spend your money.

For example, I prefer experiences over things. I would rather go out to eat at my favorite restaurant than buy a new trinket. I would rather have a 32-inch TV and go on a mini-getaway than purchase a huge 60-inch TV. Understanding this about myself helps me make decisions that I am happier with.

Your personal money style also includes how you feel about the purpose of money. Is money itself an end? Do you define your status and worth by how much money you have amassed? Perhaps you believe that your financial resources should be directed at helping the less fortunate.

I think that it is important to help others when I am in a position to do so, but I also think that money can be a means to an end for personal enjoyment. As long as I have enough to do most of what I want to do, I’m not concerned about how much money others have, and what they do with it.

Money Motivations

There is a lot that goes into your personal money style. It can be difficult to categorize your money style, but labels are less important than understanding your personal motivations for the way you spend — or save — your money. Take a look at what motivates you, and how that fits in to your future financial goals and your present spending.

Honestly evaluate how you feel about money, and how you think your financial resources should be used. Don’t answer with what others think is the “right” response. Instead, make and effort to look at what you are doing with your money, and what you would like to do with your money. If you don’t like what you see, you can make changes so that your personal money style matches who you want to be.

Which of the five money personalities would you say you possess?

Photo by Astragony

The Secret to Understanding Your Personal Money Style is a post from: PT Money: Personal Finance by PT.
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Does This Get Easier? Getting Ahead Financially

Philip Taylor — Thu, 09 Jun 2011 17:08:50 +0000

Are you getting ahead?

Does this money thing get any easier? We’re all in different stages. There are plenty of us who are just getting started or who are “in the middle” of our own journey with mastering money.

I’m here to tell you that getting ahead financially takes time; even for a well-educated, financially-nerdy, entrepreneur-oriented guy like me. It took me until my late 20s before I could fully wrap my head around (and act upon) some of the core concepts of personal finance. I’m still learning new things and setting new goals. It really is a process.

What is “Getting Ahead”?

Obviously we’re each going to have our own definition of what it means to get ahead financially. To use a cliche, personal finance is personal. But generally, I think getting ahead comes down to a few things.

An awareness of where you are and where you want to be (i.e. establishing some type of goal).
Seeing progress towards those goals. This could be reducing your credit card debts, increasing your emergency savings, setting up life insurance, or any number of things.
Having the ability to fast-forward that progress, either through wise spending, increased income, or both.
Developing a confidence in your ability to maintain your progress and, probably more importantly, not end up back where you started.

That’s really it. It’s less about a number. Who cares how much actual debt you have! There’s someone with more debt, and there’s someone with less debt who’s mismanaging their money. Who cares how much net worth you have compared to your peers! Your net worth is growing by huge percentage points. Proper money management is not a race against others. It’s a marathon; and you’re mostly competing against yourself.

What do you think it means to “get ahead”?

Things that Help in Your Journey

There are a few, less-tactical things, that I believe have helped me in my own journey:

Learning to be satisfied. Don’t get me wrong, this isn’t about doing without, or settling. I’m as capitalist as they come. Get as much as you want and get it today. But it’s much more important for me to be able to get as much as I want, than to actually get it. Beside, stuff just costs you more money.
Seeking out value. Quality things, last. Things that you value, satisfy. That is all.
Being conscious of opportunity. There are new opportunities everyday to make more, save more, and spend more wisely. Are you training your brain to spot them?
Having a system but keeping an open mind. Financial systems and automation are important, almost critical in some ways. But don’t marry yourself to one way of thinking. Be open to different solutions.
Accept that there is no end. While you can “get ahead”, there is no financial promised land. You are always going to have to deal with something money-related, even down to how to pay for your funeral. And really, you should always be making the most of what you have, which takes continued effort and education.

I don’t know where you are on your path to improved finances, but from where I stand today, I can tell you that it does get easier. Keep at it.

photo by moyerphotos

Does This Get Easier? Getting Ahead Financially is a post from: PT Money: Personal Finance by PT.
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The Savings Snowball

Philip Taylor — Wed, 11 May 2011 11:30:56 +0000

How big is your savings snowball?

The other day, while running some errands with Mrs. PT, I had one of those light bulb moments. She wasn’t initially impressed (she’s my highest hurdle), but I was impressed with myself. The idea: a savings snowball.

It works similar to how the debt snowball works. Except you aren’t snow-balling debt payments; you are snow-balling savings (e.g. emergency funds, vacation fund, holiday gift fund, retirement accounts). So, if you aren’t currently tackling debt, or if you’re content with the low interest debt that you have (like we are), then you should be working on a savings snowball.

After a quick search of the Interwebs I realized that my idea wasn’t new (cue sad trombone). Many others have tackled this “savings snowball” concept before. Regardless, I haven’t talked on the subject, so I thought I’d give it a go anyway. After all, you guys are looking for my spin on things anyway.

The savings snowball is simple. First, list out all of your savings goals. This can include immediate goals (next week or month), short-term goals (< 1 year), mid-range goals (1 to 5 years), and long-term goals (> 5 years). The second step is to list your goals in the order in which you need to achieve them.

The third step is to start making all your extra savings deposits towards the first goal. Continue making the “minimum” deposits into all your appropriate accounts (e.g. 401K matching). Finally, once you achieve one goal, move to the next. Repeat this step until you’ve reached all of your savings goals.

The concept of savings goals isn’t new. But prioritizing them and systematically “knocking them out” is. The idea here is that with a prioritized list and a system, you’ll more easily stay motivated to save. As you build savings in each of your accounts, the process will compound upon itself (like a snowball), and you’ll be more likely to achieve all of your goals. It’s a psychological thing.

While the debt snowball can be achieved within a year or two, leaving you left to move on to bigger things, the savings snowball stays with you each year. Next year, you’ll probably go on vacation, you’ll want to max out your Roth IRA contributions, you’ll want to save for the holidays, etc. Savings goals are achieved, and then they reappear the next year.

Another point to make here is that with savings, unlike with debt, there is no interest factor. Therefore, you don’t need to have the money as quickly as possible. You need to have the money just in time. Therefore, once your savings goal date is known (e.g. November 15th for holiday savings) then you can create automatic savings withdrawal or direct deposits to get you there on time.

There is no sense in getting there quicker. By the way, in case you can’t tell from other posts I’ve written, I highly recommend automating and separating your savings effort. So, even if you have a snowball system written out on paper, the actual savings effort can take place automatically and safely using the best that today’s technology has to offer.

Our current savings snowball includes:

Boost to Emergency Fund – $25,000 – Due 12/31/2011 – We have a decent emergency fund. It would work fine for a family with two working spouses. But that’s not us anymore. My wife is a full-time Mom and I’m self-employed. We need a stronger emergency fund. Another $25,000 would have us breathing easier.
2011 SEP IRA Contribution (my business) – TBD – Due 12/31/2011 – This is going to be my whatever is left retirement account for 2011. It will be my first time contributing to a SEP IRA, and with my variable income, I’m just not sure what I’ll have ready to contribute. One thing I do know is that I’ll be making this contribution by the end of the year so that these funds count towards my 2011 limit.
Future House Down Payment Fund – $50,000 – Due 4/15/2012 – We are considering a move in the near future. We’d possibly like (need) to hang on to our current place as a rental. Thus, we’d need to build another down payment fund. I’ve set this for $50 (a lofty goal), which would comfortably get us there.
2011 Roth IRA Contributions – $5,000/each – Due 4/15/2012 – Finally, we’ll need to make our 2011 Roth IRA contributions by tax time next year. This is a now brainer. It’s the low hanging fruit and something we’re committed to doing each year.

What about you? Are you currently working a savings snowball?

photo by gluemoon

The Savings Snowball is a post from: PT Money: Personal Finance by PT.
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Plan Your Dream Family Vacation Without Using Credit

Miranda Marquit — Thu, 17 Mar 2011 19:25:16 +0000

One of the great traditions enjoyed by my family (and by many others, I’m sure) when I was growing up was that of the family vacation. Of course, whether you are planning to fly seven people to Disney World or loading up the 15-passenger van for a three-week cross-country road trip, you need to do some financial planning. The expenses involved in a family vacation require that you plan ahead. And you can get the whole family involved!

How to save money for a fun, family vacation.

Figuring Out How Much You Need

The first thing that needs to be done is an estimation of the cost of the trip. If you are taking a road trip, you will need to estimate how much money you will spend in gas (use the AAA fuel cost calculator to help) and hotels. You can reduce the cost somewhat by staying with relatives, looking for long-term rates, and even by camping out in some places, but there are always expenses associated with being on the road.

Other costs to consider include:

Cost of food (reduce this expense by bringing some with you, as well as getting hotel rooms with kitchens so you can do some of your own cooking)
Cost of laundry if it’s a long trip
Charges for luggage if you are flying
Possible parking costs and tolls
Entrance fees for parks, museums and other activities
Miscellaneous costs and unexpected expenses
Souvenir purchases
Foreign currency conversions if you travel out of the country
Various taxes on rooms and other items

While you won’t be able to pinpoint the exact cost of the trip, you should be able to get a good estimate. Once you have that estimate, you can start making a plan to save up what you need as a family.

Saving Up What You Need

Your next task is to save up what you need. Most years, my husband, son and I fly to Albany, NY to visit my husband’s family. We usually stay with family, but we also like to get away and do other things, like visit New York City or Boston, as well. We also like to rent a car, since my husband’s parents only have one vehicle. Airfare for the three of us and other expenses usually amount to right around $2,500. This means that we need to save $208.33 a month in order to pay for our trip. We plan it every year, so we have 12 months.

However, if you plan a $2,500 trip and you only have six months to save, you will need to set aside $416.66 each month. To get the money, you may need to encourage everyone to chip in. Find out what everyone can give up in order to put money toward the vacation. Evaluate family spending, and take suggestions for cutting back on entertainment, snack food and other unnecessary spending. That money can go toward the vacation fund.

Next, encourage your family members to make an attempt to earn more money. Teenagers can get jobs, and even those aged 8 – 16 can find odd jobs around the neighborhood to help them earn money for the family vacation. Adults can work a little extra, or begin a small side business to help earn money. The point is that everyone chips in to reach the shared financial goal of paying for a family vacation.

What do you do to save up for a family vacation?

Plan Your Dream Family Vacation Without Using Credit is a post from: PT Money: Personal Finance by PT.
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What Gives You Financial Satisfaction?

Philip Taylor — Tue, 08 Feb 2011 05:04:10 +0000

We’re well into the second month of the year now. The “I’m going to do it this year” mentality is starting to wear down. To keep up your financial resolutions, it’s likely you’ve had to experience a satisfying moment with your finances. What have those points of satisfaction been for you? For me, I usually get the satisfied feeling when I see an automatic savings withdrawal pull from my bank account, or when I go four or five days without splurging on a meal outside the home. Other satisfying moments to appreciate are (just examples):

Paying off a debt
Reaching a savings goal
Getting signed up with proper insurance
Meeting your budget for the month
Lowering a monthly bill payment
Getting a great deal on a necessity
Improving your credit score

So what have been your most satisfying moments of the year so far?

Now for some links from last week:

Organize and Thrive: How Small Changes Can Better Your Finances Forever – Check out this excellent guest post shared over at Money Under 30. Take the quiz and find out how organized your finances are. I scored a 6. I’m “Nicely Organized.” What about you?

Spending Too Much Money? 10 Warning Signs to Watch Out For – It’s good to check yourself every once in a while and see where your spending is. Is it getting out of control? Check out these warning signs.

Is Gold A Good Investment Now? – Check out this challenge to the idea that gold should be a part of your portfolio. Great points. Head over and voice your opinion about investing in gold.

What’s In My Portfolio? (Choosing Mutual Funds) – The king of simple, low-maintenance investing advice pulls back the curtain to reveal what’s in his portfolio. So easy, anyone could do it.

Bootstrapping Your Start-Up Business With Little or No Money – I love this concept. It’s a myth that you have to go out and take on debt to get a business started. In my opinion, it just means one or two things: either it’s not worth it to you to save up the money, or you can’t think outside the box when it comes to resourcing your business.

TurboTax vs H&R Block Online: Which Is Better? – Last week I separately reviewed H&R Block and TurboTax. Read this article to see how they compare side-by-side.

The Power of Automated Savings – A real example of how automated savings can work. Set it, and forget it. You’ll never miss the money. I promise. What’s stopping you?

Carnivals: Personal Finance, Working at Home, Wealth Builder, Credit Scores and Debt, Tax Carnival, Totally Money, Wealth

What Gives You Financial Satisfaction? is a post from: PT Money: Personal Finance by PT.
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Create Accountability for Your Finances

Philip Taylor — Thu, 06 Jan 2011 14:11:37 +0000

The theory is that when we engage others or some outside force regarding our financial situation, we are more likely to stick to our financial goals. Here are a few quick tips to bring more accountability into your finances:

“Accountability breeds response-ability.” Stephen R. Covey

Couple with Your Spouse - Odds are, no one knows your financial situation better than your spouse. Ideally, at some point you should both have met to agree upon financial goals for your family. Since you know each others shared goals and values, it’s easy to have discussions about your finances with those goals and values in mind. Those are the conversations you should be having: “how is this helping us in our financial goals?”, “let’s get back in line with our values.”

Enlist a Friend – If you don’t have a spouse, enlist the help of a close friend. Tell them your financial hopes and dreams. Tell them your actions steps to get there. Outline milestones in the process. Then ask them to hold you accountable to your goals. Ask them to check in with you at each of the milestones. A good friend won’t mind doing this.

Pay for a Trusted Advisor – Contact a fee-only planner, or some type of financial coach or counselor. Set up weekly or monthly meetings with this person to review your financial situation.

Make Signposts – Put your financial goals on your fridge (hey, that’s where I spend a lot of time). Put them on your mirror in the bathroom. Put them in your wallet taped to your credit cards. Sometimes all we need is our own daily reminder to help hold us accountable.

Surround Yourself with Like-minded People – You know if you are hanging out with people who aren’t in line with the goals you are trying to achieve. Find and focus on relationships that naturally lead you towards a healthy financial future.

Make a Wager – Put some money on the line to move you closer to your financial goals. A site like Stikk.com will help to facilitate your wager.

Create Systematic Reminders – If people can’t motivate you, then maybe an automated system can. Create a budget, or sign up for a financial management service. Mint.com helps me by reminding me of payments, balances, and goals. You Need a Budget is an excellent zero-based budgeting tool that many readers rave about. Debt Goal is helping thousands of people in their quest to get out from under their debts.

What do you use to help hold you accountable to your financial goals?

(photo by lumaxart)

Create Accountability for Your Finances is a post from: PT Money: Personal Finance by PT.
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A Quick Review of My 2010 Goals

Philip Taylor — Fri, 31 Dec 2010 16:53:42 +0000

A Look Back at Blogging Goals

Provide some type of interesting series. I shared my 6 takeaways series with you guys. But that was already a part of the newsletter. So I don’t think I can consider that new and interesting. I thought my series (just two parts) on meeting with a CFP was pretty interesting.
Finish the “saving to give” e-book. This did not happen. 4,000 words of content yet to be shared with the world.
Roll out another e-book. This did not happen. Although, I guess you could consider my new Part-Time Money podcast a new product. But my intention with that goal was to produce a premium ebook or product.
Write more guest posts. This was a complete success. I wrote 65 guest posts for other blogs in 2010. I also wrote 30 articles for U.S. News blogs.
Double my current traffic and income stats. Traffic has just about doubled since last year and income has more than quadrupled. I could not be much happier with the results here.
Grow subscribers to 5000 (currently at 2300). Success! Today the Feedburner widget it reporting 4,989 subscribers.

Considering the ups and downs and uncertainty we experience this year, I’m extremely pleased with where we find ourselves both financially and with the blog. Over the weekend I’ll give some more thought to 2011 and layout some goals there.

A Quick Review of My 2010 Goals is a post from: PT Money: Personal Finance by PT.
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