Monthly Goals

Despite having long term & short term goals, I also think it's a great idea to have monthly goals. Things that you can focus on over a period of 4-5 weeks. With that said...I'm going to make myself one goal for August, since today is the hmmm...21st!

August Goal

• Track my expenses (Mint makes this easier!)
• Do a more accurate budget for September based on these expenses

I'm MINTY

So I've recently decided to mint myself...I signed up for Mint a website that tracks all of your finances and categorizes them and also analyzes your spending patterns. It compares them to other people in the U.S. as well as in your area too. Kind of neat, huh?

The only thing that worried me at first was the security. However, after watching the demo video I decided that since they don't know my name, SSN or anything personal, it'll be fine. They only know what I do with my money...and I also got the opinion of a friend who specializes in internet security who informed me that it's just as safe as anything else out there.

So with that said...I quickly set up my account (less than 5 minutes). The only issues that presented problems were trying to find my credit union account, and linking the correct sites with my logins. (i.e. some institutions have more than one link, so you have to figure out which one is correct in order to login). I also discovered that if security questions pop up when trying to login, you have to answer those security questions, you can't leave them blank. Meaning I had to set security questions for two of my accounts, as well as answer all of the questions for each account, not just one.

The way the site displays and categorizes your spending is phenomenal. It was great to be able to click and in seconds have a pie chart that breaks my spending down, even offering the option to adjust the time frame. Also being able to compare my spending with others in my area was also another feature that's great. Especially with me being in DC, things are more expensive than they'd be for someone in say...Dallas.

You can even send support an email if you're having issues and they'll attempt to work through them with you. Not bad, not bad at all. I invite you to check it out...get minted.

Fabulous Thoughts

Last night at my investment group meeting, we discussed the importance of having one's financial life together & staying in the mindset. Meaning it's important to continuously seek new information on retirement, investments, savings, etc. no matter how weary you may get. Persistance is the key...if being disciplined enough to be rich were easy, everyone would be rich, right? Exactly! And that's why everyone isn't rich. Everyone doesn't want to take the time to write out goals and stick to them, budget and stick to it, invest regularly, or stay in the mindset of growing rich.

So from now on...my mindset is "Think and Grow Rich." Just like the book, which I'm currently reading. It's all about changing the way you think about things in your life and how if you consistently have money on your mind, you're bound to see and create opportunities that may pass others by.

Then I get on CNN and find the above referenced article about saving at a young age which inspired me even more. So I definitely feel like I'm on the right track, it's just about staying focused in order to continue my quest towards financial fabulousity.

Here are some thoughts that I read in my book, which I intend to write on index cards to stay focused:

• Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistance with does not recognize failure, will bring riches.
• ...there is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it.
• No one is ready for a thing, until he believes he can acquire it.

And finally, I'll end with Six Ways to Turn Desire into Gold from Think and Grow Rich:

1. First, fix it in your mind the exact amount of money you desire. It is not sufficient merely to say "I want plenty of money." Be definite as to the amount.
2. Second, determine exactly what you intend to give in return for the money you desire. (There is no such reality as "something for nothing.")
3. Third, establish a definite date when you intend to possess the money you desire.
4. Fourth, create a definite plan for carrying out your desire, and begin at once, whether you are ready or not, to put this plan into action.
5. Fifth, write out a clear, concise statement of the amount of money you intend to acquire, name the time limit for its acquisition, state what you intend to give in return for the money, and describe clearly the plan through which you intend to accumulate it.
6. Sixth, read your written statement aloud, twice daily, once just before retiring at night, and once after arising in the morning. As you read -- see and feel and believe yourself already in possession of the money.

Budget Update

So, my $25 budget for groceries was slightly overblown by about $5...and that's only because I bought dinner for myself & boyfriend one night. So...with that said, I'm very pleased with my $30 worth of food for one week.

Entertainment: $50 discount tickets to Six Flags & helped with parking

Food: $27 groceries to make brunch for boyfriend & I on Sunday...I guess that probably means I didn't really accomplish the $25 budget for groceries, huh? lol...I just thought about this....

I'm also suddenly addicted to McDonald's Egg & Cheese bagels, at least they're only $1.64 with tax...can I make breakfast for myself that cheap?

I've also committed to getting coffee from the free coffee bar in my apartment complex before leaving for work, this saves me at least $1/day, more if I buy a medium coffee.

Chuggin on....

Budget Buster

Grrr, see just when I decide to commit and fully make and commit to a budget...extra line items fall from the sky!

I got a blasted bill from the dentist for $63.60! Which is interesting considering I haven't been since earlier this year and I have overlapping insurances. Ahh well, such is life. I paid it and I'll adjust accordingly.

I also received a personal property tax bill in the mail. Double Grrrr. That blasted thing was close to $300! Talking about I received $600 worth of relief. WHATEVER! The only relief will be when my car isn't worth as much and I don't have to write them checks for large sums of money. Foolishness, commonwealth of VA foolishness.