Wednesday, 9 May 2007

setting goals

I posted earlier that maybe getting out of debt was easier than just trying to get rich and the primarily this was because when you're getting out of debt you have a particular target. brad @ analyzing wealth commented on the post and kevin @ kmull stated in his roundup of the carnival of personal finance that I should set some goals. In particular brad said that I should create some arbitrary goals and kevin said that I should create some SMART ones. Also, recently trent @ the simple dollar has been running a series of posts on setting goals.

So, I've decided to set some arbitrary, SMART (specific, measureable, attainable, realistic and timely) goals.

  1. I am going to invest £2700 in retirement savings in 2007.
  2. I am going to invest £1200 in my stocks and shares ISA in 2007.
  3. I am going to donate £250 to charity in 2007.

I was going to write a fourth goal which was not exactly personal finance related to do with decorating my new house, but I thought that it might be a little pre-emptive since I haven't finished the purchase yet.

So there we go, there are my personal finance goals, I hope you all think that they are good, they are certainly arbitrary, specific, measurable, and timely. Now we just have to see if they make me think that becoming rich is do-able.


Brad said...

plonkee, I think it's great that you've set some goals for the year. Having specific and attainable goals really puts a "finish line" in your finance activities. I don't think I could stay motivated without one.

Good luck!

plonkee said...

Glad you like the goals. I'm going to try and update my progress throughout the year.