tag:blogger.com,1999:blog-453382502205028046.post2952156772407405631..comments2020-09-30T12:04:51.075-05:00Comments on Dan's Life Stories: MementoDanielhttp://www.blogger.com/profile/05156120623197100434noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-453382502205028046.post-30614072182923756532016-05-18T15:34:28.246-05:002016-05-18T15:34:28.246-05:00In the future you can just ask if I have any SMART...In the future you can just ask if I have any SMART goals for you ;-) Mint is a phenomenal tool and I've been using it since 2010 to track expenses. One of the best features in Mint is the budget tool so you can set a monthly budget for something and see how you're doing. You do have to do a fair amount of categorization of the actual expenses but if you do it as you go it isn't too bad. I don't recommend a thousand line items in your budget - we only have a few categories. <br /><br />Bills and Utilities - Mortgage, Cell Phone, Insurance, Power and Water, Internet, Tithe, Trash (just stick them all in this one)<br />Groceries <br />Gas<br />Home - This is eating out, toilet paper, oil change supplies and everything else. <br /><br />keeping the categories relatively simple has been very helpful. the bills and utilities category I attacked ruthlessly in the initial part of our financial journey. Cutting cable, lowering internet speed, changing cell service, optimizing insurance, cutting my own hair. All that to say they are "fixed" costs but they shouldn't be removed from thinking about them.<br /><br />The single best SMART goal I would put forth is to establish a savings rate (how much you save/ how much you earn) you would like to achieve and try to measure that on a yearly basis. To support that determine how much should be saved each month and then at the end of every month pay off all credit cards and see how you did. Establishing a rhythm is very critical or else you can get lost in the minutia of where all the money is at and such.<br /><br />Dave Ramsey recommends 15% savings - I recommend 50% as a target. It will be impossible to set a goal and track it though without understanding how much you spend. And not a high level I think I spend this much, but a detailed line by line look for at least a couple of months to get a real handle and understanding.<br /><br />I can provide some other potential SMART goals as well if you don't like those ideas or if you want to take it to the next level. Some softer goals more completion based goals I would recommend would be the following:<br /><br />1. Read I Will teach you to be rich by Ramit Sethi<br />2. Open a vanguard personal investing account <br />3. Read the JLColins Stock Series - http://jlcollinsnh.com/stock-series/<br />4. Read all Mr. Money Mustache Posts from the beginning to the present <br /><br />Benhttps://www.blogger.com/profile/16724263766743770844noreply@blogger.comtag:blogger.com,1999:blog-453382502205028046.post-57675571738312418802016-03-07T08:51:33.433-06:002016-03-07T08:51:33.433-06:00Good questions. Mindy has made some not-so-subtle ...Good questions. Mindy has made some not-so-subtle comments about my table manners, plus I've been meaning to work on that for a long time!<br /><br />I neglected to mention that I am working on making a budget based on my (and Mindy's) spending over the last year (using the Mint app). I'm also working on getting my own supplemental disability policy. Any suggestions for specific, measurable, attainable, realistic, and timely financial goals?Danielhttps://www.blogger.com/profile/05156120623197100434noreply@blogger.comtag:blogger.com,1999:blog-453382502205028046.post-60744420847913977262016-03-07T07:58:35.590-06:002016-03-07T07:58:35.590-06:00Interesting that you have picked up a lot of new g...Interesting that you have picked up a lot of new goals! What drove the "improve table manners" addition?<br /><br />Why do you not have any financial goals? Benhttps://www.blogger.com/profile/16724263766743770844noreply@blogger.com