Financial Goals


I'm not usually one for setting goals, but lately I have all of these ideas that just float around my head. I think, "Oh yea, I'd like to do that," or "I should really look into doing that."  But I never get around to it and then the idea gets lost to the universe.  I heard it once said that people who write down their goals are 75% (or some crazy number like that) more likely to achieve them than someone who doesn't!  Seriously! 

I wrote down some personal goals the other day, but I can't help but feel like I should have some financial goals while I'm doing the Spending Fast.  I'm in my mid-late twenties, and have no financial backbone, and it scares me! 

This will be a working list, and change periodically.  I'll check in on it from time to time, and maybe in six months do a review.  But for now, here it goes:
  1. Enroll in my company's 401K retirement plan.  I am actually more interested in a Roth IRA plan at this point in my life, so research mutual funds I would like to invest in, and sign up!
  2. Call my bank and talk to them about my checking account's fees.  I've read that for other banks the monthly fee can be waived if you sign up for direct deposit - which I already have.  If they won't waive the monthly fee, find a new bank that will. (I also do not want a bank that requires me to have a minimum amount in my account  to have a fee waived, this usually-four-digit-dollar-amount would better serve me in a savings account). 
  3. Call my Credit Union, where I have a savings account, and ask if the interest is compounded daily, montlhly, annually or quartly... Find a bank that has daily compounded interest...  While I'm at it, find out what my interest rate is...  and, if I need to, check around for banks that have higher interest rates.
  4. Set up a Money Market Account.  This is where I'm going to be putting all of the extra savings I have from my Spending Fast.  Ideally, find one with no monthly/yearly fee, no minimum balance requirement, and has the highest annual percentage rate (the interest they'll give me every year) I can get.
  5. Get a Credit Card.  I don't have one.  I was one of those people who closed the accounts as soon as I paid them off- RULE #1 OF CREDIT CARDS: Never close them!  I'm going to get a card, not to use, but to increase my debt to credit ratio.


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