Keep On Track with Your Goals in the New Year

Posted by: Sally S. | Jan 01,2008

Stay on track with your earning and savings goals this year. A friend of mine and I were recently talking about her family financial concerns. In order to get her kids into a really good school district, they moved into a larger metro area. Their old house, in a rural area, is now rented out to someone else. They family now lives in an apartment. “I feel guilty,” she told me, “When I see the big houses where their friends live.” You shouldn’t feel that way, I told her. Because you have no idea what goes on behind closed doors.

 

And that’s advice we can all use in the New Year. Maybe you don’t have the biggest house or the most expensive car. But some of the people who do live in the big houses are up to their ears in debt. They’ve chosen to forego saving for retirement and to buy the toys they want, instead.

 

And you shouldn’t care about what your neighbors or your friends are doing. All you can do is be responsible for you and your family. Stay on track with your goals this year. Keep saving for retirement using a 401(k) plan or an IRA, and keep planning for short-term goals, like buying a house or a new car, with a savings account. Transfer your high interest credit card debt to low interest cards and look for other ways to save more money for the future.

 

Don’t fall into the trap of worrying about what you have based on what everyone else has. This year, stay focused on your own goals, and be proud of the work you’ve done to get where you are today.

  

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