The Sydney Sun Herald (17 Jan 2010, page 39) asked us how people could improve their chances of achieving their goals. We advised that goals should follow the SMARTER principle:
S=specific
M=measurable
A=accountable
R=realistic
T=timed
E=exciting
R=rewarding
As an example, you can see how “I want to be out of debt” differs from “I have paid $3000 off my credit card balance and have $1000 in savings by the 1st July 2010.” The second is a SMARTER goal. What’s yours?
Yes I’ve given myself an extra week off! Please enjoy the festive season and spend time with loved ones. Refer to the post / lesson below to see the real spelling of the word LOVE and I look forward to sharing with you in 2010! xx
With Christmas and the festive season perhaps imposing certain expectations, don’t try and keep up with others. Go easy on yourself and those around you. Speak to yourself as you would your best friend. Would you expect your best friend to spend a lot of money, knowing that they can’t afford it? Or would you let them know you’re happy just to have them as a friend and you value their company? Remember, when the novelty of a new gift has worn off, people realise that love is spelt T-I-M-E. Are you spending quality time with loved ones?
thou is Sad, Hungry, Angry, Lonely or Tired (ie SHALT). Remember that retail therapy is not a healthy option for feeling better. And especially with the festive season upon us, don’t go overboard in the heat of the moment, letting your emotions control your spending. Do a list of gifts and expected price and keep to budget!! Make up any shortfall with hugs and kisses and quality time.
Having just thrown what many said was a fantastic Cocktail party, here are a couple of tips. Of course feel free to share your tips for the Festive season too.
a. While I don’t often look at junk mail, if you are going to do a large shop, write a list and look through the different brochures. Alcohol and fruit can vary greatly between shops on opposite sides of the road, and sometimes the smaller specialty shops are cheaper.
b. Instead of having pizzas delivered which ususally results in wastage, buy bulk frozen ones and then spread them out over the night (adding your own toppings too). This also gives the more shy guests a reason to walk around and meet others (by playing “offerer of food”).
As we know, our experiences are created by our thoughts, words and actions. And our beliefs are the thoughts we have over and over again. For example, you have to work hard to make money, only people who know people or have an education deserve money, people with money and in business rip other people off.
Unfortunately we can often be misguided in our beliefs due to adopting those of our caregivers when young and impressionable. Indeed our caregivers were doing the best they could. However I challenge you now to seek out the good examples of people with money. Start thinking and saying “the more money I have the more good I can do with it.” Let’s see how big an impact the collective consciousness can have.
Recently a printer cartridge was sold to a family member “on sale” (ie $3 off the marked price of $28) . Upon arriving home it was discovered that the price tag of $28 had been stuck over the original price tag of $22! And I’ve heard of this before, with watches and makeup. So it’s worth your while to take 5 seconds to check that you actually are getting a sale price and not a marked up price.
The other point for this week is to check if an item is scanned at the sale price. Again, this happens often at supermarkets where grocery items are on sale but the change hasn’t been made at the register yet. Don’t become fanatical but do check those prices.
If you want (or dare I say need, given I’ve just had the clutch go on my car), to purchase something and you’re not sure if you should buy it, think about it at least over one or two nights. For example, if it’s over $1000 you may think about it over 5 nights. So pick an amount and practice the saying “If it’s over $x it’s overnight.”
So what have I done about my car? Well instead of spending time (which is my most precious resource) over the next couple of weeks looking for a new one and perhaps making a rash decision, I’m actually excited about spending $1,700 fixing it so I can paint it!! I’ve always wanted to paint a car so this will be it – my nieces and nephews will be able to play too and it will be the funkiest little Mazda 121 you’ve ever seen. Of course it will only be worth $70 scrap metal in the end, but the fun of painting a car! Plus having more time to look and negotiate a new one.
Thank you to Jill, who said she’ll be implementing the tips on this blog (except number 1 – she thinks she may spend the largest note in her wallet). Hey, thanks for your honesty 🙂 Jill also mentioned it may be worthwhile taking the credit and store cards out of your wallet, so that you’re not tempted to use them at whim. If you need to, go one step further and cut them up and throw them out. You could also give them to a trustworthy confidante. Unfortunately I haven’t thought of a solution for those who have memorised the numbers and expiry dates so they can still use them online and over the phone. If you have another idea, please make a comment. Thank you.
In order to reach our long term goals, we need to know our start point. The best way is to do a Scenario budget of weekly cash flow. Break your vehicle registration and other larger expenses down to a weekly amount. For example I know my car & motorbike cost me $25 / week for registration. Use pencil and don’t pressure yourself to “stick to a budget” – that’s unrealistic. Over the next few weeks record what you spend on the different categories and then amend your pencilled figure in your Scenario budget if required.