July Goals – Mid Month Review

I really want to stay on top of my goals this month because things got so lax for a while. The purpose of this blog was not to write about my adventures of staying in debt but to make a million dollars. At the rate I’m going the only way I’ll get to a million dollars is if I keep writing until my vested pension gets there. With that said the first step is to get out of debt and this month is all about figuring out where I stand in the grand scheme of things.

I’ve already posted about my Cash Flow issues and my current net worth, which cover off the first two goals I had for this month. I’ve also gotten my credit score but I don’t have the actual report and I wanted to do a bit of research regarding this before posting so that one is partially completed. I haven’t as of yet started the budget for next month but instead I have started tracking every penny I spend again. The main purpose here is to get a true sense of cash flow. I’m doing this using excel and I’m sure there will be mistakes but I wanted to get a more accurate view of what is happening with my money. So far it’s going quite well.

Towards the end of the month I’ll come up with a budget for next month based on my cash flow estimates and what I’m seeing in my daily tracking. I think it’ll end up a bit more accurate than if I were to take a stab at it now.

Moving onto the next couple items from my goals, I’ve started thinking in a bit more detail about the internet business but I need to devote a couple hours a day to plan the project out and do some additional research to see if its viable. This is a matter of time and I want to make sure I’ve got a rough plan in place by the end of the month.

My net worth on the other hand shouldn’t have any trouble increasing by $250 even from the time that I posted about my net worth mostly because I’m trying very hard to keep my cash flow balanced. Going through the cash flow exercise I’ve really come to realize that I should be increasing my net worth between $5-800 monthly without much effort. I guess time will tell about this goal but I’m very confident about it.

Finally applying the 80/20 rule – I’ve started looking at things much more critically and determining if I really need something or if it’s just something catching my attention. I’ve also started looking through all of the junk I’ve compiled in the den in an effort to eliminate as much as possible. I’m not there yet but the frame of mind is definitely improving in this respect.

Overall progress is definitely being made and with a little bit of perseverance I’ll achieve all of my goals this month.

[tags]monthly goals, goal update, cash flow, net worth[/tags]

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