This quarter, I have a few very specific goals to accomplish by March 31st. For me, it makes more sense to have smaller, achievable goals that I can stick with in smaller increments of time. One of my goals is to save an additional $600 this quarter. Using Jeff Rose’s 52-week challenge, where each week you save $1, then $2 and so on until you are at week 52 saving $52 for the week works for me…but in reverse.
Instead of starting off with the easier method saving one-dollar the first week, I deposited $52 the last week of December/first week of January. Last week, I made my $51 deposit and this week I’ll deposit $50. It’s harder up front, but gets easier as time marches on. Just like many people with resolutions to save money, lose weight, or spend more time doing something, you start off like gang-busters, but then slowly peter out as the year progresses. The 52-week challenge in reverse sort of fits this mindset – start off strong, then slack off as the weeks go by, yet still meet your end goal.
Now, I’m not saying that this is the best strategy – it’s just a better strategy for me. Some may argue that by starting off saving smaller increments and slowly increasing those amounts weekly might increase the stick-to-it-ness that I’m obviously lacking. Yet the goal is still the same – boost my savings this quarter by $600.
On top of this weekly challenge, I’m also continuing to automatically deposit money into my savings accounts and mutual fund. This quarter I should be able to increase my mutual fund monthly deposit by $200, but that will be one of my second quarter goals.
Quarterly goal achievement so far:
- Pay off $3,000 in credit card debt. Minimal progress so far, but this should be accomplished before March 31st.
- Save an additional $600 this quarter. On track.
- Shred 3-days a week. On track. I’ll have to post photos soon, it really does work!
- Publish my ebook. On track. Promotion will begin before the month’s end.
I feel pretty confident in attaining my goals this year so far. I think this strategy will work for me.
How will you tackle your goals this year?