#210: 52 Ways to Improve Your Financial Health (Friday, January 7)

So here we are. Seven days into a new year and until last night, I hadn't really decided what this year's theme for Good Friday was going to be. I kind of feel like, we've done so much; In 2007, we explored 52 ways to make a difference, in 2008 our theme was "Enjoy Life", in 2009 Good Friday went green and we just finished a year of profiling some of the people around me who inspire me to be excellent.

So where do I go from here? In the past month I've gotten so many questions from friends about finances so the natural progression seemed to be to go in that direction. So here I am. I'm not an expert; I do have licenses and certifications that say if I wanted to, I could start advising people on investing, help them develop investment portfolios or sell them insurance. My job is to write about investment products in terms that the everyday person can understand. And I have been teaching financial education workshops for the past three years. But I wouldn't say I'm an expert.

So are you with me? Do you want to improve your financial health in 2011? Let's do it together...

The Idea: Develop three financial goals for 2011. Only three. Don't go overboard. Your goals should fit into the following three categories:

1. The first goal should be one that you can SUCCESSFULLY accomplish in the next six months (e.g. paying off an outstanding debt, creating an emergency fund, saving for a moderate purchase such as a car, changing your spending habits)
2. The second goal should be one that will take a little longer, but you can SUCCESSFULLY accomplish it between June and December 2011.
   
3. The third goal should be a long-term goal that will take you into 2011. (e.g. buying a house, paying off your student loan, starting a business)

When you have decided on these goals, write them down in the form of a pledge with completion dates and post them somewhere where you'll see them everyday (bathroom mirror, use them as your computer screensaver, etc.). Here are some examples:

"I WILL save 6 months of living expenses by June 7, 2011."
"I WILL pay off at least one credit card by December 7, 2011."

Time required: 10-20 minutes

There, don't you feel healthier already?