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February 2011 Financial Goals

February 1, 2011

This may be new, and a little unexpected but welcome to my first official financial post! Finance is a topic I’ve had my mind on discussing for quite some time on my blog, and I’m finally putting actions behind it. It can be a little scary to talk about personal finances on the internet, but I am doing so on my blog because I want to clearly outline my financial goals, and write about my successes and even failures. I got really inspired by reading many different financial blogs, and I’m discussing my finances because I see frugal finances is not something I see talked about in our culture. In fact, I feel it’s the opposite. There is current inundation to spend, buy this, and get that. Above all, for me, it’s freeing to have my financial profile out. I want others to come along with me as I work smart to build a strong financial life. I also have this little thing called age on my side. Although I just turned 23, I’m young enough to have the investing power of compounding on my side but old enough to not want to waste time making any more mistakes. Even though I’m in my early twenty’s, I’m thinking about my future and what kind of life I want to continue living. I want to make my money work for me.

With that, each month I will list my financial goals for that particular month. At the end of the month, I will compare what actually happened to what I projected and discuss any discrepancies. I encourage everyone to make their own monthly budget/goal sheet! Please feel free to do the same and use this example as a reference.



  • Cell Phone- just by looking at the table my cell phone bill seems reasonably high. Working on figuring out how I can get a lower rate.
  • Personal & Hair Care- No allocation needed because I’m planning on using all my face wash and moisturizers, as well as hair care products.
  • Transportation No allocation for transportation because since I am taking a few classes, I’m able to purchase a pass with unlimited rides for the semester. It’s already been paid for in my tuition and will last until 6/1/2011…pretty nice huh.

February Goals:

  • $100 into Retirement Portfolio. My employer currently makes contributions to my retirement annuity contract on my behalf. I’m going to take advantage of the pre-tax (tax deferred) annuity option as $50 each pay period will now go straight from my paycheck to an investment account, reducing my current income taxes.
  • $400 into Emergency Fund
  • $312.50 into Travel/Computer Fund
  • Establish online business.
  • Work out 4-5x/week.
  • Finalize March travel plans- I’m looking to travel to D.C. for one of my best friend’s bday. I need to confirm dates and book flight tickets ASAP.
  • Make weekly food plan. I eat based on what I’m feeling at the moment, but having an outline will help me stay on target when deciding what I want to eat. Using a meal plan when shopping means I can only choose from what I have available rather than going to the store for ingredients for a certain craving.
  • Read one book for fun

Ongoing 2011 Annual Goals:

  • No buying lunch, snacks or coffee during the work week
  • No buying clothing, shoes or accessories until June 1st, 2011
  • Try to make a difference in the life of one person. A significant difference

♥ Chinye

5 Comments leave one →
  1. February 1, 2011 2:10 pm

    $50 on groceries! Um, where do you shop? I love your budget. It’s amazing! FYI!!!!

    • February 1, 2011 10:10 pm

      Not going to is tough! I get my produce at a local produce coop/international produce shop (always cheaper than a Jewel/Pathmark) and get some staples like oatmeal, rice, milk from select whole foods. When I do shop at WF, I always go for the bulk section or the 365 brand. I NEVER buy veggies from Whole Foods unless on sale. I know some people only go to WF for veggies and fruits but to me, they are really overpriced and not worth it. I’m more so about eating less processed foods versus strictly sticking to organic. An apple is better than no apple at all, but that is another post!

      • February 3, 2011 2:19 pm

        My grocery bill is better in the spring/summer/fall when I participate in my local CSA. Pretty much all my veggies, fruits and grains come from there. I need to find a year round CSA! The main thing in my diet is veggies. I mean, I’d eat an onion whole, left to my own devices. Because I use so many veggies, I try to only get organic ones and that racks my bill up. UGH, can’t wait for my CSA to start again!


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