The Frugal Shrink's 2014 Financial Goals

I love goal setting!!!  I set goals every January and evaluate progress around my birthday in June and at the end of the year.  Setting and completing goals is admittedly one of my strengths, and I tend to flounder and waste time without having clear, defined goals.  I completely bungled my 2013 goals, however- forgot I even made any as my main focus was adjusting and surviving in my new job.  I did manage to "accidentally" accomplish 2/8 goals.  Yikes!!  Normally I do a much better job at this.

Ah well- new year, new goals.  I have divided my goals this year into five categories: spiritual, work, health, financial, and lifestyle.  I'm going to share my financial goals and my lifestyle goals with you as some of those have to do with finances.

1) Finish car savings ($12,000 total, need $9800 to complete)- I am saving 100% of my side job income and any extra bits and bobs that I get from resale, consignment, or rebates.
2) When car savings is complete, begin working on emergency fund of 3 months worth of expenses- I will just use the car fund for any emergencies in the meantime.  This will be ~$8000 when complete, but I don't anticipate completing it this year.
3) Continue retirement savings of at least 10%- currently at 12%, I may reduce this to meet other goals.
4) Set up automatic savings from my regular paychecks- I am surprisingly terrible at this.  I do a great job of saving all extra monies, but it's time to get a savings plan going from my regular paychecks.  I'm starting small at $50 per paycheck and will adjust up as I feel comfortable.
5) Reduce household expenses- I have a pretty tight budget and there isn't a lot of fat here to cut, but it is a never-ending search to figure out new ways to save.

1) Practice sewing 1x per week- Ugh.  I hate practicing anything, but I am determined to get better at this and be able to make things for myself and others.  
2) Make more things, particularly presents- I'm already 70% done with a green and gray crocheted scarf.  Also thinking of making homemade vanilla, brooch necklaces, scarves made of knit material, and tote bags. 
3) Buy less of everything, and buy used whenever possible- This is a big goal for 2014.  I need to work on this.
4) Simplify grocery shopping- Why am I buying so much stuff at the grocery store???  Lately I haven't feel like cooking, so I'm just buying ingredients for good sandwiches and smoothies.
5) Reduce food waste- I feel like this will come naturally when #4 is in full swing.

Anyone else set goals for 2014??  I'd love to hear them.


Liz said…
Happy new year! posted my new year resolutions. I am going to work hard to accomplish them.
Van said…
I love those car and savings goals and have similar goals I want to hit! Love to see your lists and will be doing the same with trying to reduce spending and increase savings. Love the simplifying, reducing food waste, buy less goals too :D All good ones to make and ones I frequently aspire to.
chonaschaka said…
I sew and learned how to just by making stuff. No need to "practice" anything. Just make something you want or need. If it ends up being a dud you've still won because you've challenged yourself. The more things you make the better seamstress you'll become.
Danavee said…
Ohhhh! I have a lot of reading to do here! I've been MIA from blog-land lately!

My goal is to all things. Anywhere I can. SIMPLIFY.....streamline.......which means my hoarding tendencies need to GO!
Mama Squirrel said…
Dear Frugal Shrink,

I just discovered your blog, via the Abebooks community forum where your Dacyczyn interviews were mentioned. (Enjoyed those"). I am hosting this week's Festival of Frugality blog carnival, and wondered if I could include a link to your New Year's post,, or another if you'd prefer? If not, I certainly understand.

(The festival will be posted Tuesday. I'll check back before Monday night.)

In any case, thanks for some interesting reading!
Hi Mama Squirrel- thanks for stopping by! Yes, it is fine by me if you want to link that post. Thanks for asking! :)
Yarning Too said…
Just found your blog and am loving it, and will definitely be back.
A lot of your resolutions are similar to what I am wanting/ needing to do- financially and lifestyle wise. Thanks for the inspiration!

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