I have lots of goals. To get out of debt, to live more frugally, to use my resources wisely….and the list goes on. My problem with meeting these goals is often motivation.
When I first heard about the contest at Cash Money Life, I really wanted to come up with a spectacular goal, like getting out of debt completely in 2008. Unfortunately, life got in the way, and I can’t set a goal like that. Without a regular income right now, I have no way to set a concrete plan to meet that goal.
I also wanted a goal that would take all year to meet. I’m pretty good at setting small goals, like “cut my grocery budget by 10% this month.” I’m not really good at setting and meeting long-term goals.
Taking all of these things into consideration, I’ve decided that my 2008 financial goal will be to read one personal finance book every month for the year. Reading about smart money management will keep me motivated to stay on track in my quest to reduce debt and live a more frugal lifestyle.
I’m not completely sure which books I’ll read yet, but I think I’ll start out with Your Money or Your Life
Trent at The Simple Dollar also recently published the list of books he read over the last year, so I’ll peruse that list and pick the books that sound interesting to me.
So there you have it. My goal for 2008 is to read 12 personal finance books in 12 months. And of course I will share what I learn with you, my readers!
So what is your financial goal for 2008? And I know you’re dying to know how to win that iPod. So here’s the deal.
Patrick at Cash Money Life is giving away a 4 GB iPod Nano and 3 books on Financial Planning. Share your financial goal on your blog (or in the comments on his site if you don’t have a blog) to win. Also, to be entered in the contest for the books, subscribe to his feed. Don’t worry. He’s got a great blog. Once you subscribe, you’ll wonder why you didn’t subscribe before!
Head over to Cash Money Life to read all of the rules for the contest!
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November 27th, 2007 at 6:59 am
Excellent goal! Thanks for sharing my contest with your readers, and good luck!
November 27th, 2007 at 8:50 am
Hi,
I’ve been reading “Your Money Map” by Howard Dayton. It’s really good. I’ve also read great reviews on “Your Money or Your Life”. I think I’ll try to read it this coming year too. Who’s better– Amazon or Half-com on used book prices?
Thanks,
Michelle
November 27th, 2007 at 11:15 am
That’s a great goal, I might have to borrow it for myself!
November 27th, 2007 at 11:16 am
@Michelle - Most of the time I find better prices at Amazon, but it never hurts to check half.com, too.
November 27th, 2007 at 12:23 pm
That sounds like a good one!
I love Trent’s list, it helps me pick some of my pf reading–though I’ve also read books before he got to them.
November 27th, 2007 at 2:06 pm
I read YMOYL years ago when it first came out, and it was really good. I’d like to pick it up again and see what else I can improve. I believe there is a YMOYL website with forums from people who are learning to use and who are using the system successfully. The only criticism I’ve heard is that there is a focus on saving money by having fewer (or no)children, which doesn’t sit well with frugal families who have many children.
Dave Ramsey also gets a fair amount of praise for his debt elimination system-his is another one I’m going to check out.
November 27th, 2007 at 2:39 pm
I’m definitely going to give one of Dave’s books another read, too. Dave Ramsey is always good for motivation. I think I’ve read most of his stuff already, though.
March 21st, 2008 at 9:22 am
my goal is just to compleatly get out of dept!
April 27th, 2008 at 4:43 am
I have the same problem with motivation and with the fact that my income is not regular. But you seem to have a good idea to start reading financial books. I will do that to.