Tracy’s Financial Goals for 2011

For my first post I’d like to list some items I’d like to strive for this. year.

  1. Track my expenses in a meaningful way РI want to see where my money goes and see how my spending for specific categories change on a month by month basis as well as on a yearly basis. I hope this will show me where I can cut down on expenses and also allow me to see more clearly  how any cuts in spending will affect my monthly cashflow.
  2. Learn more about my 401k – I don’t think I can max out my contributions but I’d like to spend some time learning more about it such as what the max yearly contribution is, calculate how much more I’d need to contribute to max out my contribution amount, what is happening with my contributions, and figure out my portfolio makeup (in terms of stocks, companies, etc). Also, perhaps I can start attempting to learn how this money can be withdrawn after or before my retirement age. I currently have only a general idea on these topics and don’t feel confident in any of that knowledge. My goal is to change that.
  3. Buy life insurance – Sometime last year I was a victim (lightly put) of a hard sell for a life insurance policy by my bank. I had gone in for a money order to only leave one hour later with a large envelope listing out how much my policy will net me (well, not me … ). I had stubbornly refused and even felt bad because the guy who was pitching the sale to me was very nice about it and had tried to connect with me. He even claimed that he was one day older than me. I must say claim because I could hardly tell if he was. He did look my age but more than likely he was just trying to charm me into signing up (it almost worked – he wasn’t exactly bad looking either). Anyway, after that event I began having a strong desire to get life insurance but I had to refuse at the time because I was totally unprepared. Yet a year later, after ignoring his calls for a few weeks (I felt really bad! I did!), the envelope is still unread and I’m still just as clueless about life insurance.
  4. Start a finance blog – CHECK!

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