Pragmatic Finance

After much thinking I’ve decided to make a financial goal for the summer. I already fully funded my Roth IRA for the year, which was one of my earlier goals. Because of playing the 0% balance transfer game I figure that trying to increase my savings wouldn’t be that logical. So I needed to look at another way to quantify how I was doing at managing my money.

I’ve decided to try to increase my net worth from ~4k in June to 9k some time in September. During this school year my net worth will probably decrease so I decided this would be a good goal to achieve by the time arrive back home from my internship. I know about how much I will be paid this summer and what other income I should receive. So in reality, achieving this goal is really about minimizing expenses. Of course, any unforseen expenses or income received could throw off my calculations. Looking over the numbers it looks like it will be pretty tough for me to reach this goal. I wanted it to be fairly difficult, however, so that I will have to try hard to accomplish it. If nothing else, it will provide a rationalization I can use when I am considering making a purchase I don’t need.

I also decided to also post it at the No Credit Needed Network. This is a nice little site where members post their goals and NCN makes a nice little pie chart and listing to tell all the details. If you have a financial goal you should join up too. Some people have even posted some non-finance related goals, such as losing weight. I am thinking of making a listing for that myself. My goal of growing my networth is now posted so you can keep track of it there too. All in all I think having this out in the open will at least make me more accountable to following through with it.