Thursday, April 20, 2006

Net worth

I'm excited to report that I've been given a lucrative job offer, which I'm going to take. It's a short-term contract (aren't they all?) but it means I won't have to move away, for the time being. Since I'll be staying where I am now at least until September and the money's good, my frugal lifestyle should make my expenses stay pretty low, so I really want to start rocket-powering my net worth. I want to build an umbrella for when it starts to rain. And in my industry - print journalism - when it rains it pours.

I haven't completely crunched the numbers just yet, but I suspect that my net worth at the moment is something around $11K or $12K. The summer is coming, fun times with friends will be had, but I'm determined not to blow all my money. So my goal (and I want you guys to hold me to it, come September) is to have $20,000 saved or invested by the end of September, 2006.

In personal finance as in life, I've found the best way to get where you want to be is to take baby steps in the right direction, not giant leaps to the finish line. So while you're holding me to account, set yourselves some goals as well, and try to take positive steps in your life this summer. You don't have to swing for the fences. A couple of singles one after the other will do.

$20K. $8,000 saved in four months. That's peanuts to some people, but I'll be impressed if I can get there. Heck, I'll probably be impressed with myself if I can even get halfway there.


Canadian Capitalist said...

GIV: Its setting goals and striving to achieve them that matter. I personally think your $8K goal is impressive. Good luck!

Yuna said...

I don't think saving 8K in 4 months is peanuts for anybody.. That's 2K every month after deducting tax!! Unless you make 6 figures, drives a Honda and no babies... that's a huge amount!