The Home Place: No Regrets?

I don’t know where I first heard the saying, “The greatest regret in life comes from trading what you want most for what you want at the moment,” but I’ve carried it around in my mind ever since. I’ve also carried it on a little card clipped to my checkbook register. Sometimes our “live in the moment” culture temps me to lose sight of long-term goals. The card on my wallet helps me keep focused as I pay bills, make purchases and work toward my savings goals. It reminds me that the expensive pair of jeans I want to buy now can diminish my ability to reach my more important, although less immediate, goals.

Speaking of goals, what goals do you have? Have you written them out? If you are not in the routine of writing down your financial goals, you can start small. Perhaps you could write down one or two goals for larger purchases you want to make this year, or an amount you want to put into savings each month. As you get more accustomed to writing out your financial goals, you might want to break them into categories: short-term, medium-term and long-term. You can use a chart and estimate the dollar amount needed to pay for some of these goals. Try not to get overwhelmed, or discouraged, when you see the totals. Be sure to keep the written goals in a place where you can refer to them occasionally. About five years ago, my husband and I started taking time around New Years to write down our financial goals and review the accomplishments from the previous year. The process helps both of us stay on track and work together toward a mutually determined outcome. It is surprising to me how many of the goals we’ve actually been able to reach. On a day-to-day basis it may not seem like we are making that much progress, and I can tend to dwell on the set-backs (such as the added cost of repairing the house after hail and wind storms). But at the end of the year, we have often made more progress than we realized, and even a little success is enough to keep a person dedicated to his or her goals.

You can always visit the AmericaSaves or MontanaSaves websites to learn more about setting financial goals. There are many other good resources on their sites. There are even tips on how to save on a tight budget. Take a little time to explore and check out other resources available on money management. Research suggests that the more time we spend studying about finances, the better we do at managing our money. So take a little time in this moment to focus on your financial goals. It may help you get what you want most in your future.

Resources:

Thanks to Susan S. Shockey Ph.D., CFCS, CPFFE, USDA/NIFA Family & Consumer Economics, National Program Leader, Division of Family and Consumer Sciences, for sharing the resources below:

America Saves Week is February 24 – March 1.

Check out resources at http://americasaves.org/ and “54 Ways to Save” at http://americasaves.org/for-savers/make-a-plan-how-to-save-money/54-ways-to-save-money

America Saves Opportunities provided nationwide by USDA/NIFA’s Cooperative Extension System.

The 2014 America Saves on-line Financial Challenge begins America Saves Week on February 23rd. It is a free five-week program that runs through Saturday, March 29, 2014. To enroll, visit the Rutgers Cooperative Extension Small Steps to Health and Wealth™ Challenge Web site at http://rutgers.ancc.net/. Enroll in the Challenge titled “2014 America Saves Challenge”. Registration: http://goo.gl/Lsqb7A; For more information: http://goo.gl/dDooq6
Join “America Saves Twitter Chats” offered by the eXtension.org “Financial Security for All” Community of Practice and are hosted by Dr. Barbara O’Neill. The last one is Monday – February 24^th. Follow the Twitter Chats with #eXASchat

The four “Saving Money” themes for this year are:

- February 3 “Guidelines, Obstacles, and Motivators”

- February 10 “Strategies, Cash Flow, and Role Models”

- February 17 “Reasons, Resources, and Success Stories”

- February 24 “Goals, Automation, and Becoming an Investor”

Outcomes for the first two Twitter chats that have already been held, as reported by TweetReach, indicated the following outreach metrics: over 30 participants and over 6,000 Twitter accounts reached with over 50,000 impressions.

Six animated videos are available via YouTube for use in financial education programs and social media messages. The video titles are: 1) Saving Money with America Saves, 2) Saving Money on a Tight Budget, 3) Set a Goal, 4) Make a Plan, and 5) Save Automatically, and 6) The America Saves Challenge

- These videos can be viewed on “Money Smart Week Website” available here: http://www.moneysmartweekpartners.org/usda

Webinars will be held throughout Saves Week. The University of Florida will host two FREE WEBINARS!! Participate from your office, home or web-enabled device.

February 24 How to Save $500—quick, easy steps! http://bit.ly/Save500dollars
February 26 Women & Money: Unique Issues http://bit.ly/WomenMoney
February 27 Saving Money: Research Insights is https://learn.extension.org/events/1442
Archived Savings webinar “Saving Strategies for Non-savers” 148 people attended. https://learn.extension.org/events/1426

Background:

The United States Department of Agriculture/NIFA (National Institute of Food and Agriculture) Cooperative Extension System is a consortium of U.S. Land-grant Colleges and Universities that offers educational programs in all states and territories, reaching individuals and families in over 3,000 counties. Throughout the nation, Cooperative Extension educators are delivering programs to actively engage Americans to heed the America Saves Week theme: “Set a Goal. Make a Plan. Save Automatically.”

2013 Impacts:

In 2013 Cooperative Extension America Saves programs reached 358,160 people with 6,033 people setting a savings goal, pledging to save $367,956 dollars.

More resources:

Here is a list of books you might want to read on money management:

· Downsize Your Debt

· The Automatic Millionaire

· The Millionaire Next Door

· The Tipping Point

· Who Moved My Cheese

· Changing for Good

Wait, there’s more …

Thanks to Marsha Goetting and Joel Shumacher, MSU Extension Specialists, for providing this list of websites: