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How to Accomplish Big Goals

How to accomplish big goals

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I am the first to admit that big goals can be scary. When you look at something all at once, it can be very intimidating.

Like, paying off $201k in student loans. That was a huge goal for me and very intimidating when I first started.

So, I didn’t think about that number at all.

As a matter of fact, I didn’t really consider my total number until recently. I only thought about my current debt I was working on paying off.

That was manageable to me. I couldn’t think about the massive goal, but I could focus on paying off chunks at a time. It made it easier and made me more motivated to start.

You can do this with any big goal that you have by following these steps.

1. Create your big goal.

Obviously, you need to have a goal you want to reach. I’m not talking about some small goal you have, those are important, but I’m talking big goals.

Like, reaching financial independence, or creating your own business.

These are big goals and will take time to reach. But, they can be done.

So, what are your big goals you want to accomplish?

I think it’s super important to have big goals. It gives our everyday a purpose. Yes, I’m serious when I say everyday because everyday we are working towards our goals in small ways.

2. Think of smaller goals to get to that goal.

Every big goal has many small goal parts in order to reach them. Reaching financial independence would be having an emergency fund, paying off all debt, contributing to retirement accounts, etc. To me, it means living a life on my terms, not because I need enough money to pay my bills.

These are still big goals, but they’re smaller than the large goal of reaching financial independence.

For my big goal of paying off my student loans, I broke it down by each of my individual student loans.

This allowed me to experience some wins throughout my payoff.

3. Create monthly and weekly goals to reach the smaller goals.

Goals can be reached with consistent habits done over and over again. It may seem like a hefty goal, but by consistently repeating a good habit, you will reach your goal.

For a financial independence goal, I am currently focusing on paying off my debt. My monthly goal is to apply $1,000 extra to my student loans every month, or more. My weekly goal is to stay within budget and work my side hustles to increase my income.

It might not seem like much at the time to make $50 from a side hustle, but when this is done consistently, that income grows. $50 every week turns into $200/month and $1,200/year!

Remember, small, good habits done consistently over a long period of time accomplish goals.

4. Track everything.

I’m a huge lover of all kinds of trackers. I love data and love to see my progression towards a goal.

Personally, I track a lot of different numbers in my current goal of paying off my student loans and my bigger goal of financial independence. Have ways to track progress for both!

I track my debt payments and progress on a chart and in undebt.it and I track my net worth in my Mint app. Now, I have to admit. When I first started, tracking my net worth was seriously depressing.

I was SO far in the negatives, it made me want to give up. So, I stopped tracking it for awhile. It wasn’t worth it.

Now, I am getting closer to a positive net worth and I am motivated once again by seeing my net worth.

If something isn’t helping you to reach your goals, stop doing it. It’s not worth it.

Break down big goals into smaller ones.

The key is to break down those big goals into smaller ones that you feel confident you can accomplish. Once you have smaller goals, figure out what you need to do weekly and monthly to reach them.

Eventually your smaller goals will help you reach your big goals.

Financial independence is so important to me. But, when I started my journey, I knew it would be a long way off. When you have $201k in student loans as a teacher, it’s going to take some time to just become debt free.

But, I’m slowly getting there and now my momentum is moving fast. Don’t get intimidated by your big goals, break them down and start reaching them.

You can reach your big goals, you just haven’t broken them into manageable parts yet. How do you accomplish your big goals? 

Financial Freedom

How Millennials Can Be Millionaires

How Millennials Can Be Millionaires

This post may contain affiliate links. Check out my Disclosure Policy for more information.

Millennials tend to have the reputation of ruining things. You see the articles all the time of the newest trend we have ruined in our society. The reality is that millennials seem to be breaking free of what is typical.

This is how I think about a lot of my own personal finances and others that I have helped. You need to create your own path to prepare for your future. The only person that can do that is you.

This goes for everything in life and I know I am walking a different path then most of my millennial peers, but I encourage you to do the same.

This is especially true for planning for your future and the possibility of being a millionaire. The reality is that millennials are at the perfect stage to become a millionaire.

Now, I get it. I’m sure a lot of you are drowning in the mistakes of your past. I know I am, but I have a plan to get out of it. And so can you, if you take the time to plan for your present life and your future life in retirement.

I just recently finished reading Everyday Millionaire by Chris Hogan. If you haven’t read it, you need to find a copy right now and start reading. I got mine from the library after being on the wait list for weeks. As a millennial, you have some amazing advantages on your side to becoming a millionaire, especially if you’re a 20-something.

Wouldn’t it be nice to add to the list of things millennials ruined as the generation to broke free of financial hardship and had the highest number of millionaires. It’s possible and here’s why.

1. Becoming a millionaire takes time, something millennials have a lot of.

I’m not saying you need to be busting your butt working all hours and investing your time into working. I mean you have many years on your side to becoming a millionaire. Millionaires aren’t created quickly usually, they usually are created slowly and after many, many years of careful planning.

The reason why it takes many, many years is because you are benefitting from the beautiful thing of compounding interest. This means that your interest is earning interest for you. This also means that the more time you have money sitting in your investment accounts, the less money you actually have to put in.

2. Millennials have been known for loving their work, making it easier to be a millionaire.

It only makes sense, if you love what you do, you’re more likely to continue working. Millennials have been known for doing work they enjoy, rather than chasing a higher salary for work they hate. Most people would consider this crazy, more money makes your life easier.

Your income doesn’t matter. What does matter is that you have the passion and drive to get up and go to your job every single day. That is much easier to do when you love your work.

When you enjoy your work, a lot of aspects of your life improve. This is important in order to become a millionaire. If you work solely because you love your work, not because you need to, your potential is endless.

3. A lot of millennials are living on tight budgets.

The reality is that a lot of millennials are living on little right now. If you’re like me, you have massive student loans and your starting salary isn’t great. Yeah, if I could go back in time, I probably would have not taken out this much debt, but I didn’t know any better at 18.

Looking at the bright side, living on a tight budget has taught me lessons to last me a life time. It has taught me how to be frugal and how to enjoy life while living on less. What prevents so many people from becoming a millionaire is lifestyle creep. More income, more expenses.

This doesn’t have to be the case. If you continue to live on a budget each month, of course less tight as your cash flow frees up, you will become a millionaire. Slow and steady with good money choices will lead you to that big money goal. Any one can do, most people just aren’t willing to make the right moves to do so.

Millennials will be millionaires.

I really do believe this. Millennials have everything in their favor to becoming millionaires, it just depends on if you’re willing to make those moves you need to make to become one. My ebook outlines how us 20-somethings can master our finances and set us up to be millionaires. How are you preparing to be a millionaire? 

Financial Freedom

How to Manage Your Time

How to Manage Your Time

Time management is something that I struggled with for awhile, especially when I have a lot to do. It can be really easy to get overwhelmed by everything and just do nothing. Sometimes that just isn’t an option and we need to get things done.

Now that I am a teacher, blogger, and work multiple other side jobs, it requires me to manage my time very well. If I don’t, nothing would get done and I’d suffer in other aspects of my life. For example, if I don’t plan to meal prep for the week, I can guarantee you I’m eating Ramen noodles for dinner.

In order to make everything work nicely in my life, I have to manage my time and I do this in a few different ways.

1. Write out everything you need to get done with your time.

I am terrible at remembering things, absolutely terrible. If I don’t have everything listed out somewhere, it isn’t getting done and definitely is getting forgotten. I know this about myself though and that’s why I have everything written out. By seeing everything in one place, I am able to see the tasks that I need to complete. This then can be used to manage your time.

2. Block out your time.

Once I have my list that needs to get done, I am able to block out my time to complete these tasks. This doesn’t need to be anything fancy, find what works for you. Some people like to have written lists with time assigned to each task. Other people love to time block using Google Calendar, I do love doing this for my appointments and side jobs. I prefer to have a note in my phone with the time I plan to work on that specific task.

I typically do this for unscheduled time, like the weekend. I tend to let the weekend slip by, if I don’t plan it out. The reason I like to make a list in my notes on my phone is because I can check it off as it is completed, can easily add tasks, and can easily adjust my schedule. Also, this allows me to easily see everything I have accomplished over the weekend by Sunday night.

3. Prioritize your tasks.

Like I said before, I need to write everything down, or I forget to complete things. So, I always have multiple lists going for different things. For example, I have daily, weekly, monthly, and yearly tasks that I list out. This helps me with completion, but also with budgeting because I can plan out oil changes, car registration, etc. and have the funds saved for these things.

By prioritizing tasks, it becomes more manageable. Instead of seeing all of the tasks, you can focus on the most important tasks that need to get done that day. Once your daily tasks are done, you can move on to other things that aren’t as much of a priority.

4. Make sure it’s manageable.

I am definitely one to create a to do list that is totally unrealistic and then things just don’t get done. Make sure you know what is manageable for you, be realistic with yourself. It’s not going to help you accomplish anything if you put unrealistic things on your list.

For example, I had on my weekend list to declutter my room. Do you think I ever did it? NOPE. It was too large of a task for me, so it just never got done. Instead I put on my weekend list to declutter my dresser and I was able to accomplish that. Then I did my bathroom because I was feeling motivated and wanted to with my extra time.

Breaking larger tasks into smaller tasks is a great way to accomplish things more efficiently. You’re also much more likely to accomplish it because you are much more motivated once tasks start getting completed.

You need to find a strategy that works for you.

Ultimately it comes down to what works for you. These are some strategies that I have found to work for me and hopefully can help you manage your time better. We all know that accomplish big money goals require some serious time management, especially if you’re working side jobsHow do you manage your time?

Financial Freedom

Why I’m Choosing FIRE

Why I'm Choosing FIRE

I’ve been on my debt free journey for 3 years now and honestly, it’s taking a toll on me. I’m ready to be done with it and moving on to bigger goals. I’m excited to have my debt paid off, but I’m so ready to actually keep my money!

This journey is definitely hard, seeing all of my money going to debt is rewarding, but it still kills me to see all the money that goes to interest. I can’t wait for the day when interest is something that only makes me money, not costs me it.

Seeing my debts go down and the interest lower definitely is rewarding, but what has really kept me motivated lately is what’s to come once this debt is paid off. I’ve been doing a lot of research and I can’t wait to put my plan to action.

What is FIRE?

FIRE means Financially Independent, Retire Early and it’s a movement that I totally can get behind. It basically means that you live a life of financial independence, not controlled by money. Most people that support this movement don’t actually retire early, but they do work that they enjoy because they don’t need the money that comes from the work that they do. FIRE allows people to live the life they imagine for themselves because they are not tied down by money.

Why I’m choosing FIRE.

I’m still drowning in student loan debt, $97k to be exact, but I’m also still investing and saving money every single month. It’s not a ton, but it’s something. The reason I do this is because compound interest is on my side right now as a 20-something. I also know that I want something more for myself than just going to a job I hate everyday, so I’m starting to plan for my future now.

This is exactly why I’m choosing FIRE. I don’t plan on actually retiring early, but I do plan on doing work that brings me joy and doesn’t require me to need a certain salary to live. Everything I do is leading me to achieve FIRE, so that I can live a life that I choose, instead of one that is ruled by money.

How I will reach FIRE.

This is the part that makes me so motivated to pay off my student loans. My first step to reaching FIRE is paying off all of my student loan debt. This is a long road, which is why I am investing a small amount every month still. Throughout paying off my debt, I am budgeting every month and have found the things that I truly value. By finding what I value in my budget, it has allowed me to drastically cut my unnecessary spending.

This will be key in the road to FIRE because it allows me to have low expenses each month by living an intentional life. Once my debt is paid off, I will move my focus to saving and investing my money. By doing this, I will be able to live the life I want to live, instead of one that revolves around payments.

Choosing FIRE.

In the end, it all depends on what you want from your life. I personally want a life where I can do whatever work that brings me joy, or choose to do volunteer work. With my current finances, neither is an easy option for me. By attaining FIRE, I can do the things that I choose to do. Is FIRE something you hope to reach? How do you plan on reaching it?

Financial Freedom

Change Your Money Mindset

Money Mindset

We focus a lot on the logistics of tackling our money goals. How much debt, how much saved, what’s the game plan to tackle this as fast as possible?

But, there is one step that seems to be overlooked and it is arguably the most important step to make long term changes.

We can fuss about the plan and the numbers all day long, but if we have the same money mindset and habits, those won’t really matter.

Initial Money Mindset

A lot of people that are working towards financial freedom start with similar mindsets around money. They most likely feel like they have no control over their money and don’t know how to make it work for them.

They usually fall into the cheap mindset because they are in a never ending cycle of scarcity. You don’t have the tools you need to help yourself out of this mindset.

You are constantly thinking about what you can’t do or can’t afford because you don’t think you have the money to.

Usually, you are only thinking about day to day, week to week, month to month. You don’t have any long term money goals because your money has the power currently.

An example of this is being anxious about making it to pay day because you don’t know if you will have enough money to get you there.

Money Mindset Change

As you begin and move through your journey to financial freedom it’s important to do the work. Don’t try to skip steps by taking short cuts.

Sit down and track your transactions, make your budget (get my free templates by subscribing to my newsletter) and see where your money is going each month. If you try to skip doing the work, you’re not changing your habits and you’re not gaining the power over your money.

Take control of your finances and tell your money where you want it to go by using a budget. Once you have this power, you start thinking about money differently.

You no longer think, “I can’t afford this,” but, “How can I afford this?” You have control over your money and you tell it where to go.

You’ll notice that you no longer think about pay day as much because you know where your money is, where your money is going, and where it will go once pay day arrives. The anxiety around money has been lifted.

An Abundance Money Mindset

Once you have moved to an abundance mindset, you will find that you feel complete control over your money. Money turns into a tool, instead of something that causes fear, stress, and anxiety.

Taking the time to work through the hard parts is so important to changing your own money mindset. Without changing your habits and your mindset, you will be stuck in the same place you always were.

Financial Freedom

Being Cheap vs. Being Frugal

Being Cheap vs. Being Frugal

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There is a huge difference between being cheap, and being frugal. These two words get used interchangeably, when they really are completely different. Yes, there are some things that will cross lines, but for the most part they are very different.

Being Cheap

Cheap means that you never spend any money and watch your money very closely. When you are cheap you spend the least amount of money.

When shopping, you simply are looking for the cheapest cost. When in reality there are many other pieces in play when determining “cost.”

Being cheap is usually driven from a place of scarcity or necessity. You don’t feel in control of your money, so you feel you must hold onto it.

Being Frugal

Being frugal comes from a place of abundance. You have power over your money and know exactly where it is going.

Instead of thinking solely about price, you take into consideration multiple value points. You think about cost, you think about how it helps others, you think about how long it will last.

These are just a few points, but you get the idea. Being frugal is being wise with your money and consciously choosing to be frugal with it.

Being Frugal vs. Being Cheap

An example of the difference between being cheap vs. being frugal that I experienced was bringing water to work. I would buy the cheapest water bottles I could find to refill when I was on the go in graduate school.

I was busy. I worked 8-3 and then had class from 4-7 every single day. I was working full time and attending school full time and making a measly $1,000/month on average.

What I found was that I was needing to buy new ones regularly because they were constantly breaking. I was living in a scarcity mindset because I didn’t have any extra cash each month.

Once I graduated, got my teaching job, and got my finances in order, I was able to move towards an abundance mindset. I no longer needed to live in this scarcity area.

I was able to see the other value points once I moved to an abundance mindset. My low cost water bottles I realized didn’t have much value because they were constantly breaking.

I took this into consideration, along with that they were always made from plastic, and researched higher value water bottles. Now, I’ve had mine for 3 years and it has dents and scratches, but it still serves the purpose of holding water.

This is just one example, but it serves as a reminder that there is a difference between being cheap and being frugal. It is all about the mindset you are currently living from. What are your thoughts about being cheap vs. being frugal?