Ok, peer pressure....

I am feeling a strong pull toward setting my 2008 goals. I've never been good at this, and I think it's probably interesting to explore why that is-- fear of commitment? Fear of failing? Anyway, the reason why is for a different blog, but I am going to do it here. Mapgirl and Singlema are using the SMART method to set their goals. This is something that companies push all the time, and I have always seen it as another HR gimmick. But I have to admit that seeing MG and SM use this method makes sense and I can see why it can be a useful tool.

So here goes, SM and MG style:

1. Beef up Emergency Fund. Now that I'm on commission, it would be better to have more than the 2 months worth of living expenses that I have now.
Specific: Save another $9,000 in the emergency fund.
Measurable: Set up automatic deductions twice each month into the emergency fund.
Achievable: $9,000 divided by 24 equals $375. Set up deduction of $375 on the 5th and 20th every month.
Relevant: Yes, because having an extra $9,000 in the account would be smart financially.
Time-bound: With the automatic deductions, there will be an additional $9,000 in the EF account by the end of 2008.

2. Research and save for a class to take. I've been considering taking an economics class. I live in a place where there are many schools to choose from, it would be good for my job, and, frankly, I just enjoy this topic. I've been seriously considering it since June 2007, and I've already taken a few steps toward finding out more about what's out there. I just haven't taken the plunge and signed up for it.

Researching a class:
Specific: Find a suitable class. Economics is what I want; maybe it will count toward an MBA later if I decide to go that route?
Measurable: I will spend one hour every Wednesday dedicated toward taking a class. I am not sure what this entails exactly, but I need to dedicate the time to figure it out. I believe it will include internet research, talking with referrals, visiting campuses, etc.
Achievable: Not sure what I'm supposed to put here. It's something that I've been wanting to do; I need to dedicate time to figure it out and sign up for it, etc.
Relevant: It will make me feel like I am still growing as a person.
Time-bound: I will be attending a class Fall 2008.

Saving for class:
Specific: Save money for an economics class.
Measurable: I have no idea. This one will have to stay a little flexible, but for now I’ll say $2,000
Achievable: $2,000 divided by 16 (8 months, twice each month) is $125. Automatically taken on the 5th and 20th every month.
Relevant: Yes; I want to pay for the class before I take it (not on credit!)
Time-bound: Assuming the class starts in September, my automatic deductions will add up to $2,000 by the end of August.

Those are my SMART goals. Obviously I’m starting small! Other goals, not necessarily PF-related and in no particular order:
--Challenge myself physically with triathlons this year. I am confident that I can do this, especially the running and biking portions. Swimming is a challenge for me, so I started swimming lessons yesterday!
--Take advantage of the commission-based job and make enough money in the first part of the year so that I can take the rest of the year to travel and only work if I feel like it. I don’t feel like this is a SMART goal for this year, but I’ll keep it in the back of my mind and possibly set it for a 2009 goal.