MY MID-2023 MONEY RESET

I can’t decide if I’m mad or glad about not spending any money for tax free weekend? I was really tempted to get a jump on fall shopping but I resisted, y’all. I didn’t have anything specific that I just absolutely wanted or needed so it just felt like too much of an impulse push. I decided I’d rather just wait and pay the tax later on things I actually want versus buying random things to save a little. 

I also decided now is the perfect time for a little money reset. I’ve been very lax with my spending over the last few months and with fall and the holidays approaching, I’m trying to get it together. I’ve never been an extreme budgeter but having a money plan + knowing where it goes is always helps me feel more organized and in control. I also keep being constantly reminded of the rising costs of inflation on everything nowadays, THANK YOU TIKTOK. We’ve all seen it first hand but the constant reminders just seem to make it feel even worse! I will be fine and then after a video or two, I find myself slipping down the doom and gloom spiral which is not a good place, ya'll. 

Ultimately I know that doesn’t get me anywhere except anxious, stressed and feeling out of control. Because I can’t change what’s happening in the world, I'm choosing to focus on the positive things I do have and on making changes in place I can control. Here are some of the things I'm choosing to do + some goals I have to get reorganized and back on track. 

MONEY RESET + GOALS

+TRACK SPENDING - Whenever I feel disorganized with money, it's usually because I'm just spending blindly. I'm just swiping my card without keeping track of where my money is going or how much is going out. I have a pretty good idea of what is "okay" for me spend without getting too out of control (lol), but I'm definitely a lot less disciplined and intentional. I think it's been over a year since I've actually tracked what I've spent monthly so that's my first order of business. It'll be nice to assess any areas I should cut back on (always food, lol) and maybe where I can spend more. 

+BE MORE MINDFUL - Alongside of that is just being more mindful of my spending. I don't plan on being too restrictive, just more thoughtful with my purchases. It's easy to impulse buy at times, however I ultimately feel more excited by spending on things I love + really want. I also love the fall time + holiday seasons so I would rather put my money towards that.

+CLEAR OUT & SELL OLD ITEMS - Decluttering is always a good idea, especially if you can earn a little bit of your money back! I'm not the best at doing this so I'm adding it as one of my goals. Maybe I should find something to save up for that I could use as motivation? I like the idea of selling X amount of items or making a certain dollar amount that I could then use towards something new. 

+OPEN MONEY MARKET ACCOUNT - I'm a big fan of having a high-yield savings account, especially right now. Most are paying 4-5% interest right now which makes them a great way to earn money on any savings you might have. I use Ally and recently noticed their money market accounts are earning even more than the HYSA rate right now. Because they don't charge any fees or minimums, I think I'm going to add a MMA to my account to earn that little bit of extra $$$.

+ACTIVELY INVEST - For the past several years, I've always said that I wanted to boost my investments outside of my retirement account. I have dabbled a little bit here and there, however I've never been that disciplined with doing so. Retirement is staying as my top priority, however I want to get better about trying to invest more if I have any extra $$$ to allocate. 

+ABUNDANCE MINDSET - Back to the "doom and gloom" conversation, I want to keep myself in a positive, abundant mindset. This one can be really hard if you're struggling financially or just feel stuck in life. I totally get it- the world we live in now just feels hard sometimes and most of us can probably agree that we thought we'd be at a different place in life right now. I know I have and if you aren't careful, you can stay discouraged and stuck on the negative.  I do believe you get what you give and that being positive and having an abundant mindset (both with money and life in general) is super important. This is also another reason why I try not to be *too* strict with budgeting. It's important to be smart and a good steward with your money, however in my experience being too restrictive or uptight can lead to a scarcity mindset. I also think even if times are tough, you're more likely to make a positive change with an abundant mindset than with one of scarcity or lack. 

Starting with those! Do you have any money goals right now? 

2022 MONEY GOALS + RESOLUTIONS

The start of a new year is the perfect time to reflect on your finances, spending habits and money goals. Whether you consider yourself money savvy or needing some TLC, it's never too late to turn over a new leaf and start making positive changes. I've been going over any progress or setbacks I had last year when it comes to my financial situation + what goals I hope to accomplish this year. I've rounded up my top priorities going into this year that I hope will keep me on the right track. Also a quick PSA-- I'm by no means a financial expert nor is this intended to be financial advice. I love chatting about finances + goals-- I think you can learn a lot from others and I find a lot of motivation and accountability for myself there. I hope you'll enjoy reading some of my goals + will also share yours with me! 

2022 MONEY GOALS + RESOLUTIONS

+ ROTH IRA - One of my first financial priorities every year is always maxing out and contributing to my ROTH IRA retirement account. I know it can be boring or difficult to think about retirement when you're young, however in today's world it's more important than ever. Right now, you can still fund a 2021 ROTH or Traditional IRA account until Tax Day (April 18th, 2022). You can also start making contributions for the 2022 fiscal year. I like to distribute my contributions throughout the year so my main goals right now are to finish up my 2021 contributions + start on 2022 contributions. It's free to open one + is something that I think almost everyone can benefit from! For more info, click here to read Why You Need to Open a ROTH IRA Right Now.

+ NON-RETIREMENT INVESTMENTS - One of my 2021 Money Goals was to open an individual, non-retirement investment account which I did. I've started dabbling with a few stocks in this account, however I'm a total newbie. After I take care of my ROTH IRA contributions this year, I'm hoping to start investing more in this account with more mutual funds or stocks. 

+ INCREASE NET WORTH - Last year was the first time that I really took a look at the big picture of my financial situation and started tracking my overall net worth (assets minus liabilities). While I didn't focus too much on the actual number itself, my net worth ended up increasing by more than double by the end of 2021. This was due to a combination of increasing my income, investing, paying off some debt and saving a large portion of what I earned. Because I was able to see a pretty dramatic boost, I decided to make a net worth goal/"milestone" to start working towards. I'm not sure if it can happen in 2022 but we'll see how things go!

+ MAKE MORE MONEY - I was able to bump my income up last year by working a lot of extra hours. It's a grind sometimes but I'm hoping to keep that up going into this year. 

+ TREAT MYSELF - This one might seem a little counterintuitive to money + financial goals, however I also want to spend a little bit more of my money on treating me this year. I definitely spend money on myself now (mostly on eating out + food), however one of my 2022 New Year's Resolutions is to take better care of me. That doesn't only mean financially or materialistically, however there are a few things I'd like to splurge on! It can be tricky sometimes to find a balance between spending and saving but like with a lot of things in life, too much of one thing can be a bad thing! 

+ TRACK SPENDING - I did a great job last year tracking my spending + using the Budget by Paycheck Workbook until around August/September. After that, it was pretty much balls to the walls throughout the entire holiday season. I quit tracking my spending so it's time for a fresh start in 2022. I like to use both the Every Dollar app + the Budget by Paycheck Workbook. I primarily use them to track where my dollars are going + to see my progress, however they're also great budgeting tools. I purchased the new 2021 release a few months back-- I'll link my unboxing here!

+ READ MONEY BOOKS - Another one of my 2022 resolutions is to read more, including money + finance books. I haven't actually read too many books from this genre so I'm excited to hopefully learn more + gain new perspective. I'm currently reading this book right now-- I'll keep you posted on what I think. Hopefully I stick with the reading resolution + can start sharing book reviews with you again.

What are your money goals for 2022? 

I love sharing my goals with you all! Should you click on or make a purchase through the links in this post, I'll earn some money to keep on shopping! Pretty cool, huh? :)