How We’re Making Our Financial Dreams Happen in 2016


Here we are, facing the end of another year together. It seems like we just started 2015, that there hasn’t been enough time pass for a new year to be looming, but sure enough, here we are. 2015 has been a year of up’s and downs, mainly up’s for all of us here at The Six Dollar Family home. Now, as we enter a new year, we’re looking at 2016 with eyes that are set on target and ready to flex the skills and lessons we have learned this year. Having financial goals and actually meeting them are two totally different things and that was a lesson that was hard learned for us this year. Sadly though? We’re not the only ones that have had that issue. Capital One recently released survey results that found that only 1/3 of Americans felt they accomplished their financial goals in 2015. Are you part of that 1/3 or are you, like us, in the other 2/3?

Do You have New Financial Goals for 2016? We do! Find out how we're making those goals happen and how you can too!

In the survey, most people ranked getting their finances under control as their most important goal for 2016. I know for us that is true. Our finances aren’t running amok, however they are not exactly where we want them to be. In fact? In 2016, we are taking things higher and trying to grow our own little money tree in ways we never have before. How you ask?

First, we’re setting specific goals. It’s one thing to say that you want to tackle your finances, but it’s an entirely different thing to say that you want to save $50,000, buy a home and get out of debt completely. In general, setting a specific goal for something in life, no matter what it is, will help you succeed quicker than just generalizing things. Having that specific task that you want to accomplish, helps us all to keep it first and foremost in our minds. For us, we’re going to be working at increasing our income, increasing our savings, paying off the debt that we have left and buying a home. One easy way that we’re helping ourselves is with an automated savings plan like the one that 360 Savings from Capital One offers. Having an automated savings plan in place allows us (and you as well!) to really maximize the amount that is being saved since you have total control over it and giving you a higher interest rate for your savings as a 360 Savings account holder.

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Can you see yourself living here? I can and plan to make it happen in 2016!

Can you see yourself living here? I can and plan to make it happen in 2016!

 

Another awesome thing about having a 360 Savings account from Capital One is the “My Savings goals” feature. We use this feature to set our individual goals, track them, update and whatever else we need to keep on the path of savings! It’s an awesome tool and I wouldn’t do without it! For us, we have set our individual goals; debt, savings balance, and home and have divided up our savings account balance across the three goals to show how close we are to meeting each one! I love it and it really helps to keep us on track! In 2016, we’ll be upping those goals and using the tools offered even more than we have this year!

Our last piece of debt that is hanging on tight.

The last piece of debt we have is saying goodbye in 2016!

Next, we’re doing what we can to increase our income. This means taking whatever side jobs we can, selling whatever we no longer need and earning any extra money that we can. It also means stretching the income that we currently have to make it last as long as it absolutely can. Sure, it’s not going to be easy, but having those specific goals to work towards really does help to keep us on track when the last thing we want to do is save money or live frugally.

Relaxing in a cabin in the woods sounds like the perfect vacation to me!

Relaxing in a cabin in the woods sounds like the perfect vacation to me!

Another thing that helps us is to create a vision board. For our family, we add things like homes we like, vacations that we would love to take when we’re debt free and so on. I don’t know whether it really helps or not, but having those items there for us to see daily and dream about when we’re losing sight of our focus. Once we get to talking about those dreams, we’re able to log into our 360 Savings account and our savings tools, see our goals and how close we are to meeting them.

If you’re setting awesome new financial goals for 2016, I’d love to hear what you’re doing to stay on track! I also recommend the 360 Savings from Capital One and all of their tools for helping you with that! For more information, visit the Capital One 360 website.

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.

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Stacy Barr
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Stacy Barr

Stacy Barr is the face and brain behind the frugal living and lifestyle blog Six Dollar Family. A true gypsy soul, her newest blog, Unsettled Hearts, chronicles the journey of her family to become full-time travelers. By the age of 30, Stacy had overcome an alcohol addiction, a drug addiction, divorce, survived domestic violence and had built a life for herself and her daughter after spending 10 months in a homeless shelter. Her book, also called Six Dollar Family, has sold more than 7,000 copies since its release.

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