Additional Goal – Debt Reduction

Hi Brooke,

The one big goal I chose to focus on (aka blow my own mind goal) back in January was to lose 19 pounds. However, in February, I went to see a Financial Planner which made me rethink my one big goal.

Seeing a financial planner has been on my to-do list for several years. I have known for a while that the wise thing to do would be to have an expert to do a deep dive into my assets, investments, credit, etc. The drivers for this are: (1) getting closer to retirement age; i.e. within 15 year horizon; (2) have various types of investments with no coherent plan; (3) enjoy what money brings, but have no interest in learning how to manage it myself i.e. no expert and don’t want to be; and finally (4) thinking about a second act, i.e. getting out of the corporate world. At our meeting, after reviewing the large stack of documents I was asked to bring, the financial planner said to me and in a grave tone of voice may I add “It’s a good thing you came to see me now so we can do something about your debt. You are spending too much and crossing over into dangerous territory”. Even as I write this now, I get a big knot in my stomach. How have I gone so unconscious about my spending?!? Clearly I had gone renovation crazy in the last several years. I am seeing him again on March 23rd and he will give me a comprehensive plan of action. So yes, March is ALL ABOUT MONEY FOR ME!

I heard you say repeatedly that we should choose just one big goal to focus on. I am sticking to my weight goal. My daily thought work this month is on that. I am committed. This said, a close second is to reduce my debt. My compelling reason is that I want to feel fully awake and in charge of my finances. I have a debt reduction goal in mind that scares me. It require me to make sacrifices which I have already started putting into action. It would also require me to find additional sources of income though short term project management contracts. Both actions actually feel pretty good! I am totally digging the essentialism / minimalism movement. I also have been remiss in networking and seeing what else there is out there in terms of opportunities. This would give me the impetus to do so.

Aside from reducing my spending, I have not taken any real action towards getting additional work. I know I have a lot of thought work to do on this… evidenced by the fact that I have not yet started! Also, I am thinking that I am not supposed to take on too many big goals. But… part of me thinks that I can do both and that I would only delay the financial awakening that I need.

Can you please advise?