DCCU Staff Members Share Personal Financial Goals

Personal financial goals
Staff shares their personal financial goals

It can be daunting to set personal financial goals but it’s an important step for financial success. In order to help members take the first step to creating their own goals a few Dane County Credit Union staffers have shared their personal goals for 2016 and their plan to achieve and celebrate success.

We asked the following questions:

  • What are your financial goals for 2016?
  • What steps will you take to achieve your goal?
  • What will be the challenges and how will you overcome them?
  • How will you celebrate success?

Shane – DCCU Member Service Rep since 2015

  1. What are your financial goals for 2016? My goal for 2016 is to start two savings plans. I will start a regular savings for emergencies and vacations.  I will deposit a certain percentage of each payroll. If I think I will want to do a mini vacation or hit the casino I will put a percent for that into my savings as well. I will also put some money into the stock market and ignore it for a few months so I don’t cash out too soon or be tempted to deposit more.
  2. What steps will you take to achieve your goal? Paying more attention to my spending habits as well as creating treats and consequences for myself will help me achieve these goals. Bring on the Money 2016!!

Eric – DCCU Marketing Rep since 2014

  1. What are your financial goals for 2016? Save a little more money in 2016 to allow for some larger vacations coming up in 2017, and to be able to enjoy them comfortably.
  2. What steps will you take to achieve your goal? This will involve being more conscious of my spending habits, especially things that are not necessary. (staying in and cooking more vs excessively going out to eat, taking better advantage of coupons, gift cards, promos, etc.)
  3. What will be the challenges and how will you overcome them? The challenges will be temporarily foregoing a lavish lifestyle in some respects. Limiting fancy dinners or extravagant nights out, cutting out larger vacations in 2016 to prepare for 2017, (since 2015 had some pretty expensive ones in it) and scaling down on some of the nicer brand name items for a few of lesser value but equal quality. Especially for food and drink. Overcoming them will simply require a level of responsibility and awareness, and a willingness to say “no” to some things. And understanding that cutting some of these things out will allow for more savings and more money toward set goals in 2017.
  4. How will you celebrate success? A little over-indulgence during a very nice 2017 vacation. Getting out somewhere new, taking full advantage of the culture, attractions, and food and drink without worry or hesitation.

An anonymous staffer’s personal financial goals

What are your financial goals for 2016?

What steps will you take to achieve your goal?

  • Buy less stuff I don’t need.
  • Get rid of stuff I don’t use.
  • Save maximum in 401K

What will be the challenges and how will you overcome them?

  • Challenges are the same, I like to enjoy life now, which creates justification for getting things now, therefore I need to pause and think before making a purchase.

How will you celebrate success?

  • A great meal.

Amanda – DCCU Operations Manager since 2010

What are your financial goals for 2016?

One of my financial goals is to save money for my baby, who just turned 1 year old.  I want to be able to set aside money short term for any unexpected expenses (medical, emergencies, new shoes) but also long term for college and beyond.

What steps will you take to achieve your goal?

I already started a college education fund, but I want to increase my yearly contribution.  I can do that by setting aside an additional 20 dollars from each paycheck and then setting up an automatic deposit to go into the college fund.  I will also set up a monthly transfer of 50 dollars to go into her Great Dane kids savings account for short term expenses.

What will be the challenges and how will you overcome them?

A challenge will be not having that money in my account, but with automatic deductions, I won’t notice after a while. Another challenge could be leaving the money in there and not using it for other purposes.  A way to overcome that will be to constantly remind myself that this money is being saved for a purpose, and not just as fun money.  I could set up a smaller sub-savings for the fun money she gets during her birthday and holidays.

How will you celebrate success?

I think we will celebrate success by granting her wishes of something small like a toy or game when she reaches a certain amount in her savings.  Once she is old enough to understand finances, we can teach her what it means and how she can save for her future as well.  Then she can make choices about where her money goes.

Jen – DCCU Creative Director since 1999

What are your financial goals for 2016?

1 – Simplify my accounts

2 – Open an emergency savings account and save up $5000 over 18-24 months.

What steps will you take to achieve your goals? I need to open another personal checking account just for my bills and regular reoccurring expenses. Once I have this new account and my bills are totally separate, I will close a number of other accounts I currently have.

Once my bills are separated out, I hope to better understand my variable expenses like food and gas so I can clearly see what resources I have to build my savings. I will set up automatic deposits to help reach my goal over 18-24 months.

What will be the challenges and how will you overcome them? I have a lot of personal anxiety around financial issues so it’s very easy for me to procrastinate and ignore my goals. I have my account set up to run itself – automatic deposits, transfers and bill pay. But I have too many accounts and want to simplify. I am reading Money Rules by Jean Chatzky for tips I can implement immediately.

How will you celebrate success? Once I get my accounts set up how I want I will celebrate by enjoying the feeling of relief and getting a pedicure. When I reach my savings goal I will celebrate with a special meal out at one of my favorite restaurants.

Good luck to you on setting your own personal financial goals and working toward success. Contact us for tips on how you can use DCCU’s online banking and automatic transfers as tools to help you achieve your goals. Then don’t forget to celebrate!!

 

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Jen M.

Jen has been with DCCU since she graduated from UW Madison - a long time ago. As the Content Strategist she helps share all the amazing things DCCU does in our community and spreads the credit union philosophy of People Helping People. When she's not working for the best credit union in south central Wisconsin, she's busy with 4 kids and a feisty little dog at home. She formed her family through adoption and has a deep passion to support foster and adoptive parents and kids. Her favorite place to relax is poolside or in front of the fireplace.