I’ve been listening to Dave Ramsey podcasts while I do projects and chores around the house. His radio show is broadcast in my area but the reception is terrible. Other bloggers have posted about applying his plan to get out of debt and be financially independent. I will do that some day because following his plan-even loosely- helped us pay off our debt (everything but the house).

During a recent podcast, he discussed the key elements to setting and achieving goals. In order to be effective, goals must:  1) be specific, 2) measurable, 3) yours, 4) have a time limit and 5) in writing. This article on his website goes into greater detail about the importance of each of these elements.

Although I think it’s a great idea to set goals in different areas of your life, this is such a new practice for me, I’m starting simple.

I think posting about goals counts as writing but I think they will be more likely to happen if I also write them down on paper or in a book or something.

One goal I have is to sell more things that I’m not using on Craigslist.

Applying the Ramsey elements:

1. I plan to purge and earn $100 per month by selling things on Craigslist.

2. While the amount of money here is arbitrary.  Putting a dollar figure on the goal makes it measurable. If I’m posting 5-10 things every week and not making close to $100 per month, I can reevaluate to determine whether it’s worth the time. I am balancing my potential to earn a little money on some things with my desire to get things out the door. I think the $100 goal will motivate me to get rid of some bigger things.

3. This element is satisfied because it’s my idea but Mark definitely supports it. He also is amenable to listing some of his things.

4. My time frame is 6 months. If I’ve earned $500 by the end of May, I may continue but in the interest of simplifying, I may purge the rest of the things by donating them or giving them away in the early summer.

5. My goal is in writing here but I’ll also write it on paper.

By the way, I earned about $250 in December selling things on Craigslist that I didn’t use or need. I don’t anticipate that I have enough to continue that pace which is why I set the $100 goal.

I’ll keep you posted.