Setting Goals in Public

One of the values of setting out goals in ‘public’ on-line is that you are more likely to stick to them. Our financial literacy month goal would probably have come to nothing if I hadn’t committed to writing it down. Getting to the end of November we have made a decision and started our second superannuation scheme. Our paperwork has all been organized and gone to the accountant for our yearly tax return. For November every weekend I have taken out books on financial literacy from the library as my weekly reading. Even if you only learn one thing from every book you read that can make a difference in the long run. A couple of times a week I now get up early so that I can watch NZI business review from 6:00am to 6:30am before heading out to work at 6:40 a little more educated . It was interesting this morning to hear the discussion about extended warranties on products that shops offer for an extra price when you buy purchases such as TVs, fridges etc. Seemingly there is no point buying them as under the Consumers Guarantee Act you are entitled to take the product back if it does not last for a reasonable amount of time which for something like a fridge would definitely be more than two years. I have never bothered to buy an extended warranty as I figure probability wise I will risk it. I know some even shops send you out letters when your normal guarantee expires encouraging you to purchase an extended warranty. For more info on extended warranties here is the Ministry of Consumer Affair’s take on it Extended Guarantees – Ministry of Consumer Affairs – Media Centre.