Amanda from Bel Joeor had an excellent post this month on financial goals and obstacles. I encourage you to check it out here. She plans to post the first Friday each month on financial strategies for her fellow equestrians. I appreciate her post because it’s encouraging to know I’m not the only one who struggles! Barn owners are usually not rich, ammiright? I really want to focus this year on some specific financial goals, so it came at the perfect time. In her first post, she addressed two specific financial questions.
1. What is one financial goal that you want to accomplish in 2018? Do you want a new pair of tall boots? To change your boarding situation? To pay off vet bills? To keep better track of your expenses? To start or top off an emergency fund? No goal is too small or too large!
2. What is one obstacle in the way of achieving that goal? Is it a habit that you just can’t break? A mistake you keep making over and over again? An emotional block? A tool or strategy you’re lacking? Try to think beyond “not enough money.”
I love asking myself questions like these at the first of the year! It’s an excellent time to plan ahead and gain momentum. For me, these questions can be answered in two difference veins since I’m a horse owner and barn owner. I will focus on answering them in a boarding barn owner light today, though.
1. I have lots of goals to improve my barn this year, and they all require money. Boo. The biggest one on the list is to put new dirt in my outdoor arena. It’s been on my list for two years now, and the urgency seems greater all the time. So, 2018 is the year for new outdoor footing! It just has to be, in order for me to keep my business going strong.
2. My biggest obstacle for this endeavor is not enough money. HA! But in all seriousness, my business does seem to fluctuate through the year since I live in a college town. The money I make when my barns are full in the winter and spring help float me through the lean months of the summer, so when it comes time to tackle a large project, I just don’t seem to have much extra. Not to mention three large insurance payments, and two super-large tax payments that always seem to come at inopportune times.
Somehow I have to find a way to 1.) Make more money 2.) Save more money 3.) Find a cheaper solution.
Doesn’t everybody… I hope you join in Amanda’s finance posts! If you haven’t already answered her questions, please do so in the comments!