I realized that although I make monthly financial goals, I never made a list of goals for the year. I'm new to this whole budgeting and goals thing, but I think it's important for us to make a list of yearly goals so that we have more of a concrete plan of where to direct our monthly goals. These are random and not in any particular order.
1. Pay off personal credit card debt. Started out the year at $5000 balance, and as of right now, we are down to $1500. We are on track to have it paid of by the end of March!
2. Pay off $5000 in IRS debt. We are on a monthly plan, but would like to eliminate this as soon as we get a new-to-us car.
3. Pay for larger SUV in cash. Hopefully by August when the new baby comes! We had the money saved up for this, but have recently decided that we want a different one than what we had been planning on. It's a little more so I think we need to save another $4000. Oh, and sell our current car!
4. Save up 3 month's worth of monthly bills. As of right now we have one month saved.
5. Pay cash for kid-free mini-vacation in April. We are hoping to book & pay for this by the end of February.
5. Business goal: pay off about $6500 owed to one credit card
6. Business goal: pay off $3000 balance on other credit card
7. Business goal: add property taxes to rental property mortgage payments in order to keep current.
These are ambitious goals for us, but I think that is the point. To stretch ourselves and see how far we can go (with the grace of God) towards accomplishing them.
Erika
2 comments:
Those are some really good goals, Erika! You sure work hard to get your debts paid, which is GREAT! It's always fun/interesting to read about other peoples money situation and how they deal with it. You do a really good job with it! I'm impressed!!
I agree. I always like to read about other's goals and how they work to accomplish them. I think it helps me to have it written out because there is some accountablilty there.
I only wish we had been doing this for longer instead of waiting for the economy to push us into it. We could have had so much more money saved and no debt (at least CC and IRS, etc.) if we had been setting goals for ourselves and not bought into the idea that everyone has car, credit card, etc. debt. We had never even thought that we could live without that debt, you know? At least I hope we can learn from our mistakes! Thanks for your encouragement.
Erika
Post a Comment