Here are more of my goals, published online for accountability. Check up on me when you see me at church, the store, in your house! I get distracted like most everyone else and don't mind being reminded to stick with things.
My financial goals for this year are:
1) Set aside $2,000 by April for this upcoming baby.
- WHY? We have great insurance and a FLEX account, but we don't really know how much it will actually cost to birth this baby. Plus, much of the stuff I used with Baby Dhis was lent to me and has since been returned, so we will need to buy some baby clothes and gear.
- HOW? Sell excess belongings. Collect money due from past work. Re-route leftover groceries money. Reroute money being saved in home maintenance fund. Send leftover reimbursements from business trip to baby fund.
2) Contribute additional $3600 into retirement account.
- WHY? That’s how much we are currently short annually to be contributing 15% of income into retirement. The sooner we meet this goal, the closer it puts us to aggressively paying off our mortgage, and I want that sucker gone! I can think of one or 5 other things I rather be doing with that $1400 each month.
- HOW? Reroute sources from #1 once “baby fund” hits $2K. If there is a tax refund, put it into retirement accounts. Apply any bonuses or raises.
3) Earn an extra $20,000.
- WHY? To set the kids’ college funds and be done with it =$5,000; To snowball our mortgage, cutting off 6 years from our 15-year mortgage. = $10,000; To make charitable family trips and increase offerings.= $5,000
- HOW? No clue yet! There are endless options, but I must also take into account that this year, I will be giving birth to a baby and recovering from such event. Start a new business? Do contract work? Investments? EBay? Part-time job? Writing projects? Technical help?
The toughest thing for me is to just make a decision and go with it. I would like to choose a route this month.
Focus, Adhis! Focus!