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Friday, February 5, 2010

Financial Goals 2010

(I wrote this December 31, 2009. There must have been a latent Y2K bug because this did not publish. Darn Y2K+10!)

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!

3 comments:

Ane said...

Also if you don't mind second hand...there are monday 99cent days at Savers on certain tags and then at Kid to Kid they have a box of free clothing. Not sure if this at all locations. Great budget helpers... Good Luck with your goals!

交友 said...
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Kristen said...

Funny, I thought that creating a life and nurturing it into a happy future was a lofty investment already.

Go, Mommy Adhis, go!