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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!


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!