I know that some of these are a stretch. I also know that some of these are a little subjective. But here we are!!! We are set to kick some major butt this year.
In order to have some perspective, as of January 1 our current debt total is $68,685.37 broken down to:
- Credit Card - $35,065.23
- Student Loan -$29,225.79
- Car- $4,156.35
- Medical - $208.00
1) Pay off car early. It is scheduled to be paid off December 2011/January 2012. I would like to have it paid off earlier. I am not setting a deadline (but August is the one in my head!), but I just want it done ahead of schedule. DONE!!!
2) Pay off $10,000 in debt (not including the retirement loan). OK....really, I want $12,000 which is about 30% more than we paid off in 2010. But I am setting the bar a little lower in the hopes of SMASHING this goal, and then motivating myself to get to the REAL goal of $12,000.
3) Side Hustle $2000. This will come from blogging money, selling items, odd jobs (including my new gig as a ChaCha guide!), etc. This will be a combined Mysti/G-man goal, but it also includes 1/3 of the hustle money to be "mad" money. See the new tally on the side bar to help me keep track. We aren't setting it up as $1000 each, but I am hoping that G-man gets motivated since he will get to keep 1/3 of it to "play" with.
4) Open ING Christmas Account. Let's not have a repeat of 2010. *sigh* DONE!!!
5) Continue to work on zero-based budget. This is still hard for us!! But we are getting there.
6) Curb food spending. Eating out has gotten out of hand. Processed foods are too plentiful in the kids' diet. Better food planning should help on both accounts.
7) Get life insurance. We have been irresponsible on this. I know that we can't afford what we really should have. But we have to start somewhere. We can always modify the amount and type later...but right now, we just need to do it.
8) Make will. The biggest reason we haven't made a will....we really don't have a guardian for our kids. No one is the right decision. But we have to bite the bullet and just do this too. Not planning on kicking the bucket, but need to make sure the wee folks are taken care of.
9) Resume retirement savings. We stopped contributing so we could increase our cash flow. I am hoping as the balances continue to go down on our debts, we can start contributing again. At least to get the employer match of 5%.
10) Find one "free" family thing to do per month. It might be a picnic, a school event, or something I haven't thought of yet! No one says you have to spend money to have family time.
Don't forget to check out my blogging and personal goals too!!!