I have a history of setting too many goals that are too challenging and giving myself too little time to achieve them. This is a recipe for disaster and has caused me a lot of frustration and disappointment in the past. So this year, I’m limiting myself to just 3 goals in each category: financial, personal, professional.
These are my financial goals for 2011. I’ve prioritized them in order of importance, and I’ve thought about them very carefully. I think that they are achievable if I stay committed, but at the same time not so easy as to be trivial:
1. Pay off my car
I will do this by paying double my minimum payment ($420) on my car every month and throwing all my extra money (from tutoring, reading AP exams, etc.) at this debt until it’s paid in full. My plan is to have this goal accomplished by June 30, 2011.
2. Max out my Freedom Fund
I really, really want to have at least $6,000 in the bank, just sitting there. Waiting. For me. For whatever I want to use it for. Six thousand dollars would float me for over three months if I lost or quit my job, but realistically I’d like to have the money on reserve so use in case my car breaks down, or my cat needs surgery, or I need to move. You know, in case life happens. My plan is to have this goal accomplished by October 30, 2011.
3. Re-start monthly contributions to my Roth
Once I have my Freedom Fund fattened up, I’m going to immediately re-start my Roth contributions at the annual max-out level of $417 per month. Obviously, I won’t be able to max it out for 2011, but I definitely want to get back into the swing of saving for retirement.
Reach goal: Add $1,000 to my Roth by December 31, 2011.
So that’s what I’m hoping to have accomplished on the financial front for 2011. Next up: personal goals!
