2010 Goals

Financial Goals
Become debt free

At the beginning of 2010, I will have $2500 left to pay on my debt. I should be able to pay this off in March with extra income plus any tax refunds I receive.

Save $10,000 in an Emergency Fund
Honestly, I will evaluate my saving goals once I am debt-free. Right now my plan is to save, save, save like it’s job. Sure I’d love to contribute it to retirement, but right now I’m a little nervous with so little savings and a 1994 car and a wedding that may happen in the next two years. So if I can get as close to $10,000 in savings then I will feel more comfortable.

Continue to give 10% of my income
I got a little slack on this near the end of 2009 but I want to make giving a priority. I also want to find unconventional ways of giving to others.

Earn $5000 in extra income
Last year I made over $5000 in extra income. I think I’ll be able to continue that if I work hard and get creative.

Figure out Retirement Goals once I’m Debt-Free
I will reevaluate this after my debt is paid off. I am nervous and feel that saving for the 24 to 30-year old Me is more important than saving for the 65-year old Me.

Reach $20,000 in net worth
I will have to increase my net worth by $15,000 in 2010 in order to reach this goal. Yipes! That seems like a lot… but with investments, extra income, and hard-core savings, I think I can reach it.

Health Goals
Workout 3 times a week for the entire year/Attend the gym 156 times.

I don’t want to set a health goal like “lose 5 pounds” because once I lose it, I’m done?

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  • I totally think you can do the $20,000 net worth next year, especially since your being debt-free is around the corner. I went from $5,000 to $16,000 in 9 months and that was without a budget or any logic at all.

    We have three of the same goals: become a better cook, read more and work out more.

  • These are terrific goals. I like your health goals especially. Setting an amount to go to the gym is much more realistic than losing a number of pounds and doing the previous will lead to the latter! My biggest goal is to change my insurance plan during open enrollment so I can save a few pennies.
    Jerry

  • Great goals, best of luck achieving them!! I especially like the working out one, it’s a good idea to try to make the exercise part of your routine as opposed to having something generic like losing 5lbs. I should use that logic for my exercise goals too!

  • Love your goals! I had some major fitness/health fails this year, so I’m going to really be focusing on those goals in 2010 also.

    I’m with you on the idea of planning for your 24-30 year-old self, and putting your 65-year-old on hold for the time being. Sure, it’s ideal to be saving as much for retirement as you can when you’re young, but I think getting into the habit of saving for retirement is more important than the actual amount.