The last time that we made publicly available financial goals was in 2009. That’s like, before the dinosaurs in internet time. Sure it’s almost March, but that doesn’t mean that it’s too late to make goals for 2012. The goals this year won’t be too different from years past, which goes to show that we’re still struggling with the same things. Old habits are hard to break. Without further ado, here’s our goals for this year:
1. Increase our savings to $30,000 to purchase a home. If I ever get around to another net worth post, you’ll see that we have between $18K and $19K in the bank. Sad, because it around the same amount we’ve had for the last two years. We’d like to put a substantial amount of money down on a home; considering home prices in Chicago, we’ll be able to make a 10% down payment with $30K. I still think that renting isn’t a bad deal, especially with our cheap $1,000 per month rent, but our family’s life situation has changed enough that buying a home makes more sense to us. I just hope that interest rates don’t go up too much in the next year.
Stretch goal: Save $35,000. I may have to prostitute myself and Her and/or sell our baby.
2. Pay off student loans that were transferred to a credit card at 1.99% for life, about $3,000. We made a transfer of $11,000 to a credit card that offered us a 1.99% APR for life in 2007. We’ve been steadily banging away at the balance of the card, and we have a little under $3,000 remaining. This should be pretty easy and we could do this right away, but having it written down will help to ensure that we actually do it.
Stretch goal: Get federal student loan debt balance to under $40,000. Truth is that it might be under that, I have no idea what the current balance is.
3. Increase income by at least $1,000 per month. I’ve been diligently working my butt off in order to realize this goal. I’ve been making some crucial connections with people in my network and have been given some business opportunities from them. Ohmygosh that was so marketing-speak, so let’s try this again: I schmoozed with some people with crappy websites and they’re going to pay me to make them better. Also, this blog. It makes money. Yeah.
Stretch goal: Increase income by $2,000 per month. I’ve done it before, I just need to do it again.
So in the interest of transparency (which is the buzzword of the year, yeah?) I’ll post an update every month to let you know how these are going. Accountability, AMIRITE?