Sunday, March 27, 2011

Financial Goals

I spend a lot of my time thinking about the future and worrying about all of the money-related aspects of life. Here are my goals for my 29th year:

1. Pay off debt For me, this is student loans. I don't have any credit card debt, but I did at one point in the past. My husband-to-be has some debt as well. My current student loan debt is approximately $8,131.

2. Become financially independent from my parents I need to stand on my own two feet. Having help from family is a wonderful thing, but it comes attached with emotions like guilt and shame. Not to mention I'm 29 and soon to be married - it's time to grow up!

3. Buy a car, the smart way I am lucky to have a free car, handed down from my parents. I would love to buy a used, reliable car in the near future. I'd love to pay for it in cash. Our two older cars make us hesitant to apply for jobs that involve commuting or planning long road trips to visit family. A newer car would improve our quality of life.

4. Build and maintain an emergency fund I believe in anticipating and saving for life's inevitable emergencies. A $1,000 emergency fund would be a great start and I'd increase it over time. An e-fund for me is a sense of security and peace of mind.

5. Increase my income I need a better job, with higher pay. I'd love to put my bachelor's degree to use as well. An increase in income is what will allow my other goals to be reached. No matter how comfortable I am and how much I dislike change, I need to change jobs in the near future.

6. Don't add any new debt Simple enough, right? Keep living within or under my means.

7. Continue learning about money I have learned a lot about finances over the last year. I want to learn more, and I want to continue working on budgeting, saving, being frugal, and spending consciously.

Seven goals. Some I will achieve, some I won't. Paying off $8,000 in debt over the next year (while still underemployed and dependent on my parents) isn't realistic. But the desire is there.


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