2009
January is when most people resolve to have better habits and meet their goals. January is also when most people lose their resolve (though it is usually toward the end of January that this happens). The best way to reach your goals is to write them down. The best way to make something a habit is by taking baby steps and being consistent. And if you really want to reach your goals... share them with everyone you meet (I think I may have already shared this with you on a previous blog... but it never hurts to hear it again).
This is the first year that I am taking my New Year's resolutions seriously. Don't get me wrong... I've made plenty a New Year's resolution in the past, but I never took them seriously which is why I never reached any of those goals I set. This year, I have spent about a week on my resolutions. Planning, writing it down, editing, planning some more, and making some more edits to my plan. It's taken a lot of brain power, but I have it all worked out.
Now for the plan portion of our presentation...
My goal weight... I'm not really sure what it is, but I'll know it when I get to it. Because of this I have decided to set my weight loss goals for 2009 in 10 pound increments (this is also easy since I am currently at 170). So, here's the breakdown for goal #1
· Set in 10 pound increments
· Expected loss of ~1.5 pounds per week or 10 pounds per 7 weeks
· Weigh in every Saturday
· Change mini goal deadlines as needed (160 by Feb 21, 150 by April 11th, and 140 by May 30th)
On to my next goal (and I know this has nothing to do with weight loss, but the same principles apply which is another one of my Fat Girl Lessons for ya). My credit card has a beast of a balance, and it's time I tamed it! I would love to tame her in one year, but it's just not financially possible (need to be realistic when setting your goals). So, It will take me two years. Now, I'm not going to share all the numbers with you here, but I will tell you that I am going to be putting what amounts to 15% of my gross monthly income toward my credit card each month. She's a BIG beast!
For my final goal, I have a 5 year plan to save up $10,000... though I will definitely be able to put more than $150 per month into savings once I have paid off my credit card. But for now, here's how the savings plan looks.
So, there you have it. My 2009 resolutions, planned, in writing, broken down, and shared with others.
PS- I did a little math and calculated how much money I would be able to save if after I'm done paying off my credit card I put that money towards my savings... and if I do that, at the end of 5 years I could have $27,413.47 in my savings! That just makes me giddy!
This is the first year that I am taking my New Year's resolutions seriously. Don't get me wrong... I've made plenty a New Year's resolution in the past, but I never took them seriously which is why I never reached any of those goals I set. This year, I have spent about a week on my resolutions. Planning, writing it down, editing, planning some more, and making some more edits to my plan. It's taken a lot of brain power, but I have it all worked out.
- This year I will get to my goal weight.
- This year I will pay off half my credit card.
- This year I will put $150 into my savings each month.
Now for the plan portion of our presentation...
My goal weight... I'm not really sure what it is, but I'll know it when I get to it. Because of this I have decided to set my weight loss goals for 2009 in 10 pound increments (this is also easy since I am currently at 170). So, here's the breakdown for goal #1
· Set in 10 pound increments
· Expected loss of ~1.5 pounds per week or 10 pounds per 7 weeks
· Weigh in every Saturday
· Change mini goal deadlines as needed (160 by Feb 21, 150 by April 11th, and 140 by May 30th)
On to my next goal (and I know this has nothing to do with weight loss, but the same principles apply which is another one of my Fat Girl Lessons for ya). My credit card has a beast of a balance, and it's time I tamed it! I would love to tame her in one year, but it's just not financially possible (need to be realistic when setting your goals). So, It will take me two years. Now, I'm not going to share all the numbers with you here, but I will tell you that I am going to be putting what amounts to 15% of my gross monthly income toward my credit card each month. She's a BIG beast!
For my final goal, I have a 5 year plan to save up $10,000... though I will definitely be able to put more than $150 per month into savings once I have paid off my credit card. But for now, here's how the savings plan looks.
So, there you have it. My 2009 resolutions, planned, in writing, broken down, and shared with others.
PS- I did a little math and calculated how much money I would be able to save if after I'm done paying off my credit card I put that money towards my savings... and if I do that, at the end of 5 years I could have $27,413.47 in my savings! That just makes me giddy!
posted by Pamela Suzanne at
5:21 PM
2 Comments:
I think its great that you are taking charge of your finances and focusing on building savings. So few people do that these days and it takes discipline. You've said you put a lot of thought into this already so maybe you have already considered this:
Why are you focusing on savings while you have the big CC debt? Do you have some big expenses coming up that you are saving for? You are paying much more in interest to the CCs than you are earning in your savings acct. Once you reach a comfortable amount in your savings that will cushion you for emergencies... maybe $1000? then you could dump the rest of that allotment into your CCs and get them done sooner so you can REALLY focus on your savings! Just an idea ;o)
Cari, it definitely crossed my mind. But when I did the math, here's how the mumbers look at the end of the 24 month period:
Current Plan
Credit Card paid, Savings $4,012.57
Alternate Plan
Credit Card paid (by month 19), Savings $4,262.13
That's only a difference of $249.56 at the end of two years. That, and with my current plan, I will have enough in my savings to use for any emergencies that may come up within that 24 month period, whereas with the alternate plan, I would not have any spare cash for emergencies until month 20.
So, to help me avoid putting any emergencies on my credit card, I have opted with the current plan.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home