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Newbies and others: what are your goals?

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  • Newbies and others: what are your goals?

    I'm new to this "thinking before you spend" idea and am interested in net working with others in my situation. soooooooooo i was wonder if other newbies would share their goals.

    mine are:
    -pay off $11,000 cc debt while keeping it on 0% interest CCs.
    -only pay cash for cars from now on
    -focusing on enjoying the one we have instead of daydreaming about a better on (ie snowmobiles, boat
    -having an emergency fund
    -having all my CC with 0 balance
    -having lots of fun while only buying what we need or really really want
    -being able to have tons of fun and travel and still pay with cash
    -being very aware of where my money is going
    -and having a budget
    -paying cash for almost everything

    thanks in advance for all the share
    Last edited by cheshirecat; 03-15-2008, 12:08 PM. Reason: added more

  • #2
    My goal is to have $1 mil in savings/investments by the time I turn 40.


    • #3
      I'll ditto safari. I would like a million + in liquid assets when I am 40. After that, I'll figure out the next goal.


      • #4
        I want to die with as much debt as possible.


        • #5
          By 2008 goals are:

          1) Pay off debt (except mortgage) by October 1st
          . a) Pay off CC by April 1st
          . b) Pay off Car 1 by June 1st
          . c) Pay off Car 2 by Aug 1st
          . d) Pay off wifeís braces by June 1st
          . e) Pay off sonís medical by October 1st
          2) Invest $10,000 by year end
          3) Invest $15,500 in 401(k)
          4) Review and reallocate retirement funds by end of Q1
          5) Will by end of Q2
          6) Life Insurance by end of Q2

          But I keep on updating my goals as they become more attainable. I started the year with:

          1) Pay of $6,000 in CC by May 1st
          2) Pay of one car by August 1st (currently $5,700 is owed and last payment is 2/09)
          3) Invest $10,000 by year end in Taxable assets
          4) Invest $15,500 in 401(k)
          5) Review and reallocate (if necessary) retirement funds by end of Q1

          As you can tell, I have gotten way more aggresive and upped my debt repayment this year from 11k to 49k.

          We shall see how it goes.


          • #6
            My 2008 Goals:

            Pay off Car Note
            Pay off CC


            • #7
              1. First house - buying this spring
              2. Flat panel TV to go with our new house (been $20 a month for a LONG time for this)
              3. Large down payment on wife's car when her current lease is up in July.


              • #8
                Want to pay off debt and only have basic bills to pay every month. No loans, credit cards, etc. This board is helping me work toward that goal. Wouldn't that be fabulous!


                • #9
                  I am budgeting, planning meals and planning shopping lists before leaving home. For me, planning purchases is EVERYTHING! I have been rather careless in spending up until this time. It makes me sick when I think about it, but at least I've learned to change which is all that matters.

                  I use an excel spreadsheet to anticipate income and expenses. I pay bills the Friday we are paid, have set up automatic transfers to an online savings account and will be working on hammering debt. It takes so much time, but each pay period I get better and better.


                  • #10
                    Current Goals:
                    - Max Roth IRA
                    - 14% to 401k (current) upping to 15% by mid 09
                    - 5 months in EF by year end; 6 month in EF by end of 09 (currently at just over 4 months)
                    - Enough in short/mid term savings to cover a new (to me) car and 3 month Spanish immersion sabbatical by the end of 2009
                    - Continue living within budget


                    • #11
                      My goals are to wake up every day and make it through the day without killing someone. LOL

                      Financially my goal is to retire ASAFP.

                      To accomplish this, I set aside 11% into 401k (this is well short of the max dollar amount), max my Roth, and set aside cash from a second job into savings.

                      My goal is to have 33X expenses set aside prior to retirement at age 45, or 25X expenses set aside if I retire past age 50.


                      • #12
                        Our goals for this year are

                        1. Start Emergency Fund (currently $0 will be $6.5k)
                        2. Pay off Unsubsidized Student Loans (currently 24,000 deferred @6.85%)
                        3. Max contributions to IRAís
                        4. Finish Emergency Fund (+$13k to equal six month bills)
                        5. Pay down subsidized Student Loans (currently 20,000 deferred @6.85%)


                        • #13
                          My first goal is to pay off $15k in debt by next summer.

                          Mary Ann


                          • #14
                            Welcome, cheshirecat.

                            Originally posted by jIM_Ohio View Post
                            My goals are to wake up every day and make it through the day without killing someone. LOL
                            Good goal.


                            • #15
                              My financial 2008 goals:

                              Sell house for close to what I paid
                              Pay for move back to NC from NJ
                              Max 401k
                              Max Roth
                              Trip to Maui Invitational
                              Not blow all the money I've saved doing the previous 5 items