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2016 Goals

January 23rd, 2016 at 11:06 pm

I'm actually still working on what I want my goals to be this year. I know I work better when I have something I want to achieve. I will probably only make one or two financial goals to make it manageable. I'd ideally like to come up with some ideas before the end of the month.

Last year I was so focused on building up my emergency fund and paying down debt, so I don't want to lose momentum this year. My goals will probably be pretty similar to last year I think. As long as I'm aiming towards something, which I think is the point. I definitely know my Big Picture Goal: be debt free. I'm years away from this though. Also have a hefty emergency fund. One step at a time though.

6 Responses to “2016 Goals ”

  1. VS_ozgirl Says:

    As you're both not working I'd start with your goals on the lower end of the scale simply to be reasonable. Get rid of CC1, it's only 95.59, perhaps bring CC3 to 2500, the catalogue debt to 3000 and some money in the EF? Then your debt will be under 7000 and you'll have a small emergency cushion? I don't know what your debt repayments are so you can probably bring that into consideration when planning your goals.

  2. creditcardfree Says:

    Good idea from VS_ozgirl. I would focus on bringing in small amounts of cash. That focus will help you then use those funds for the most important thing at the time. Living expenses, emergency fund and then debt.

  3. crazyliblady Says:

    I would play snowball with the debt. Since the cc #1 is the smallest debt, I would throw the minimum payment and any extra funds at paying it off. And I would pay the minimum payment to the other debts. Then, I would roll that extra money into the next smallest debt payoff and so on. I would also contribute something savings regularly. If you have any ability to bring in extra funds, that will help to achieve your goals greatly. Do you do any online surveys? I could send you referrals of places that pay.

  4. scottish girl Says:

    Thanks everyone.
    I'm still working part-time. I have started doing surveys again so I should see some rewards soon. Last year I split it 70/30 towards debt and EF.

  5. rob62521 Says:

    You created good goals to begin with so keeping with them is smart.

  6. greenleaf Says:

    Totally agree that paying off that small balance is a great goal! Maybe another good challenge for the year in your current position would be tracking "side hustle" money- any extra windfalls or side job money you and your husband bring in to help supplement the household until you are both working again. You could use that money however made sense at the time- saving, household bills, debt repayment, etc.

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