As i mentioned in Our Financial Journey, part of the reason for blogging is to keep myself accountable to the goals we’ve set for ourselves. I plan on sharing some goals outside of personal finance, but hope to keep this short and sweet! I will try to provide an update at the end of each month in order to keep everyone posted on the progress.
- Replace our car with a minivan without incurring any debt.
Our current car works just fine but is quite small and compact. It is becoming quite the hassle to get Junior in and out of the car each time we need to go somewhere. From doing some research, I think we can purchase a nice, used van and sell our car for a difference of $4,000. So this goal really amounts to saving $4,000, finding a buyer for our car, and purchasing a used van. I’ll be using my own Craigslist advice for sure!
- Pay off all of our student loans.
Currently, we’ve paid down almost $1,000 of student loans in January. The current total is right under $33,000. I’m going to have to really hustle outside of tax season to make this happen. It is a lofty goal, but I think we can accomplish it if we scrimp and save each and every week.
- Refinance house to a 10 year loan.
Even though we have a good interest rate, I’d like to refinance our house down to a 10 year note. The PITI would be in the $890 a month range which would be over double what it is now, but not something that would be too burdensome. We are very fortunate to have found a great deal on our home and have the skills necessary to do most of the repairs ourselves. We also live in an area with an extremely low cost of living. This goal will not take shape until the last few months of the year as goals #1 and #2 are more important to us at this point.
- Pass the CFP exam.
After tax season is over, I plan on spending much of my time studying for the CFP exam. There is an exam date in the middle of November so that is what I’m shooting for. My hopes are to eventually fold in fee-only financial planning with tax planning and preparation, but I’m not exactly sure how all that is going to work out.
- Have a nightly Scripture reading and prayer time with my family.
This is something we have already been doing for quite some time, but I want to improve our consistency. 6 days a week for the entire year. May the Lord help me to better lead my family!
- Lose 20 pounds.
Sitting behind a desk all day isn’t good for the waste-line! I’d ultimately like to lose a little more weight than this, but I think this is a realistic goal for 2013. We plan on implementing a modified version of the Paleo Diet, and I plan on doing 30 minutes of exercise 6 days a week. My goal isn’t to look like Arnold. I just want to honor God’s temple and be healthy!
- Turn this blog into a side business. My goal is to earn $250 gross revenue with the blog by 12/31/2013
This is the largest wild card of them all! I did quite a bit of reading on blogging before I started this one. I probably did too much planning, but better safe than sorry! The reason this is such an unknown is because I’m not sure what type of revenue model I’d like to pursue. I’ll keep you posted on this goal as we move forward, but I don’t plan on trying any sort of monetizing until I’ve been blogging for at least 6 months.
What goals are you setting for you and your family for 2013?