It’s January 1st – a great day to announce goals for the new year.Â Here are mine –
1.Â I want remain free from consumer debt.Â I am entering my fifth year of consumer debt freedom – and it still feels great!
2.Â I want to purchase a new-to-us automobile for my wife.Â We have a minivan, but the model we have is a bit small, especially for trips.Â We’ll keep it, because it’s paid for, but work hard to buy something a little bigger.
3.Â I want to increase contributions to our Roth IRA accounts and our kids’ college savings accounts.Â This past year, we bought a house, so most of our ‘extra’ went towards making the down-payment and then fixing the house up (with some new furniture, appliances, etc.)Â This year, it’s back to the savings-grind, putting away as much as we can for the future.
4.Â I want to accelerate my mortgage-reduction payments, and try to shave an additional two years off of the length of the loan.Â I can do this if I am frugal, make extra monthly payments, and live on a strict budget.
My goals are simple, measurable, and straightforward.Â 2010 was a very unique year, filled with the excitement (and worry) of purchasing a new house, moving to a new place, and working around a new schedule.Â Things have settled down over the past couple of months and we’re now in the swing of things.Â 2011 is a year for getting back-to-the-basics and really focusing on mid and long term goals.
On a personal note, I hope that you have a blessed and happy 2011.