2010 Goals

I never do this. I always have vague, spoken aloud goals about how this year is going to be different because now I am going to do such and such. Inevitably there is no accountability and it falls by the wayside rather early into the new year.

With our newly diminished income, I find that we pretty much have to set goals if we want to accomplish anything, financially speaking. The goals need to be specific and quantifiable. The husband and I have actually spent some time brainstorming these, putting them down on paper even. This is really quite remarkable for us.

The list of OUR goals defined as of 1/1/10.

SAVINGS
Save $2669.48 to bring long term savings up to 40k.
Minus interest, of course. Weekly deposits of $55 have been set up to begin 1/15/10

Build a CD Ladder.
Currently most of our long-term savings is in an on-line savings account. When rates took a dive last year, I opted not to tie everything up in CDs. Rates still suck, and there really isn't any reason I shouldn't be squeezing what interest I can out of money that isn't going anywhere fast. I would like to open 2 CDs, in addition to the 1 I already have. This may involve moving online banks.

Build slush fund back up to $1500.
Our short term savings account was depleted by both our Chicago trip in the fall and overspending at Christmas. It is currently at just over $1000. Re-instituted the weekly $50 auto-deposit to begin 1/7/10. We do use this account for prioritized spending. Sub-goal is not to dip below $1000 balance through out the course of the year.

Save $2315 to open Roth IRA account.
I started an account for this late last year. Need $2500 minimum deposit to open an IRA with Fidelity. I should already have this, but its a higher priority now that I don't have a work sponsored retirement account. Weekly deposits of $35 have been set up. Acknowledging that this will need to be boosted by windfalls/bonuses in order to make the goal.

GIVING
Donate $25 per month to my charity of choice.
This is one of those goals I start out with every year, and usually stink at.
I am going to call this my monthly karma payment and simply add it into the budget. If I continue to consistently de-prioritize it, I will put it on a auto-payment. Must give $25!

SPENDING
Hard category for us. Encompassing quite a bit, most of which is tied to the aforementioned slush account, and will only be started once the account has a balance of $1500+ again.

Outside House Projects.
To be accomplished in Spring, no earlier than April, no later than end of June.
Paving or graveling the driveway/back patio area. Husband has been assigned the task of getting quotes for this by EOM January. In my mind I think it will be ~$1000.

Rebuilding the side gate to backyard. Its a large sagging gate, so the project is bigger than it sounds. The husband can do the labor (thankfully). We need a quote for materials. Again with the EOM January assignment. My guess is somewhere in the $250 neighborhood. Time frame is roughly the same as the paving.

Inside the House.
We are in desperate need of more seating for our living room. Have been ever since we moved in. I am working on getting my Mother to pass down a family chair she had re-upholstered a few years ago. That prospect looks pretty grim, so I am adding it to prioritized spending for the fall no earlier than September, no later than mid-November. Max budget $250. Preferably chair should be used.

Pets.
Yes, in our world they get their own category. Vet visits for all ASAP. This is another item that has fallen behind with the income tumble. A certain dog has a benign growth that needs to be removed. Other than that its nothing pressing. However, yearly vet checkups are something I feel are paramount to responsible pet ownership. I need to practice what I preach here. The goal is to get past due pets caught up beginning in February and maintain an up to date schedule through out the year. Ideally, As much of this as possible will be accomplished within the monthly budget. However, dipping into the slush fund is to be expected and not to be considered a cardinal sin.

Spend no more than $100/week on pet supplies.
This is separate from vet expenses, and to many will seem excessive. Take into account, we have more than your average number of house pets and are committed to providing them a high quality diet and life. This specific goal is actually within our current budget guidelines. I am redefining the weekly limitation in order to keep myself from spending more 1 week, and saying I will spend less the next. Inevitably, I don't and am left chronically over budget. Working in my favorite pet supply store ever 40+ hours a week does not help this nasty habit.

New Laptop.
Some of the logic for this will be covered in my upcoming Christmas re-cap. We are going to need a new computer for home use sometime in the not to distant future. Thus far our little Dell laptop has been a trooper *knock on wood*. But, I am all too familiar with the life expectancy of these things and were this bad boy to die it would leave us in a lurch. This purchase isn't planned until late next year, probably Black Friday. I am also seriously considering making it a Mac.

Live without Cable for a year.
I could probably write a whole separate post just about this. In fact, I think I will. Suffice to say this must be canceled by 1/10/10. The count down has begun.

30th Birthday Trip.
Last but not least, I turn 30 this July (eek!), along with a couple of my closest friends. We have been tossing around the idea of taking a group trip for several months now, but specifics have not been defined. Vegas? Austin? Portland? When? How long? Budget? I imagine this is going to be a big ticket item $1000 - $1500. I am putting the money in a separate account, and have already begun saving a bit. Mini-goal is to firm up details by EOM January.

Because this has turned out to be so long winded, I am going to save the personal goals for tomorrow. This gives me a bit more time to think of the specifics anyway.

Final thoughts.
I hope we aren't setting the bar too high. In the past, the main reason I tend to 'fail' at goals is because my eyes are bigger than my stomach, so to speak. Given our current budget, I need to be realistic about what we can really accomplish. Ambition must be balanced with capabilities. I need to acknowledge that both the savings and the spending is going to require a concentrated effort to keep plugging away and make the most of any miscellaneous income that comes our way; bonuses, tax returns, gifts, survey bucks, etc.