My 2008 Financial Resolution
Cash Money Life is having a giveaway for those that participate by posting their 2008 financial resolution in the SMART Goal Format.
Here is my resolution and how I intend to accomplish it:
I will add $10,000 to my down-payment fund in 2008
* Specific – I’m going to expand my alternative income by freelancing more often (now that I’ve done it), hopefully I’ll have a new job by then, and I’m going to continue to save like crazy (dividends, automatic monthly savings, interest in my ING account, and so on).
* Measurable - See the bank account hit $10,000.
* Actionable – Totally doable. I’m already doing most of it, I just have to focus it on this one goal.
* Realistic - I’m already doing most of these things although I do need the new job ASAP, which is why this blog even exists.
* Timely - If I stick to the plan and do what I’m already doing, I’ll need to come up with around $4,000 with alternative income streams. So far this month? $250. So I just have to bump that up to around $350/month and I should be OK.
It all sounds great, but I also have to do all this with a new job I don’t have, without breaking the budget for a whole year (!), and without neglecting my Roth IRA (which goes up to $5,000 next year) and the travel fund.
Nobody said it would be easy.
November 28th, 2007 at 6:29 am
Great goal! I hope you succeed!
November 29th, 2007 at 5:23 pm
Best of luck and nice blog!
December 5th, 2007 at 6:35 am
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February 17th, 2008 at 6:58 am
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February 18th, 2008 at 6:59 am
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April 1st, 2008 at 5:38 am
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April 17th, 2008 at 5:55 am
[...] etc.), I usually save it. Save, save, save—that’s my mentality right now as I shoot for a $10,000 down payment for a place to [...]
April 22nd, 2008 at 5:33 am
[...] and stuff. What right do I have to complain when I’m more worried about having a big enough down payment and not keeping food in my [...]
May 8th, 2008 at 5:48 am
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June 10th, 2008 at 5:11 am
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July 14th, 2008 at 5:33 am
[...] Expensive: I would have to pay for the phone, an early-termination fee with T-Mobile, and it would double my monthly payment (ouch). That’s a lot of money for someone trying to cut corners to save for a new place. [...]