Monday, July 23, 2007

Time for some goals...

Well, I've been at this for over a month, and I thought it was about time that I actually committed to some goals. So far, my aim has been to get my head on straight, and stop digging myself deeper into debt. I feel that I'm making progress with this; I've started an Emergency Fund and a Freedom Account, and I've spent nearly three months with a positive savings rate, spending less than I make. Hardly something to shout from the rooftops, but it's a major improvement from where I was three months ago.

Now, I've been doing some thinking about what specific, tangible goals I can set for myself. Here is a short list of goals I'd like to accomplish by December 31, 2007:
  • Build my Emergency Fund to $1,000

  • Fully fund my Freedom Account to $3,000

  • Reduce the total balance of my line of credit and credit cards to below $22,000 (a decrease of $5,610.74 from April 30)

  • Re-allocate my retirement portfolio to reflect my target asset allocation
I like these goals because they are so specific and actionable. I'll report my progress on these goals each month, and the first three will also be tracked in the sidebar (since each goal can be represented as a single number).

Wish me luck...

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