This is the last installment of goal week for the year! I’ll be reviewing all of my goals, starting with my finances. My finances were the reason that I started setting goals, and eventually started this site, so I figure it’s best to start here.
The first goal that I’ll have is to not add any new debt from now until the wedding. This shouldn’t be that hard, but it could be a bit difficult, so I just want to put it out there. I’ve got a lot of things to prepare for in terms of wedding clothing, gifts, etc. I’d love to be able to cash flow all of the things that I need to buy (which I will post about later). I think this will also keep me from going overboard on weddings (much easier than you’d think).
This was a fail. I didnt add any new credit card or any other type of consumer debt, but H and I did buy a house this year. We had been talking about it for a while, and decided that it was getting to be time to move on it. After looking for a while, we made a decision, put in an offer and signed all of our papers. Just like that, we had 120k+ in new debt, but have been able to build a substantial asset in the process. I’m not upset about adding this debt by any means, but it does violate the no new debt before the wedding goal.
My next goal is to pay down half of the truck loan. I initially thought about trying to pay off the remaining ~9,000 by the wedding date so that when I got married, the only debt that I would bring is my final student loan. Though I don’t think I’ll be able to make that, i’d really like to lower the amount on this loan quite a bit before I get married. I think I can do this by keeping my wedding expenses to a minimum and getting creative in other areas, such as going out and travel. If I can cut these things down, this goal should be no problem.
This went well this year. Earlier in the year, I mapped out a plan to pay more than the minimum every month (which I had been paying for a while) and rewarded myself with a small reward when I got halfway to this goal. The loan sat at around 9,000 at the beginning of this year, and half of that is 4,500. I’m happy to report that the balance of the note is now just above 4,300. This goal is a pass! A secret stretch goal for this was to have the whole thing paid off, but unfortunately that didnt exactly turn out. A closer look will have to be given to our spending at the beginning of the year to determine if the mortgage payoff plan is a good idea before this is gone.
The final goal is to create joint financial goals with H after we get married. Obviously, once this is done we can continue to move forward as a couple with our joint goals, and work to complete them together. Right now, I’ve got a bit of an idea about what will shake out of that conversation and be transferred onto paper. Once that happens, I’ll probably update you all on the new set of financial goals, and our methods to get there.
H and I have briefly talked about this, but not nearly as much as I (or her) would have liked. It’s a different thing than Im used to as I mentioned, but it’s very important that we are on the same page. I’m constantly worried that I’ll ask to talk about things and she will be bored, and she wants to know more about what’s going on. I feel like there’s an equilibrium point somewhere, we just have to work to find it. This goal (in some form) will continue into 2013. I’m also going to call this a half pass, because we did come up with one goal.
That’s it for my goals from 2012. It seems like I was focused in very tightly on the health goals, and didnt really pay much attention to the others. This has given me some interesting thoughts on how to structure my goals for next year so that more will get done.
Readers: How did you do with your goals this year?