- Save up a $2000 Emergency Fund
- Eliminate Law School Loan (Current Balance = $1932)
- Save up a Christmas Fund of $300.
- Save $1000 for Special Event* in 2010.
- Continue to save 10% of my salary for retirement.**
- Pay off all short term debt - don't acquire new debt.
Second, my law school in an act of extreme benevolence decided to give me a $2000 loan in my third year of school. For this they are charging me a whopping 8% interest. If I stick to their payment plan of $40 a month, I will only reduce this debt by $72. Yes, you read that right friends. This loan has got to go bye bye. Starting immediately I will increase my payment to $54 a month, which would put me on track to pay the entire balance in 3 years and 5 months (instead of 8 years) and will throw any additional money (I'm looking at you, Extra Paycheck) in order to achieve this goal.
Christmas didn't bankrupt me this year, yay! But it still wasn't planned for in advance and I incurred even more debt ($60) to Boyfriend for our joint gifts. Next year I will be prepared by saving a mere $25 a month.
Special Event* to be named later though you may be able to guess the nature of this event. Sigh. Why did I have to fall in love? Not gonna start this goal until after the move. If I move in May as planned, I would need to save $142 a month.
There's an asterisk next to my goal of saving 10% for retirement since I am currently only voluntarily saving 7% of my salary and the other 3% is saved for me by my pension. If I lose my job, I will roll over this money to a Roth IRA. If I stay a public employee it will stay as is. If I join the private sector I may decide something else entirely.
And lastly, I will pay off all my Short Term Debt (why, oh why did I choose that name for this category?) in 2009. This includes Boyfriend (who has to give me a full accurate accounting please), overdue water ($300), overdue utilities ($125), Friend C ($60), and Capital One ($400). Getting rid of these debts will let me breathe a little easier ($105 in regular payments gone) and focus on the rest of my goals. Also Nice Collection Agency will be paid in full early into 2010 (currently paying $125).
And onto personal goals, which I'm fairly excited to write about:
- Read 109 books
- Get wisdom teeth extracted
- Simplify my life
- Be a better friend
- Learn how to use eye liner
And sadly, yes, I will enter my 29th year of life without being able to use eye liner. I'm not a big makeup person to begin with but this is something I need to learn!
I'll have to write separate posts on "simplifying my life" and moving but here they are, my ambitious and maybe slightly crazy 2009 goals. Wish me luck! Now I've got a lot of reading to do.