My Goals Need your Help

Sorry all you readers, but I am going to ramble about my money situation again. The main goal right now is to pay off our Student Loan debt. My wife just recently got a teaching contract for the year, so we are excited about the consistent income that will come in throughout the year. We believe that we can make good progress on paying off our student loan, but we have to stay focused. Once we start making more money it is easy to relax and think we have arrived, but we have a long way to go. The last three months we have only been able to throw $200 at our loan, and it makes you feel like you are not moving anywhere. Do any of you ever feel like your in a financial ditch? I am in it right now.

The goal during this next month is to put a plan in place that will lay the ground work for paying off our student loan. We have to try to plan for most expenses coming up this year. The fall brings about more expenses with Christmas on the way. Traveling to see family is going to cost us $1000, and that does not even include the gifts. Those of you who have saved all year for your Christmas fund, hats off to you.

Here are my goals for this 2010- 2011 year. Save $5,000 for our emergency fund. Pay off $10,000 in student loan debt. These goals may sound simple for many of you out there, but this would be a huge accomplishment for us. I will use this blog to monitor our progress and if all you could please keep me accountable to them.

What savings plans do you have in place for this year? I know 2010 is almost over, but what do you hope to achieve financially, or in your personal life?

Thanks for stopping by



David Henry said...

No, saving that much does not sound simple. Alyssa and I are working out trying to pay off our house as soon as possible and this would require about $15,000 a year to do in the time frame we want and it is a huge task, especially with having a kid and preparing for more. Hang in there and I look forward to your progress.

Matt said...

Thank for your encouragement. Just think if you could pay off your house at an early age, all those years of no house payment would be incredible. So much more money to do other things, and bless other people with. That is awesome.

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