Our personal financial goals this year are pretty straight forward, and nothing new. We will be continuing to focus on several items that were on our 2008 goals, but we have a new focus. Over the summer, I read “The Total Money Makeover” by Dave Ramsey. I have heard of many of Dave's ideas and we were actually following many without knowing they were in the book. After reading through the book, I was hooked (and so were my friends). If you are really serious about ridding debt from your lives once and for all, give this book a chance.
Dave's baby step approach is smart and encouraging as you focus on eliminating debt, starting an emergency fund, and planning for your future. As an organized list maker, I find that as I see each step being marked off (ever so slowly), it is encouraging to me. We aren't “gazelle” intense but have taken the majority of what he is suggesting and making it work for us – you will see that in our goals too.
So, with that information, here are our 2009 Financial Goals:
Savings for New Expenses
Monthly: put money into savings for a “new to us” car and a house project. Our goal is to have this account funded by July 2009. ** This isn't a step in Dave's plan. To ensure we don't incur any additional debt, this is something we are going to do.
Savings for 6-Month Emergency Fund
Monthly: accumulate money for our Emergency Fund. Our goal is to have this complete by December 2009.
I will plan on updating this as I update and share our progress quarterly (or sooner if we meet something!).
Do you have specific Financial Goals this year? Please share in the comments or leave a link to your place – you are not alone!
And, please visit Crystal's Post to “Get your Finances in Line in 2009” to link/share your goals for the year too!!