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2017 Goals

December 29th, 2016 at 12:30 pm

I just sat down and re-did my finances for the next year. It is hard to come with goals as things are still topsy-turvey.

The biggest news right now is that I traded in my $640/month van and leased at $210/mo small, good gas-mileage vehicle. All maintenance, among other things, are paid for in the lease amount. So all I will pay for the next three years (knock on wood) will be the lease, gas, and insurance. I am feeling a lot better about my car situation. Hopefully when my income stabilizes, I can start saving up for cash for my next vehicle.

My 2017 goals are quite simple, but yet tough at the same time:
1) Fully fund HSA - This should be easy. I have it on autopilot. $255/paycheck. This is a high priority due to my children's diagnoses. I will be cutting other discretionary areas in order to be able to do this the first few months.

2) Get rid of credit card debt - I currently have about $4,000 of credit card debt. I expect it to go up here once I get December and January's lawyer bills. It is a 0% credit card thru this year (and some of next). If I can, I will need to put at least $400/month towards it on average, without putting anything else on it. This will be impossible in the first few months of this year, but I sure hope it will work out later the year.

3) Create an EF fund - Start off goal is $1,000. I think I might even focus on that before the credit card payoff. After debt is gone, every extra penny is going to go into this for this year. Eventually, I want to get to $2,000 (one month of expenses), then $6,000, $15,000, and finally, the ultimate goal of $30,000! Someday, that is... ah, dreaming.

4) Contribute to 401K - I don't get employer match, so for the moment I am only putting $10/month in. Once my income bumps up to where it was again, I plan to put in as much as I can. Someday goal includes maxing it out. I need to plan to take care of myself without help from husband or children. I can do it!

5) Create "adult" documents - I need to create a will, power of attorney, medical directives, etc. I will probably do an online DIY one for temporary, and once I have more financial wiggle room, I will get a lawyer and get it nice and cleaned up and tight. I would rather have something than nothing.

6 Responses to “2017 Goals”

  1. scottish girl Says:

    You can do it!!

  2. VS_ozgirl Says:

    Great news on the car situation!

  3. livingalmostlarge Says:

    Good luck. Big change on the minivan.

  4. snafu Says:

    You are coping with big changes and I'm so impressed with your clear plan and positive attitude. Good on you having taken action and changing the auto lease to a lower monthly payment. I suspect insurance rate will likewise be lower than the larger van.
    Many of us are working on cash flow for 2017, figuring out anticipated monthly sums for the repetitious expenses like mortgage/rent/insurance, utilities .

    I'm confident that the plan you make for the next three months will work well.

  5. CB in the City Says:

    Good goals!

  6. Amber Says:

    Great start on writing down your goals, some times we just need to see them. It will be tough but if you stick with blogging, the people here are great, you'll be able to knock out debt and reach your goals in no time. Happy 2017 and I can't wait to see your progress. 😃

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