Here are the goals I have set up for myself:
Immediate term (Present – 2008)
- Pay off AES student loan by January 2008
- Increase Emergency Fund to $1000 by March 2008
- Pay off credit cards by March 2008
- Pay off The Bank of Friends by May 2008
- Increase net worth to -$93,000 by December 2008
Short term (2009 – 2010)
- Pay off The Bank of Mom & Dad by April 2009
- Pay off car loan by October 2009
- Increase net worth to -$60,000 by December of 2010
Mid term (2011 – 2013)
- Have no high-interest, unsecured debt by December of 2012
- Includes everything except federal student loan and mortgage
- Start contributing 15% to retirement investments by January 2013
- Increase net worth to -$30,000 by December 2013
Long term (2014 – 2022)
- Increase net worth to $0 by December of 2015
- Save $30,000 for house down payment by December 2016
- Pay off federal student loan by December 2019
I’ve always been a very goal-oriented person. That trait is how I got to law school, which is how I got so far into debt, and I plan on using the same trait to pull myself back out. The goals I’ve set up are both attainable and measurable, and they have the added bonus of being things that I want very badly. The charts in the sidebar are a huge motivator for me, and I’m looking forward to watching them go to the right, pixel by pixel.
Next time on TVG&M: My Plan of Attack
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