Saturday, December 05, 2009

SMART financial goals 2010

But first, a recap of 2009's goals:

1. We did pay off all our 0% financing several months in advance of the due date.
2. Roth IRAs - we maxed mine, but only got about halfway on M's. We ended up both needing a series of repairs and other maintenance on our cars over a period of 3-4 months (tires, brakes, alignment, etc) and redirected some of what would have been his IRA contributions to pay for this.
3. All of the CDs are opened and have already started rolling over into new CDs - we're actually adding $250 to each CD as they mature. This is totally on autopilot.
4. (deleted)
5. We paid off about 7% of my student loan balance, and also consolidated the balance at a fixed 1.75%. This on autopilot now too.
6. House DP account is open and we've already saved $4000 in it...track our progress at the bottom of the right sidebar!

Our goals for 2010 are specific (the S in SMART) but perhaps a bit less specific than last year's. We're also a bit more focused.

1. Max both Roth IRA accounts for the year - this is already built into our budget.
2. Save an additional $25K in our house DP account in 12 months - this might be a little tough depending on how/when things happen next year, but I'm gonna throw it up as a goal and try our hardest to meet it. It will definitely be our biggest challenge though.
3. Open a 401K/TSP account and contribute enough to obtain a full match - I fully expect to be done with my fellowship before the end of the next year (most people stay 1-1.5 years before moving on to permanent employment) so this is definitely a viable goal for 2010.

So there you go! What are your SMART goals for next year?

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