My goal: to be financially free. But what exactly does that mean? And, how exactly do I get there?

Goals for 2009

  • Regular Savings – $1,500 by 12/31/2009.   ACHIEVED!      

    When I was 18, I had about $10,000 saved… in regular savings. I try not to beat myself about spending it all. I chose the opportunity to study abroad and had to cover living expenses. It was worth it! Anyhoo, now I have way more financial obligations, somewhere over the years I lost financial self-control, and it hasn’t been as easy to save! But I can do it.

  • Emergency Fund: $1,000 by 12/31/2009.  ACHIEVED!

    They say, you should always have 3 months worth of salary tucked away for those “shit-happens” days. I have a lot of “shit-happens” days and I wished I had an emergency fund to dip into versus credit cards or hitting my operating checking account (the one that pays the bills, groceries, etc). Ultimately, I will like my EF to have 3 months worth of salary but I will start off small for now. I cross my fingers that a lot of “shit-happens” do not occur over the next year!

  • Vacation Fund – $750 (formally set at $1,000) by 12/31/09.   ACHIEVED!      

    For those days when I want to just get up and go. I can’t do much with only $1,000 but I will make due. This is for vacations in 2010. For 2009, I will need to budget as I go.

Next in Line Goal

  • Downpayment (or Relocation) Fund: $7, 500 by 12/31/2010. Wether I buy property or relocate, I will need some funds. I based ths savings goal on 3% of $250,000.