Monday, December 30, 2019

Goals for 2020



1.   Work on reducing the HELOC balance.  The amount is considerable ($84,107.73) but I am dedicated to whittling it down by $20,000 in 2020.  Okay, I realize that $20,000 is a HUGE goal, and I hesitated at this amount.   I had to convince myself not to lower it because I did not want to set my self up for failure.  But, the only failure is not trying.  Any amount put towards lowering the balance will be a success. So there you go!

2.  Increase Emergency Savings from $1000.00 to $3000.00.  Right now our emergency fund carries about $1200.00, but by the end of the year, we would like to increase that to $3000.00 for a little more peace of mind.

3.  Getting healthy. Time to focus on getting rid of some extra weight and change our eating habits.  This is a goal that we have every year, and every year we fail.  My stumbling block is I am an emotional eater and consume food when I am happy or when I am sad.

4.  Building online income.  I sell on eBay and (will be expanding to Etsy) and it is consistently inconsistent. But I will continue to work at adding listings, tweaking what is already listed, and promote on Pinterest and Twitter. The earnings will go towards paying down the HELOC.

5.  Christmas 2020  Set a Christmas spending budget which I currently estimate to be at $1000.  This includes spouse, grown kids, grandkids, Christmas tips for my hairdresser, pool guy, mail person, and our pastors.  Maybe If I set an amount NOW, it won't be such a shock in December.

I will finish ALL holiday shopping by Thanksgiving!! No more of this last-minute stuff. My mom ALWAYS finished her shopping by Thanksgiving and I use to do the same.  I really need to do it again, to enjoy the holidays without the stress of  Christmas shopping.


6.  Have more fun!  Life is short and I know that saving money, budgeting, and being frugal is important.  But....   having fun and enjoying life is just as important!   Living in Central Florida provides many opportunities to visit theme parks and be a kid again.  An annual Disney Pass is one of my sinking funds/categories. I love to go and visit the theme parks with my grandkids or even by myself.  They make me happy.

7.  Plan a Trip  To Wisconsin.  It is family reunion time!  I am hoping my anxiety won't get in the way of travel this year.  We will have to put away a couple of thousand for this trip for travel and lodging.  I really want to go, but the anxiety of planning gets to me.  I know once I get there it will be fine.  But, I have to get there first.

8.  Roth IRA..... hello....  you remember me, don't you?  My retirement planning has become more important than ever.  I will research ways to better invest with my ROTH and shop and interview financial planners. We have one now, but I need to make sure he is the best person for me and my retirement goals.

9.  Read 10 books.  I miss reading books.  With everything online, I spend too much time reading and catching up online.  I could not tell you when the last time I actually held a book in my hands and read for enjoyment.  It has been a while, that's for sure.

10.  Compile a folder/notebook for our estate planning.   I need to put all of our "financial things and paperwork" in one place for safekeeping.  A notebook with all current accounts and final wishes and arrangements will make things easier for the family members who have to take care of it.

There is nothing suggesting that the end is near, but I need to get all this in one place for peace of mind for us and our family.

So there it is a list of goals for 2020.  For me, it will be motivation to stay the course for self-improvement and paying down debt.  I have put up yearly goals in years past, sometimes they motivate me and sometimes they are so overwhelming that I will self sabotage my own success.
Self, let's stay on the side of success and not self-sabotage this year. 






2 comments:

  1. You can do this, Just be diligent. I would love to start selling on ebay but have no idea how. and

    ReplyDelete
  2. You set a great example of diligence and success with paying off your house.

    ReplyDelete