Here I am in the second quarter of the year and so far, my goals are shaping up nicely (for the most part…but more on that below). This year, I decided to make my goals more management (aka smaller) and limit myself to shorter time lines, hence the quarter business. Three months is much more palatable for me than a whole year, and with things always changing, it’s easier to shift things around if I need to.
Update:
- Pay off the remaining consumer debt of $2,715. I’m down to $1,400 on this one. Status: on target.
- Boost my monthly mutual fund contribution. I increased my monthly contribution in February and have been throwing in large amounts whenever I get a large check. In the past three months, I’ve increased this fund by $2,700! Status: kicking butt!
- Pay off my remaining tax debt of $2,692. I was going to put this goal off until the third quarter, but then I became overly confident and decided to tackle it this quarter. Status: this will be a third quarter goal that my summer job will cover.
- Reboot my 52-week savings plan in reverse again. Instead of making weekly payments, I automated this goal and deposit $100 every two weeks – so I basically altered the 52-week savings plan and have a set amount I deposit instead. Status: on target, but need to schedule my next three payments before I fall off the wagon!
- Shred 3-days a week. Was shooting to work out to The Shred 3-days a week. Status: complete fail! I’ll revisit this later in the year.
Strategies and Changes
As you can see, goal 3 (tax debt) is shifting to next quarter – July through September. Goal 5 I’m throwing out the window. The truth is I do workout – I ride my bike three days a week. The impetus to Shred was my flabby stomach. Instead of tearing up my knees, I decided to do crunches four nights a week while watching a movie. It’s quick, easy and will get me the results I want. Perhaps I’ll revisit The Shred in the fourth quarter when the holidays come around.
What’s Working
I’ve turned my focus to saving and investing, especially since the consumer debt is almost paid off and the tax debt will be paid off in August. The goal behind the big push to save is to eventually have a down payment for a house. I think we’ll be looking pretty good come the final quarter of this year. I also think that from now on, my goals will be sanctioned into quarters since this strategy is really working for me.
How are your goals coming along? What strategies work for you?
6 Comments
Good work! Sounds like you’ll have the capacity to add some additional goals here pretty soon.
@Money Beagle – I’m feeling pretty confident that by the last quarter I’ll be able to add a couple of more financial goals.
The fitness goals are so much more difficult for me as well. I don’t think you’ll get a tone tummy by doing crunches. You need to do more cardio… I’m not doing very well with my reducing body fat % either.
Great job with the financial goals!
@Joe – Oh, thanks for reminding me that I SHOULD really be doing the Shred to get a ripped stomach! 😉 I think that’s one of Jillian Michael’s approaches – cardio with small muscle building. I know I should, I just can’t get motivated! Maybe this summer.
Congrats on your successes!
Interestingly, for me the financial part has fallen short of my goals thus far ( I know… I’m a personal finance blogger). However, I’ve incorporated regular workouts into my schedule 3 to 4 times per week and it’s gone well!
@Ray – Sounds like your fitness goals are going pretty well, as for your finance goals, you still have half a year to get those on track – good luck!