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2010 - financial targets
whitevanwoman
Posts: 351 Forumite
On 1st January 2008 I started a thread with my financial targets for that year – you can see it here
http://forums.moneysavingexpert.com/showthread.html?t=657733
Last year on 1st January 2009 I did the same with new financial targets for last year – you can see it here http://forums.moneysavingexpert.com/showthread.html?t=1389223
It would be great to see other people’s targets so feel free to post your own financial targets for the coming year on this thread or to comment on my financial targets. I’ve enjoyed keeping these threads going (although somewhat sporadically) over the past couple of years, and I must admit to a sense of pride when I sat down yesterday and realised just how much I had achieved over the past year. I hope this might inspire others to do the same so that even the smallest targets will feel like big achievements when you look back in a year’s time.
I see a target as being something to aim for - it's great if you hit it, but if you don't, just keep aiming at it and eventually your aim will improve. And don’t forget that a target must be SMART – Specific, Measurable, Achievable, Realistic, Time-based.
Not only is it the start of a new year but it is also the start of a new decade so maybe I should compile a list of financial targets for the decade. I’ll give it some thought but in the meantime without further ado except to say Happy New Year, here is my list of financial targets for 2010.
1.Continue to overpay on monthly mortgage payments – payment due is £326, continue payments of £350, so that annual overpayment is approx £290 by the end of the year
2. Maintain elec consumption at present rate of payments - £26 / month
3. Continue to pay £20 / month into esaver for emergency fund (car / house repairs, sudden bills etc)
4. Open ISA and make monthly payments of £20 towards mortgage capital repayment – aiming to have paid in £240 by the end of the year, not alot I know but small steps...
5. Stop smoking (and save myself approx £20 per week from going up in smoke – possible annual saving of nearly £1000 if I stop smoking at New Year) – pay the money saved into ISA
6. Follow up Warm Front application, and install stove in place of open fire in living room
7. Produce Business Plan for self-employment and start trading
8. Find part time job to support myself whilst starting self-employment
9. Continue to pay off visa card debt at £35 / month – current debt approx £550, aim to reduce this to under £200 by end of year
10. Investigate solar power water heating options to reduce use of electric shower during summer when wood burner in kitchen is not lit (wood burner has back boiler for hot water, therefore no hot water during summer if the stove is not lit)
11. Save £1 and £2 coins in sealed jar – aim to fill by end of year
There is an extra target this year – I have added number 11 as I did actually do this last year and my sealed jar is nearly full. I haven’t opened it yet but it weighs a ton and is the size of a tin of baked beans so I guess there must be between £100 and £200 in it. Whenever I have been out I empty all the £1 and £2 coins out of my purse into it – I don’t miss them and they soon add up and I estimate I have probably paid approx £3 per week into it over the past year. I’m dying to open it but am waiting until I can’t fit any more coins into it before opening. I’ll post on this thread how much is in there when I do open it.
Best wishes to all for a healthy, happy and debt free new year and new decade x
http://forums.moneysavingexpert.com/showthread.html?t=657733
Last year on 1st January 2009 I did the same with new financial targets for last year – you can see it here http://forums.moneysavingexpert.com/showthread.html?t=1389223
It would be great to see other people’s targets so feel free to post your own financial targets for the coming year on this thread or to comment on my financial targets. I’ve enjoyed keeping these threads going (although somewhat sporadically) over the past couple of years, and I must admit to a sense of pride when I sat down yesterday and realised just how much I had achieved over the past year. I hope this might inspire others to do the same so that even the smallest targets will feel like big achievements when you look back in a year’s time.
I see a target as being something to aim for - it's great if you hit it, but if you don't, just keep aiming at it and eventually your aim will improve. And don’t forget that a target must be SMART – Specific, Measurable, Achievable, Realistic, Time-based.
Not only is it the start of a new year but it is also the start of a new decade so maybe I should compile a list of financial targets for the decade. I’ll give it some thought but in the meantime without further ado except to say Happy New Year, here is my list of financial targets for 2010.
1.Continue to overpay on monthly mortgage payments – payment due is £326, continue payments of £350, so that annual overpayment is approx £290 by the end of the year
2. Maintain elec consumption at present rate of payments - £26 / month
3. Continue to pay £20 / month into esaver for emergency fund (car / house repairs, sudden bills etc)
4. Open ISA and make monthly payments of £20 towards mortgage capital repayment – aiming to have paid in £240 by the end of the year, not alot I know but small steps...
5. Stop smoking (and save myself approx £20 per week from going up in smoke – possible annual saving of nearly £1000 if I stop smoking at New Year) – pay the money saved into ISA
6. Follow up Warm Front application, and install stove in place of open fire in living room
7. Produce Business Plan for self-employment and start trading
8. Find part time job to support myself whilst starting self-employment
9. Continue to pay off visa card debt at £35 / month – current debt approx £550, aim to reduce this to under £200 by end of year
10. Investigate solar power water heating options to reduce use of electric shower during summer when wood burner in kitchen is not lit (wood burner has back boiler for hot water, therefore no hot water during summer if the stove is not lit)
11. Save £1 and £2 coins in sealed jar – aim to fill by end of year
There is an extra target this year – I have added number 11 as I did actually do this last year and my sealed jar is nearly full. I haven’t opened it yet but it weighs a ton and is the size of a tin of baked beans so I guess there must be between £100 and £200 in it. Whenever I have been out I empty all the £1 and £2 coins out of my purse into it – I don’t miss them and they soon add up and I estimate I have probably paid approx £3 per week into it over the past year. I’m dying to open it but am waiting until I can’t fit any more coins into it before opening. I’ll post on this thread how much is in there when I do open it.
Best wishes to all for a healthy, happy and debt free new year and new decade x
The independent woman's checklist for success :
1. Look like a lady, 2. Act like a man, 3. Work like a dog
Life instructions : 1. Breathe in, 2. Breathe out, 3. Repeat ad infinitum
[strike]2008 - £4k challenge member 063[/strike] gave up halfway thru, not sure I even earned that much, so probably achieved it 
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