So, as you can see from my previous posts, I do have quite a bit of consumer debt (approx. $25,000). Luckily, I’ve been able to allocate a decent percentage of my income to savings goals by keeping my expenses relatively low. However, although challenging given my limited income, I am confident that I can achieve the following goals:
- Open a taxable account in a discount brokerage firm with $2,500 by 3/1/2015.
- Allocate at least $400 per month to my taxable account.
- Hold a portfolio balance of at least $6,500 by 12/31/2015.
- Allocate an extra $50 per month to my car loan principal.
- Bring car loan balance down to less than $4,800 by 12/31/2015.
- Allocate 6% of gross income (currently at 4%) to company 401(k) to get full company match.
- Sign up for a 5K run by April 2015.
- Completely remove pork and beef from my diet by 12/31/2015.
- Give at least two hours of my time every month to helping someone in need.
- Donate at least $50 every month to church or a reputable charitable organization.
- Allocate $50 per month to my travel fund.
- Take at least 4 local, stateside, or international trips by 12/31/2015.
There you have it; my 2015 goals. Obviously, I included not only monetary goals but also time allocation and experience building because, believe it or not, your TIME is an investment. You must make sure you are getting the best return on how you’ve invested it. More on that later!
The past two years have been great because I have started to learn the tools and tricks I needed to get to where I am today. Although I have much farther to go in gaining financial independence, I believe 2015 (in addition to what I learned in 2013 and 2014) will be the key year where I really push forward and accomplish really amazing things.
What do you think? Let me know some of your goals below!