Hey all. I’m finally done traveling for a while, at least until March, I think. In between going to see my family for Christmas and traveling to Phoenix to watch my beloved Alma Mater lose in the Fiesta Bowl, I had some time to put together a goal sheet. I first wrote my Overall goals for 2013, which includes some of the same goals I’ve had since I learned what New Year’s Resolutions are: lose weight and pay down debt.
Every year the same goals—last year I did manage to lose about 15 pounds, but the debt front has been a little more stable.
However, this year is starting off with a bang on both the weight loss and debt fronts- I am starting Tina’s Best Body Bootcamp tomorrow (I already did my fitness test this AM) and I WON a Macbook Air in a contest from OtherInbox.
While tech geek Kelsey wants to unwrap the Air and sleep with it at night, I know that this needs to be the year that I finally rid myself of credit card debt- for good. So I will most likely be selling this beloved Macbook Air and have also put a few of my gently used electronics up for sale on eBay, hoping that this can generate some extra revenue to get the ball rolling on my debt. I calculated some of the revenue from items I’ve sold so far and the estimated selling price for the Macbook, and it already knocks a month off my credit card debt-free deadline—making it June 2013.
The only other debt I have besides cc is my car, which I got this year, and my student loans. (Oh, and my mortgage, but that amount is so many numbers I just tend to push it to the corner of my mind for now)
Those pesky student loans have been following me around since I graduated in 2008. While many people take ten years or more to pay them off, I never wanted to be one of those people. That means I have until I’m 31 (21+10=31) to shed those like the baggage they really are.
So I’m giving myself this year—2013—to really put my whole heart into pay off debt. With the monthly allowance I’ve set for debt, I could pay off 48% of my total debt (minus our lovely mortgage) in just one year!
After that, I will scale back my efforts about 25%, but will still be able to get it all paid off before I’m the dreaded 31.
I have made specific milestones for each month for my goals and am setting specific stuff to make it happen, such as:
- Take out $25 weekly food/fun allowance each Sunday for the week. When that money runs out, so does my reasons for eating out or buying something I probably don’t need. This doesn’t count Harry and I’s joint budget of $50/week for groceries/toiletries that I set via Meal Planning.
- Continue to sell things I don’t need or use, like electronics, clothes, books, etc.
- Re-purpose what I already have instead of buying something new. Maybe that vase would totally give the guest room a new look!
- When I want to buy something, get the best deal I can—e.g. Salvation Army, online, Habitat for Humanity ReStore, etc.
- Possibly go on a spending fast for a few weeks—still reading up on this
- Read more books on spending and wealth. Currently reading “The Cheapskate Next Door” (aff. link)
- Keep utilizing the library for ebooks, books, movies, and CDs.
- Keep giving back! Giving wealth attracts it!
What are your New Year’s Resolutions? Or do you think they are bogus?
PS Don’t forget to enter my giveaway for a $30 gift card to Rent the Runway!