2011 was an amazing year for our family.  I quit my job, my husband secured a post-doc position, and we began to aggressively pay down our debt.  We are still deep in the financial trenches, recovering from my husband’s long haul to earn his Ph.D. and our decision to have two babies back-to-back.  However, we both feel optimistic that our income will continue to increase and our lives will continue to improve.  To help facilitate our progress, we are setting goals for 2012, which I will update monthly with our progress.

–Pay off our credit cards.  On target, still progressing.  Our goal is to be credit card debt free by October.  Since I set these goals on January 4th, we have paid off another $2,233.52, giving us a current balance of $13,582.3.  If we continue at this rate, we are on target to meet our goal.

–Pay off my student loan.  Progressing.  My student loan is currently at $6,010.80; we plan to pay this off no later than the end of 2012, although ideally sooner.  I need to pay off all of the credit cards before I can begin attacking this debt.

–Make $30,000 in online income in 2012.  On target, still progressing.  I have joined the Online Money Bloggers and have made it my goal to earn $30,000 in online income this year.  In January, I earned $3,811.33, so I am on target.  In addition, last month I started my new blog, Fiscal Phoenix, and I have just released my eBook, Mom’s Dining Out Deals.

–Snowflake at least $750 a month on debt.  On target, still progressing.  In January we snowflaked $2,020.45!  February might be a bit more difficult because we are saving for a conference my husband has to go to out of town.  However, if we can hurry and get our tax refund completed, it might be possible.

–Sell $1,000 of stuff around the house.  No progress.  I have some items downstairs to sell, but I haven’t done so yet.

–Learn to use coupons strategically to lower our grocery bill.  No progress.  I have been so busy working and generating extra income, I just have not had time to do this.  I still hope to do it, but right now I am more motivated to eat basic meals and work extra.

–Lose 25% of my body weight.  In progress, needs improvement.  In four weeks, I have lost 2.5 pounds.  While that is something, I need to lose more than this monthly to reach my goal.

–Get 7 to 8 hours of sleep a night.  Some progress, needs improvement.  I have been getting 7 to 8 hours sleep a few nights a week, but I am still typically running on 6 hours of sleep a night, which is not enough.  I must improve in this category or it affects all of the other categories.

–Send my daughter to Japanese school.  At a standstill.  As I mentioned previously, one motive for our big, hairy, audacious goal is to send our oldest daughter to Japanese school no later than June of this year.  However, we are currently at a standstill on our decision.  We really want to send her there because the education is excellent, and we sent our oldest child there.  However, I am having a very hard time justifying the expense.  We may be able to afford to send her there, but that would leave us little money to save for retirement, a house, and a replacement vehicle.

I’ll update these goals on a monthly basis, at the end of the month.

What are your goals for the new year?

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