2011 – The Plan, Happy New Year everyone!

Happy New Year!

First of all, Happy New Year! I hope you all were able to accomplish your new years resolutions and I hope you have a fantastic 2011.

Phew! I think I finally have most of the blog moved over. Some of it was automatic but other things were not. If you’ve followed me from my old blog or if you’re new; Welcome! I do hope you’ll stick around. =)  Now back to the scheduled blog post!

With 2010 coming to a close it’s time to set some goals for the coming year. I want to accomplish A LOT financially while also inching closer to my degree and taking an overseas trip. Will I manage to do all of it? I guess we’ll find out soon enough!


2010 was an interesting year. A lot of stuff happened: I paid off my credit card once and for all. I started a blog. I discovered a lot of other cool blogs. I opened multiple savings accounts and started saving again. I read personal finance books. I finally started going back to university to finish my degree – and will graduate sooner or later without a massive student loan. I set up a budget. I had my own little vegetable garden and grew potatoes for the first time. I lost 20 pounds and I learned a lot about money this year. I learned to spend less than I earn. I’ve grown this year, spiritually emotionally and financially. I can’t wait to start a new year to see what else I can accomplish!

The goals in order of importance:

1. To complete at least 4 more courses for my degree. I’m currently planning to take one or two courses beginning January, two or three during the summer and one or two in September. I am waiting on information from the University and a waiting list to make my final decision

2. To have a total combined savings balance of $3,000 or more, by Dec 31, 2011. (will be mostly for 3-6month e-fund) (this excludes my trip fund, see goal #3) My current combined savings total is $1,131.49. in order to achieve my goal I need to save another $1,868.51 or about $156 a month. This is much less than I am currently saving, because I am planning for goal #3;

3. To make a trip overseas to visit family and friends. I expect this trip to cost me about $1,500 including airfare so I need to add $175 per month for the next 6 months to my trip fund. Some of my family members are getting older and this will be my third trip to see them in 9 years. I can’t postpone or I may not ever see them again so it is important that I do my best to reach this goal.

2. Have a student loan balance below $10,000 <- Ambitious? Yes, but I’m going to try anyway. As of December 21st I owed $15,551.28. This means I need to knock $5,552.29 off this loan, or about $500 a month (including interest), by Dec 31, 2011.

4. To keep making one extra mortgage payment of $100 per month. Dave Ramsey states on his website that 97.3% of people don’t systematically pay extra on their mortgages. I have made 6 consecutive extra lump sum mortgage payments every month since August. I fully intend to keep doing this monthly in 2011.


5. Have a net worth above $18,763.51.19. Why so precise? Well, that number is my current net worth (9,918.71) with goals 1 – 4 added to it. I will not be able to achieve goal 5 if I do not achieve goals 1, 2, 3, AND 4. It would actually be really cool to round off the year with a net worth of more than $20,000. I will see where things stand in July to make that my goal. I have taken a closer look at my actual monthly income; Theoretically I should be able to achieve every single goal AND renovate my bathroom( NEED, not want!), fix my car and live comfortably. I think in the coming months I need to take a very close look at my spending patterns so that I can succeed and excel in my 2011 plan.

Hopefully come end of December 2011 I can look back to this post/page and happily tell you that I’ve achieved every one of the five goals! Do you have any goals for the new year, financial or otherwise?

Related Posts Plugin for WordPress, Blogger...


  1. Great goals! Good luck on reaching all of them! 🙂 My plan is to graduate in December next year, and even though I’m sure I’ll miss school, I cannot wait!

  2. Thanks, good luck to you as well 🙂 I see you’re doing the working-and-trying-to-finish-school-up-at-the-same time-thing too… it’s going to feel weird when you’re done I think! Long journey but totally worth it

Leave a Reply

© 2017 Nickel by Nickel

Theme by Anders NorenUp ↑