Thursday, January 03, 2008

2008 Goals…

I didn’t really set any financial goals for 2007 because everything was in limbo with me finishing law school and taking the bar. Now that I am a licensed attorney, 2008 is my year to get my life in order personally, professionally and financially.

Annual goals should be S.M.A.R.T.

S - specific
M - measurable
A - achievable
R - realistic
T - time based

Here are my 2008 Goals:

 Secure law position and $30k-40k salary increase (Current Salary $55,000)
 Increase 401k contributions to 10% (Currently 5%)
 Pay off credit card debt (Current balance is $7,700)
 Improve net worth by $10k - $20k (Current Balance -$93k)
 Move to all cash/debt system
 Reestablish $2,000 E-Fund (Current Balance $0)
 Minimum of $500 in charitable giving (Current contribution $35/month)
 Save $7k towards $15k unemployment fund (Current Balance $0)
 Reduce student loan debt by at least $10,000 (Current Balance $210k)

I am setting very aggressive goals for 2008 but they are all contingent upon securing a law position with a much higher salary. I am working on it now. I am hoping to transition in to the Legal Department by the end of February.

No matter what, my Goals for 2008 will still include:

 Pay off credit card debt (Current balance is $7,700)
 Improve net worth by $10k (Current Balance -$93k)
 Move to all cash/debt system
 Reestablish $2,000 E-Fund (Current Balance $0)
 Minimum of $500 in charitable giving (Current contribution $35/month)

7 comments:

last in line said...

Good luck with your goals.

Dimples said...

Good luck girlie!

SavingDiva said...

Good luck with your 2008 goals!

calgirlfinance said...

Wow, good luck with your goals. Most of all, good luck with the job opportunity! I hope you're able to do an inter-company transfer!

change is a good thing said...

Excellent goals! I keep a copy of my goals in my purse so I can always take a look at them. It works to motivate me! :)

SavingDiva said...

You've got some tough goals to reach! Good luck!

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