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)