It’s Been Two Months Since I Paid Off My Debt!
It’s been two months since I paid off my debt. I am saving 20% of my income in retirement and ESPP accounts before I even see my paycheck, and a little bit more with automatic savings. It feels pretty good, but not quite good enough, you know what I mean? My side income efforts have slowed down and I need to figure out how to get back into that. Setting goals since I started this blog has helped me tremendously, it’s almost uncanny that writing it down and focusing on it has helped me with so many things (paying off debt, finding a new job, moving to a new area to name a few). So I really need to figure out what my money goals for 2014 are. Goals related to money can be broken down into a few categories:
- Stuff I want to buy (consumption)
- Stuff I want to buy as assets (stocks, businesses, properties)
- Things I want to do (experiences, travel, education)
- Things I want to build (blogs, new businesses, do-good stuff)
Stuff I want to buy
In 2014, I need money to buy:
- DSLR camera
- A new laptop
Really not a lot of “stuff” on my list these days. I buy clothes when I need them and try to buy higher quality than I have been used to so it will last. My laptop is over 6 years old. It still runs well but a lot of video and apps have slowed down and it also heats up pretty fast. As in, my legs turn red if I put my laptop in my lap!
Stuff I want to buy as assets
Not counting the money I put aside from my paycheck, I want to increase my savings so that in 2015 we can put close to 20% down on a house. And that is a house with a yard, which, in South OC means at least $500K. Probably more. So that’s a lot of freaking money. In addition, I want to reopen my Etrade brokerage account, and invest in a handful of companies. However, it’s hard to start with just a few hundred bucks. I need to have a few thousand to make a first purchase of shares.
Things I want to do
Well, there’s a pretty big event happening in my life in 2014, so there are a lot of things in this category:
- Have our wedding in June 2014
- Go on a two-week honeymoon (location undecided) in June-July 2014.
- Take a 10-day vacation in November or December 2014.
Things I want to build
I just want to build stuff. Make stuff. Lock me in a room with some kind of metaphorical puzzle to figure out and I am as happy as can be. So in 2014, I should be well on my way on these things:
- Working on 2 other blogs I’ve been in the works with forever
- Take on another consulting project
- Get back into staff writing
There are other ideas in this category but I am getting a little overwhelmed so I am going to stop here for now.
Grand Total: ~$45,000
OK, so my money goals for 2014 include me setting aside $45,000 besides my living expenses and 20% savings. Or $3,750 per month or $121 per day. That seems like a LOT OF FREAKING MONEY and I am going to not freak out right now. I think I can do this. In fact, I can do more than this. Big goals keep us going right?
Are you planning for 2014 yet?