American Debt Project HomepageAmerican Debt Project

Pay off debt and live your life. Don't compare, contrast.

  • Debt Update
  • Get Out of Debt
  • Government
  • Income Inequality
  • Investing
  • Self-Development
  • Frugal

It’s Been Two Months Since I Paid Off My Debt!

October 21, 2013 by Justin Weinger

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?

Filed Under: Debt Update, Get Out of Debt

Follow @IAmDebtProject

Gone But Not Forgotten

Where My Blogs At

Edward Antrobus
Add Vodka
AllThingsFinance.net
My Family Finances
Money Spruce
Daily Tips Blog
Fearless Men
Make Money Your Way
Mr. Money Mustache
So Over This
Thirty Six Months

Disclaimer

I am not a professional or a financial advisor. These posts are informational opinions only. Please make your own decisions based on personal research. Also, there are paid links on this site. There is no obligation on your part to purchase any products advertised on this website.
© Copyright American Debt Project 2011-2015. All rights reserved.

Copyright © 2019 · Lifestyle Pro Theme on Genesis Framework · WordPress · Log in