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Goal Assessment & Plan of Attack

July 8th, 2014 at 11:25 am

After Snafu had a thoughtful comment, I though it would be easier to reply into a new post.

The first half of the year is over... So how am I doing?

Roth IRA: A+
Completed this goal early in the year, and hope to do so again next year!

Fencing: C
Getting started today, so goal will hopefully be completed soon. The money is going to be an issue, but I will talk about that later.

EF: F
Boooo. I have only added $200 this year to my EF. Shame. Life happens though, and other things took priority. It is still my main savings goal, after debt is cleaned up.

Animal Fund: C
I am not even close to completing this. But I havent sold any goats yet, and I actually did have $1,000 in there... I just used it to buy more goats. So I dont want to be too hard on myself.

Mortgage: A+
Doing fantastic!

So thats the bad news. Things happen, at the beginning of the year I had no intention of driving over $2,000 miles to buy goats, and I had never thought that the engine in my car would die.

It doesnt look like I have made much progress with my goals so far, so where did all my money go this year?

Well I bought 3 new house windows, replaced a car engine, bought a new car, went on a great vacation, bought 3 new goats, did some house projects, paid sky high propane bills, bought some furniture, and a ton of other little things.

If you look at it that way, my money has been put to a lot of use! So what about my goals? I still want them! Looking at our budget, there is no way we will be able to complete my current goals, and pay off the LOC, and the car. But I have a plan to get as close as I can.

The Cobalt is running well, and I miss it horribly! I keep having 2nd thoughts about keeping it, so Father-in-law took it to his house and has it parked out by the road for sale. I have to replace the windshield and then I will list it on the internet and everywhere I can think of.

According to our current debt, future expected debt, and goals, I need to drum up about $12,000 this year! Ouch!

Here is how I plan to accomplish this.

Sell Cobalt for $3,500.
I am still owed $300 for freelance work.
Normal savings will give me another $2,500.
I have $1,900 in goats to sell right now. Some are waiting for pick up.
Husbands Christmas bonus. $500 to savings.

So it looks like I need to come up with another $3,300 somehow.

Freelance work will help the most. 4 more jobs would get me there. I have no doubt I can get at least a couple jobs, maybe more depending on my time of course.

The rest I will have to pray for a miracle, and work and save as much as I can.

So what is the order of attack?

Putting up fencing ASAP. Putting labor & materials on LOC.
Paying off car in 2 months.
Continuing to pay extra $30 a month to Mortgage.
Adding small amount to EF monthly after cars are settled. $200?
Applying all excess funds to LOC until it is gone.
Divert cash flow to EF.
Complete Animal Fund.

To keep myself accountable I have added my LOC total to my sidebar. It will go up tonight after buying fencing!

This is a big undertaking, but I am confident that with a little hard work, and sacrifice I can get there!

1 Responses to “Goal Assessment & Plan of Attack”

  1. Carol Says:

    I agree with snafu ; you are doing great! The advice to keep track of all business related expenses is incredibly important and will save you money in the long run!

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