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2016 Goals

December 21st, 2015 at 03:22 pm

2016 is full of uncertainties.

We are really wanting to do a home addition next year which is going to cost upwards of $30k+. But it's not set in stone yet, especially with our recent unexpected expenses. Getting a loan for that amount is no problem, and the payment will be easily managed. But I do not feel comfortable having so much debt at one time. So the remodel will probably depend of how much debt we can knock down in the next few months.

So for now our 2016 will be:

1.) $1,000 in Animal Fund
2.) Pay off Computer
3.) $7,000 in Roth
4.) Pay off LOC
5.) $2,000 in Truck Fund

Animal fund is the biggest priority. Considering I have a $500 windfall coming in the next few weeks, and I have quite a few kids due in the spring it shouldn't be a problem. There will be no more fencing or housing expenses to eat up my profit this year. It's all done.

The computer needs paid off. It's a 0% loan, but it's consumer debt and it needs to be gone before we add anymore payments.

Still want to continue adding to the Roth. My goal is to add $2,500. The same as it was this year.

LOC is up again from the furnace and fencing. But the furnace was going to be considered as part of the remodel, so we may just roll this loan into the remodel loan when the time comes. We will still try to pay it down as much as possible beforehand. Any we pay down or save will give us more wiggle room in the remodel budget.

Save another $1,000 for a new used car. Husband had his heart set on a truck, but if we are serious about the remodel we won't be able to afford both. We are going to continue to save for it, and most likely he will purchased another used jeep which would be half the price of a truck.

Overall we want to save for the necessities, and pay down what we can. In a perfect world we would also start putting back some cash for the remodel. But we will have to wait and see how it goes first.

3 Responses to “2016 Goals”

  1. Ima saver Says:

    Good luck on your goals!!

  2. FrugalTexan75 Says:

    Sound like good goals!

  3. VS_ozgirl Says:

    Good luck Smile

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