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Publishing my yearly goals last year definitely made an impact on the outcome. Just knowing I told all 50 readers (and that it was in the archives) kept them in the back of my mind well past the first month! With that kind of success I definitely wanted to do the same thing again.

In thinking about my plans for the coming year, I realized I hadn't set SMART goals. This led to mixed success on my financial goals and you'll see the same ones this year but with more detail.

Become Debt Free

My non-mortgage debt number was $49,601 when I totaled it during one of our first Financial Peace University classes. After 20 months, it is down to $24,000 which is all in a student loan. That loan is so old it would be a teenager if human!

To pay off this loan before the end of 2011 requires supplemental income from my blog. I've been averaging $500 a month the second half of the year so I think it's a safe bet.

Financial Goal 1: Pay off $24,000 in non-mortgage debt by December 31, 2011.

Estate Planning

This is the goal that my husband and I failed in this year. We were supposed to at least prepare wills. I did buy the forms, but that is about as far as it went. Even though a study showed half of all Americans lack basic estate plans, there is no comfort in the company.

Financial Goal 2: Prepare wills for both of us in the first quarter 2011.


This is one of my strengths as I prepare a budget every month. So, you're probably wondering why it is on the list. The problem is that I slacked off in monitoring the last few months. I spent more than planned as a result.

I need to get back to weekly reconciliation of expenses and income against the planned budget. It doesn't take too much time and will definitely help me be sure to reach goal 1.

Financial Goal 3: Prepare monthly budgets and reconcile every weekend.

You'll be able to keep track of my progress throughout the year with quarterly updates. If you haven't already, write down goals for your money and make sure they're SMART!

Photo Credit: i_yudai

About Kay Lynn

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