Goals and personal finance

I am a very goal-oriented woman. I love goals. I like making them, and I like working through the process of getting to the finish line of the goal. It's my nature. It's not other people's nature, though. Which, sometimes I find odd. ;-)

I have highly likely written about my goals for this year already, but I am working every week to make my goals a reality.

#1 Goal: Pay off credit cards by 12/31/09.

I'm pretty well on my way to doing this. Yes, part of my tax return helped. I've cut spending back to the bare minimum. Which, kind of sucks. I like to shop... but I like to be out of debt more!! haha. Progress to date: I have 6 (yes, 6) credit cards. As of tomorrow, 3 of them will be paid off! The other 3 had larger balances, so it's going to take longer, but 2 of the 3 should be paid off by September and the last one by December. Whew. :)

My bigger deal, though, is the line of credit (against my house) I took out last year to help with my own credit cards (yeah, right) and Sister's divorce and credit cards... Ugh. That's a biggie. And, even though I have like 20 years to pay it off... I'd like to get it paid in the next 2 or 3. So, that's a bit more daunting. Lesson learned, by the way. Debt consolidation can hurt you... by giving you more debt if you're not careful! Of course, it was the best option at the time, and I do not regret it.

Oh, and now the University wants to buy said house. Let's hope and pray I get enough to cover the house pay off and the line of credit. That would be very helpful. Very. I'm not sure when this house buying thing will happen, but it could happen as soon as next year, and I'd like to be prepared to buy another one.

Anyway, goal setting is pretty easy for me. I like making a plan. But I know others who aren't so good at it. I wonder during these times how they are going to make it. Because to get your money situation under control, you really need a plan. Dare I say it, a budget. Budgets aren't bad, actually. I never really understood that, or liked them until this year. They felt constricting.

However, I learned that you put yourself and some fun money IN the budget and it doesn't feel as constricting!! Yes, things might be tight, but you've got to allow (or at least I do) for some spending money, or you might go off the deep-end and spend too much!

For a couple of years now I've been putting other things first instead of my own personal financial freedom... So, this year, I'm trying to get back on the right track. Looks like I can make it, and I'm really thankful / grateful for that.

Peace.