Looks like I'm gonna need a new list!!
Here is my financial checklist (July 2009):
1) Pay off land
That one's been marked off for a while now. Funny, sometimes I forget about it. I mean when there is no bill in the mail each month for it, its easier to slip your mind.
Jay and I aren't sure we're going to build on it any more. We love our current house so much (and got such a good deal on it) we're considering making it our forever home. If that's the case we'll have to do some updates (adding a garage, completely revamping the bathroom, buying the neighboring lots).
For now, we're hanging on to the land, just in case.
2) Get life insurance
Done. We were already working on that when I created this list. Now I don't have to think about it any more until the bill shows up in my mailbox once a year.
3) Open a Roth IRA
This was the most recent item marked off the list. We did it April of this year, right before the tax deadline - which is also the deadline to contribute money to retirement funds for 2009. We decided that way would leave us open to adding more for 2010, but that if business for Jay wasn't as good we would still at least have retirement started.
4) Save for a down payment for a house
As you know, we not only saved for a house - we've found one and are settled in.
Okay so now that Fiscal Year 2010 is wrapping up and FY 2011 is starting (at least at my work place) I'd like to set some goals for the coming year.
1) Save up the cash for a bath remodel
I'd like to rip out the jetted tub & tiny shower in the master bath and replace it with a claw foot tub. I hate that tiny shower!
2) Fully fund our Roth IRAs for 2010
3) Save up for a new vehicle for Jay
Hopefully his Durango has a bit more life left in it, but its not a spring chicken, and he's hard on vehicles. Dave Ramsey says never buy a car from a Real Estate agent and I agree with him! (Unless of course, you're interested in a Maroon Dodge Durango with over 150,000 miles on it.)
4) Begin to pay off our home early
Jay and I have a 5 year goal of having our house completely paid for. That's a lofty one. It would mean saving up $20K each year just to put towards the house (not including retirement, vacation, or other savings).
Dream big right? After all most people thought I was crazy jumping from a 5K to a half marathon and I pulled that one out. Maybe, just maybe, we can make this one work too.
How are you doing with your financial goals. You do have goals. Right? Talk to me!