1. Increase emergency fund from $15,000 to $17,500.
2. Add $9,500 to my retirement with an overall goal of having $20,000 in retirement savings by the end of the year.
3. Pay an extra $100 a month on the mortgage, with an end goal of having the balance under $210,000 by the end of the year.
4. Save $2,500 into car replacement fund with the end goal of having $5,000 in the car replacement fund by the end of the year.
5. Pay off furniture I bought before expiration of 0% financing period. Will blog about this later in a separate post.
6. Read 12 books
7. Write a book
8. Lose 10 lbs
9. Donate $200 to charity
10. Get more life insurance
11. Build a separate car maintenance fund.
12. Look into and focus on career options.
A few thoughts:
This list represents an internal battle that I am experiencing. I thought that a $15,00 emergency fund would be make me feel comfortable. It does not. However, $15,000 does represent about a 6 month bare bones budget for me. As much as I want to increase my emergency fund, I also need to work on other financial goals, retirement, car replacement, etc. So I have decided that every year I will increase my emergency fund by some amount. In 2017, I will increase it by $2,500 which equates to one month of bare bones expenses for me.
I won't have much in the car replacement fund by the end of the year, but I'm hoping not to have to replace my car until at least 2019. (Fingers crossed- by that time it will be 13 years old). Once I get closer to replacement time I will increase my car replacement savings. I hope to have at least $15,000 cash by the time I get a new car.
I really need life insurance in case I die. Otherwise my sister will not be able to continue living in the house that I purchased in 2013. I do plan to leave the house to her. I guess I should also add, get a will to my goal list for 2017.