Friday, December 21, 2007

The Car Repair Fund & Other $$$ Goals for 2008

With little fanfare and lots of honesty, here are some of my goals for 2008:
1. Income: 225 percent increase
I've started working as a stringer (freelance reporter) for Money magazine and Florida Trend. I will continue to look for additional sources of income.

2. Establish Car Repair Fund: $1,200 yearly or $100 a month

This is a top-priority. The family car was replaced this year, but not before three-rounds of major (big-ticket!!) repairs busted the budget. We have a newer used car, but I'm budgeting for repairs.

3. Florida 529 college plans for my elementary and middle-school children.
4. Vacation Fund: $1,200 yearly or $100 a month

5. Emergency Fund: Increase by 500% percent

Other Goals:

1. Write 500 words of fiction/poetry or creative non-fiction per day

2. Shorten the to-do list; but complete more items on that agenda

3. Arrive on-time for appointments and assignments

4. Spend more time with my children and extended family

5. Increase blog traffic by 300 percent.

6. Write letters to friends & family

7. Relax, meditate & pray more

8. Stay in the moment

9. Be grateful

10. Laugh more
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Marcus Aurelius said...

A car repair budget is a fantastic idea. We had one, but a family emergency half-way around the world forced us to dip into the car-repair fund and it has yet to recover.

In the past I have had a set of tires, and a $900 repair covered by my car repair budget, it was very nice having that fund.

Right now, auto & home owner insurance funds are my top savings priority, I had to borrow from savings so I am making good on the savings borrowed and making sure when the next insurance bills come due we have that covered from dedicated insurance savings.

Frugal Duchess said...

Hey Marcus:

Your planning sounds great. I've even read about setting up a savings account for restaurant meals.

That's so cool that you have a dedicated insurance savings plan.

Thanks for your insights.
Best wishes,