Having goals helps to achieve something. If you never set goals, you are lucky if you get somewhere halfway. While I've created many (52) goals for 2012, I did not really think about the longterm. However, Michelle from Making Sense of Cents inspired me to think about a 5 year plan, and so far, I've come up with this:
2012
• Pay off €10,000 in mortgage debt
• Create a small emergency fund of €1,000
• Build towards an emergency fund of €21,000 (€3,000)
• Focus on renovating and decluttering
• Finish the rest of my 52 goals
2013
• Finish renovating
• Build towards an emergency fund of €21,000 (total €10,000)
• Pay off €11,000 in mortgage debt
• Save €1,500 for retirement
2014
• Pay off €16,000 in mortgage debt
• Complete emergency fund of €21,000
• Save €3,000 for retirement
2015
• Pay off €16,000 in mortgage debt
• Save €5,000 for retirement
2016
• Pay off €16,000 in mortgage debt
• Save €6,000 for retirement
And somewhere along the way:
• Take another great holiday to the US (costs approx. €3,000 per person)
• New car for BFF (costs approx. €8,000 + trade in of old car)
• Get a greenhouse (I've seen a real beauty, but it is €1,100...)
• Work less, earn more
I plan on checking this 5 Year plan every year, so I can adjust it. If we haven't finished renovating in 2014, or finish early, it impacts other financial goals.
Do you have a 5-year plan?
Good luck! I'm sure you will be able to complete all of these.
BeantwoordenVerwijderenI don't have a five-year plan because I'm too busy focussing on one year at a time - making sure it's not too chaotic. I think looking forward more than one year is a bit frightening....kinda tempting fate that you're still going to be here in five years. But then I'm THE most superstitious and fatalistic person you could ever meet lol!!!
BeantwoordenVerwijderenK xx