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2009 Game Plan

January 1st, 2009 at 03:01 pm

2009 Goals and Game plan:

Immediately:
1. Bank one source of income.
Our household currently has 3 sources of income and with the big move in February we might possibly get 5 sources of income. Though 1 source will be lost for a time while BB builds up a new lesson client base. With all these income sources I really want to just save one entire income and not allocate it to savings for anything. In 2009- I am starting small. EBay. Right now, eBay is our second largest income producer, but once we move I think it will become our smallest. So starting TODAY- all money earned from eBay stays in my pay pal money market account and WILL NOT BE USED IN 2009. (That's a scary declaration to make.)
*So in 2010 we should have $3,000+ in eBay money market.

2. Pay extra on our mortgage. My goal is to pay off the mortgage as soon as possible but with this being our inaugural year in the house I will start small. An extra $50 a month will create one extra mortgage payment. So that's the goal for this year.
* So in 2010 we should be used to the extra $50 a month and be ready to pay an extra $100 a month.

Top Priority (Feb/March):
3. Get a job. With eBay no longer providing a major income, I will be forced to get off my lazy ass and get a job. I am moving to a new city where I will permanently reside, we have a house to pay for- no more excuses Gamecock. Once unpacked, priority number 1- look for a job.
*Better be full time employed come 2010.

When I can/Some point this year:
4. Save rental income from unit #1 for eventual renovation of unit #1. My rental unit in CA is pure 1970's. I was planning to renovate the unit once my tenant vacated and either sell the unit or rent it for a better rate. However, the $$ I was going to use for renovations became my down payment money on our first house.
The tenant has resided there for 5 or 6 years now and seems to have no intention of leaving. Now that the renovation money has been spent I need to start saving again because she is eventually going to leave. Currently I depend on the income to live, but once I have a job I can then put the rent checks into a "Unit #1 renovation" savings account.
* Hope to have $6,000+ saved for eventual renovation.

Once we are moved into our house:
5. Start saving for home improvements. I have not researched the costs involved yet, but would like to get these big ticket items accomplished in '09 or '10 so better start saving/planning. In order of my preference, we want:
1. A back deck add on to the house.
2. To enclose and landscape the backyard.
3. A new kitchen.
BB has promised to send $1,000 a month during the baseball season to save for home improvements. However- he has a very very poor track record for following through on promised payments-so I am not going to plan for his money right now.
Our mortgage, taxes, insurance is covered by rental unit #2, leaving me to handle utilities and bills. But once I have a job I will be able to allocate a large percent of my take home pay to savings for these items. IF BB sends home the $ he promised, we might get 2 out of the 3 done this year.
*Hope to have $10,000 saved for these improvements by 2010.

Other things to do in 2009:
Get umbrella insurance
Stay out of credit card debt
Save $2,000 for a new car for BB- his truck has 120,000 miles on it.
Build/maintain $4,000 emergency fund
Maintain spending/tracking logs
No credit card debt.
Have become smarter/more efficient with money.

I am sure there is more- but I am just overwhelmed by what I already wrote. That seems big enough for one year.

5 Responses to “2009 Game Plan”

  1. Ima saver Says:
    1230826370

    I wish you luck!! I bet you can do it!!

  2. whitestripe Says:
    1230839321

    good luck Smile

  3. frugaltexan75 Says:
    1230840610

    Those sound like good goals.

    My grandma was telling me today that she'd heard that a good tip for people looking for a job is to volunteer in various places. Essentially, get out in the community and rub shoulders with as many people as you can.

  4. Ms. Pearl Says:
    1230840998

    Please post pics of your pretty house! Good luck this year!

  5. Amber Says:
    1230844922

    Good luck

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