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Taking a New Approach: My 2016 Goals

December 28, 2015

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In 2016, I'm revamping my budget goals based on my progress this year. What are your goals in 2016?

Whew! Christmas is over and the New Year is right around the corner, or just down the hall since it’s this week!!!

I’m not really sure where 2015 went and although I didn’t get all of my 2015 goals accomplished, I’m still proud of how far I came. I did get a few of them accomplished, including one of the biggest ones of all: quitting my job to work for myself.

This has made me so much happier overall and I can’t wait to see what 2016 holds for me and my business.

In all honesty, Carrie from Careful Cents was asking about business goals for 2016 the other day and I had no idea how to answer her. I felt that taking my business from part-time to full-time in 2015 was such a huge accomplishment for me that I had no idea what to even dream about for my business in 2016.

With a little more reflection, and some more conversations with influential people in the personal finance community, I’ve realized that I really need to reflect on that some more before I go hot wild setting my goals for the new year.

With that in mind, here are my goals so far, although some of them are still TBD.

  1. Increase emergency fund savings account to $2.000. This should be very attainable based on my income/earning from the past few months.
  2. Pay off all credit card debt. As of this morning, that is $7,280.59. Ideally, I’d like to pay off the loan to my parents in 2016 as well. That would bring the total up to $10,380.59.
  3. Attend FinCon16 and pay for it in cash!

Short, sweet, and to the point. I’m really going to try to focus more on these items (along with my TBD business goal).

In past year’s I’ve put things on the list like cleaning out clutter, etc. Now that I’ve spent more time thinking about it, in order to accomplish these financial goals I’ll have to do some of those things anyway so it’s redundant to list them and it gives me more things to track.

One thing that’s not my list above is my health. As you all know, I am working hard on that too. I really need to make sure I’m getting enough exercise and I’d like to lose some weight. But I’m keeping that separate from these goals for now.

Are you taking time to reflect and set goals for 2016? What do you want to accomplish?

In 2016, I'm revamping my budget goals based on my progress this year. What are your goals in 2016?

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23 responses to “Taking a New Approach: My 2016 Goals

  1. Great goals, Kayla! I’m trying to increase my emergency fund, too. I’d really like to have 6 months in cash by the middle of the year. I definitely want to continue growing my business, but I’m not sure when I’ll be ready to take it full-time. Happy New Year!

    1. That’s a great goal! I can’t wait to see how it works for you and when you decide to take your biz full-time. I don’t ever want to go back now that I’ve made the leap!

  2. I like that you highlighted a few goals that you want to really concentrate on. Sometimes we put together so many goals that we want to achieve that we aren’t able to sit down and really dive into them. Sounds like some good ones to concentrate on in 2016!

  3. Our goal has been in the works a long time, so it’s a no-brainer for us going into the next year. We are hoping to finish paying our mortgage in 2016 and thereby be completely debt-free. We have a variety of financial goals to pursue after that, and will need to prioritize those before we finish this goal, but we are pretty laser-focused on the first goal right now!

    1. My FitBit has helped me to be more aware of my movement (or lack of movement) so hopefully that will help my health this next year.

  4. Hi Kayla!! These are great goals and I have no doubt that you will accomplish them ๐Ÿ™‚

    My biggest two goals are to purchase a rental property and to REST, haha. 2015 was super busy for me, and I’m honestly looking forward to spending more time on the things I love, especially spending time with my girls!! They are only little once ๐Ÿ˜‰

    For business, I’m starting another blog. I know, I know. Kind of the opposite of resting, but blogging doesn’t feel like work and I intend for this new blog to be completely stress-free!

    Best of luck on your goals! Thank you for sharing ๐Ÿ™‚

  5. Great goals!

    This year is weird for me. Since I paid off my student loans this year, I have no debt related resolutions! I’ll probably re-use my one from last year, and the year before, and the year before that… get in better shape.

    1. Thanks girl! I can’t wait to see you. We need to plan a weekend visit sometime. It’s not that far away from my hometown to yours. ๐Ÿ˜‰

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