My Goals For 2012

We’re already a quarter of the way into 2012, but I still have some pretty big goals to fulfill this year. Thank god I already started saving up a little bit, because otherwise it would be a little depressing to be starting from scratch.


  • Pay off credit card #1 by April 30th.
  • Pay off credit card #2 by September 30th.
  • Net worth to $5000 in the black
  • Open an RRSP and contribute at least $10/paycheck to it
  • Any money left over in chequing after a pay cycle gets transferred into a separate savings account for travel, school savings, etc.
  • Quit smoking!

The most important thing there besides the debt payments is getting my net worth to $5000. That’s what I could have saved EASILY if I’d gotten off my ass last year and stopped digging myself into debt. Is it possible to get my net worth from -$2861 to $5000? Yes. Will it be easy? Nope. I predict that once I get out of debt I’ll try to rationalize spending more with “Aw, but I’ve come so far! If I’m not using credit cards, what do I have to lose?” So if future Meghan is reading this, trying to justify a pair of $400 shoes by looking at how far you’ve come, you have nothing to lose- except financial security, independence, and advancing your education without having everyone else pay for it. Grow up, and save the damn money.

My savings plan is simple.

I have 13 paychecks between March 14th and September 30th.

$2600 saved (13 x $200)

Once my debt is paid off in September, I’m going to roll the money currently applied towards debt into what I’m applying to savings.

I have 7 paychecks between Sept 30th and December 31st.

$3500 saved (7 x $500)

Total = $6100 (though I’ll probably budget around $500 for Christmas- my family is BIG and close)

So at the end of the day, I’m looking at potentially $5600 saved. If I can I’ll do more, but this is my bare minimum of what I’m hoping for.


  • Quit smoking! (Has anyone tried Champix?)
  • Only have fast food twice a month, or once a pay period
  • Ride my bike to my boyfriend’s house instead of taking cabs
  • Get 12 more credits towards my diploma

The big goal here is more credits. That’s basically 4 classes a semester. I’ll go into more detail about my education another time, but as of right now I’m about 1/3 of the way through an Accounting diploma. After that’s done, I’ll be in school another 5 years, minimum. I’m trying to speed myself up a bit so that I don’t end up 30 years old with a baby on one knee and a textbook on the other. Plus, need I mention that it gives me more earning power? I’d rather over-exert myself with a lot now than be pulled in 50 different directions with school, work, family stuff, and everything else later.

Any feedback?


6 responses to “My Goals For 2012

  1. Congrats on working your way out of debt. I don’t know where you live but where I am cigarettes are $10+/pack so quitting smoking would mean big savings to most smokers.

  2. I’m glad quitting smoking is on your priority list, because that habit will cost you more than what your paying for the actual cigarettes further down the line. I know you probably already know this. But taking care of your health overall is going to save you loads of money throughout your life!! I mentioned in my blog that I paid way to much for groceries/ month, but I know on average I’ll still be paying more than most people, because I buy a lot of things that are super healthy and organic. To me that extra few bucks is worth it, especially when I pay for my own health care. If I had pre-exisiting conditions, my premium would be through the roof. Anyway, I hope you have success with that!!! 🙂

  3. OMG That is so going to be me, 30 years old working on a degree and trying to figure out if I want a kid. ( At this time I’m not sure yet.) I already have one degree but I need to finish my BA. Le sigh. I’m such a procrasinator.

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