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May 3, 2024 03:04
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
- I work a side job as a football official during the fall and we are paid in a lump-sum at the end of the year. I have received one of my two checks for 2015 already and expect to receive the other before the end of the year. Between these two checks, I should be able to pay off most, if not all, of this credit card. The card is already closed so the only additional debt that could be added to this is interest charges. Target Completion Date: January 31, 2016 or sooner.
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
- After paying off Credit Card #1, this will be my priority because should something happen to the car (accident, major repairs, etc.) I don't want the loan hanging over my head. Blue Book value on the car is roughly $3200 so while it is underwater, it isn't by a lot. I do not intend to buy another vehicle in the next five years as the current vehicle only has 115,000 miles on it and it's a Honda. Target Completion Date: May 30, 2016 or sooner.
3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
- After paying off the Car Loan, this will be my priority because student loan debt is generally not able to be forgiven in case of bankruptcy, so if the worst were to happen, I would rather have this paid off sooner rather than later. Target Completion Date: October 31, 2016 or sooner.
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
- Realistically, this will only happen by the end of 2016 if my company commission bonuses fall within the high-end of the expected range AND I am able to hit budget goals for every month in 2016 while shooting to decrease expenses as compared to 2015. I do believe it is possible, though, if I stay accountable to myself and others (hello, BFC) and leverage the tools available to me such as YNAB which I have been getting used to over the past few months. Time will tell if this proves to be the case. Target Completion Date: December 31, 2016 or sooner.
2015 Net Income: approximately $55,000 (changed careers in July)
Expected 2016 Net Income: between $65,000 (no commission) and $100,000 (with highest-expected commission payouts)
Other 2016 Goals
- Update YNAB on a every-other-day basis or more
- Run 12 5K events in 2016
- Learn to be a better cook and drastically reduce eating at restaurants
- Move in with girlfriend
- Do not have a child or any other expensive habits/experiences 
Referee fucked around with this message at 08:04 on Dec 21, 2015
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Dec 21, 2015 08:01
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
- I work a side job as a football official during the fall and we are paid in a lump-sum at the end of the year. I have received one of my two checks for 2015 already and expect to receive the other before the end of the year. Between these two checks, I should be able to pay off most, if not all, of this credit card. The card is already closed so the only additional debt that could be added to this is interest charges. Target Completion Date: January 31, 2016 or sooner.
COMPLETED as of yesterday evening (1/1/2016) when I sent the last payment off to the credit card company. Done, closed, and out of my life forever! (I might have to throw like $20 more at it in a couple of weeks if there's interest on the previous balance that hasn't hit the account yet, but as far as I'm concerned, it's done.)
NEXT TARGET:
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
- After paying off Credit Card #1, this will be my priority because should something happen to the car (accident, major repairs, etc.) I don't want the loan hanging over my head. Blue Book value on the car is roughly $3200 so while it is underwater, it isn't by a lot. I do not intend to buy another vehicle in the next five years as the current vehicle only has 115,000 miles on it and it's a Honda. Target Completion Date: May 30, 2016 or sooner.
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Jan 2, 2016 20:05
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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End of January update (updates in bold):
IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
Target Completion Date: January 31, 2016 or sooner.COMPLETED 1/14/16 AND CLOSED! 
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
Target Completion Date: May 30, 2016 or sooner.IN PROGRESS- CURRENT BALANCE $3995
3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
Target Completion Date: October 31, 2016 or sooner.IN PROGRESS- CURRENT BALANCE $6977
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
Target Completion Date: December 31, 2016 or sooner.IN PROGRESS- CURRENT BALANCE $14357 (Interest charges and my last auto-pay bill that I forgot to move over- balance will be dropping beginning next week)
Other 2016 Goals
- Update YNAB on a every-other-day basis or more ON TARGET
- Run 12 5K events in 2016 ON TARGET
- Learn to be a better cook and drastically reduce eating at restaurants ON TARGET- Been using the crock-pot a lot lately and other than my vacation at the end of January haven't spent hardly anything on restaurants
- Move in with girlfriendON TARGET- This is a late-2016 thing
- Do not have a child or any other expensive habits/experiences ON TARGET
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Feb 4, 2016 02:22
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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February has been a frustrating month. Cash flow problems for my boss (not unheard of in real estate, but not ideal) combined with my unemployment running out and removing my safety net has not led to much progress. Throw in my father being diagnosed with stage 4 lung cancer and being in the hospital all month, making it difficult for me to get work done, and yeah 
Hopefully March will be a much better month. I haven't made much progress at all in February but on the positive side I haven't put a dime on a credit card and have adjusted my expenses to deal with the situation as much as possible.
/E/N rant
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Feb 25, 2016 23:08
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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August was a good month. In addition to the below, I paid back a loan not accounted for when these goals were made for $2,000, and paid my brother $1,250 for his half of the Jetta which also occurred after the goals were established. Down to two debt accounts!
IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
Target Completion Date: January 31, 2016 or sooner. COMPLETED 1/14/16
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
Target Completion Date: May 30, 2016 or sooner. COMPLETED 8/9/16
]3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
Target Completion Date: October 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $6,853.91
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
Target Completion Date: December 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $13,624.50
Other 2016 Goals
- Update YNAB on a every-other-day basis or more ON TARGET
- Run 12 5K events in 2016 BEHIND PACE- 2 OF 12 COMPLETED
- Learn to be a better cook and drastically reduce eating at restaurants BEHIND PACE- August was a little better but September needs to be a great month if I'm going to hit Goal 3
- Move in with girlfriend BROKE UP WITH THAT GIRLFRIEND- HAVE A NEW ONE BUT NO PLANS FOR CO-HABITATION YET 
- Do not have a child or any other expensive habits/experiences ON TARGET
September and October will be spent working a lot of football games so that the check I get for it in December will account for 50% or more of the student loan bill. Plus, the more I work, the less I spend. Goal 4 is looking like a 2017 goal at this juncture.
Referee fucked around with this message at 07:35 on Sep 7, 2016
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Aug 2, 2016 00:29
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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Went to quote my August update and somehow edited it. Dang it. Anyway:
August was a good month. In addition to the below, I paid back a loan not accounted for when these goals were made for $2,000, and paid my brother $1,250 for his half of the Jetta which also occurred after the goals were established. Down to two debt accounts!
IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
Target Completion Date: January 31, 2016 or sooner. COMPLETED 1/14/16
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
Target Completion Date: May 30, 2016 or sooner. COMPLETED 8/9/16
]3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
Target Completion Date: October 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $6,853.91
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
Target Completion Date: December 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $13,624.50
Other 2016 Goals
- Update YNAB on a every-other-day basis or more ON TARGET
- Run 12 5K events in 2016 BEHIND PACE- 2 OF 12 COMPLETED
- Learn to be a better cook and drastically reduce eating at restaurants BEHIND PACE- August was a little better but September needs to be a great month if I'm going to hit Goal 3
- Move in with girlfriend BROKE UP WITH THAT GIRLFRIEND- HAVE A NEW ONE BUT NO PLANS FOR CO-HABITATION YET
- Do not have a child or any other expensive habits/experiences ON TARGET
September and October will be spent working a lot of football games so that the check I get for it in December will account for 50% or more of the student loan bill. Plus, the more I work, the less I spend. Goal 4 is looking like a 2017 goal at this juncture.
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Sep 7, 2016 07:37
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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Update inline below. These last 45 days or so of 2016 are the biggest for me. With careful budgeting and a few breaks, I can come darn close to killing off my student loans with football officiating checks (approx. $4K) and income from year-end company bonus. I'm not going to force it though at the expense of the rest of my budget. If it takes until February, then that's how long it takes.
IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016.
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
- I work a side job as a football official during the fall and we are paid in a lump-sum at the end of the year. I have received one of my two checks for 2015 already and expect to receive the other before the end of the year. Between these two checks, I should be able to pay off most, if not all, of this credit card. The card is already closed so the only additional debt that could be added to this is interest charges. Target Completion Date: January 31, 2016 or sooner. COMPLETED 1/14/16
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
- After paying off Credit Card #1, this will be my priority because should something happen to the car (accident, major repairs, etc.) I don't want the loan hanging over my head. Blue Book value on the car is roughly $3200 so while it is underwater, it isn't by a lot. I do not intend to buy another vehicle in the next five years as the current vehicle only has 115,000 miles on it and it's a Honda. Target Completion Date: May 30, 2016 or sooner. COMPLETED 8/9/16
3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
- After paying off the Car Loan, this will be my priority because student loan debt is generally not able to be forgiven in case of bankruptcy, so if the worst were to happen, I would rather have this paid off sooner rather than later. Target Completion Date: October 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $6,587.98
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
- Realistically, this will only happen by the end of 2016 if my company commission bonuses fall within the high-end of the expected range AND I am able to hit budget goals for every month in 2016 while shooting to decrease expenses as compared to 2015. I do believe it is possible, though, if I stay accountable to myself and others (hello, BFC) and leverage the tools available to me such as YNAB which I have been getting used to over the past few months. Time will tell if this proves to be the case. Target Completion Date: December 31, 2016 or sooner. IN PROGRESS- CURRENT BALANCE $13,433.19
2015 Net Income: approximately $55,000 (changed careers in July)
Expected 2016 Net Income: between $65,000 (no commission) and $100,000 (with highest-expected commission payouts)
Other 2016 Goals
- Update YNAB on a every-other-day basis or more ON PACE
- Run 12 5K events in 2016 STILL ONLY HAVE DONE 2- THIS ISN'T GONNA HAPPEN 
- Learn to be a better cook and drastically reduce eating at restaurants GETTING BETTER- LAST TWO MONTHS WILL TELL
- Move in with girlfriend NOT HAPPENING UNTIL 2017
- Do not have a child or any other expensive habits/experiences ON PACE
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Nov 16, 2016 16:47
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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Keep up the good work dude, that's already a huge blow struck in favor of your net worth. Hopefully the macro-environment of your firm keeps your compensation robust.
I appreciate that. It's been a challenging year but still productive. The big thing has been changing my mindset so no matter how much money I'm bringing in, I can still pay down debt. Hopefully by summer, it will all be gone. I'll be in the 2017 goals thread too when that one shows up 
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Nov 17, 2016 03:04
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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I went ahead and did it as the 2016 version didn't really have any OP aside from the OP's goals, so I figured I could do the same. If someone wants to do a different one with more content in the OP, fine with me though.
Nah, I think this works
Link: http://forums.somethingawful.com/showthread.php?threadid=3801901
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Dec 16, 2016 20:18
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- Referee
- Aug 25, 2004
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"Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)
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Final 2016 update inline below. Not the best year, but made some progress and it looks like 2017 is setting up to be better.
IllegallySober's 2016 Financial Goals (AKA Operation: Freedom)
Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016. RESULT: FAILED- total debt stands at $17,129.33 as of today. Freedom not yet attained
1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%)
- I work a side job as a football official during the fall and we are paid in a lump-sum at the end of the year. I have received one of my two checks for 2015 already and expect to receive the other before the end of the year. Between these two checks, I should be able to pay off most, if not all, of this credit card. The card is already closed so the only additional debt that could be added to this is interest charges. Target Completion Date: January 31, 2016 or sooner. RESULT: SUCCESS- paid off January 14, 2016.
2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%)
- After paying off Credit Card #1, this will be my priority because should something happen to the car (accident, major repairs, etc.) I don't want the loan hanging over my head. Blue Book value on the car is roughly $3200 so while it is underwater, it isn't by a lot. I do not intend to buy another vehicle in the next five years as the current vehicle only has 115,000 miles on it and it's a Honda. Target Completion Date: May 30, 2016 or sooner. RESULT: SUCCESS- sold the car August 9, 2016, clearing the remaining balance on the loan and put the surplus into debt repayment.
3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans)
- After paying off the Car Loan, this will be my priority because student loan debt is generally not able to be forgiven in case of bankruptcy, so if the worst were to happen, I would rather have this paid off sooner rather than later. Target Completion Date: October 31, 2016 or sooner. RESULT: FAILED- paid off one of the two loans with officiating income yesterday, but have not received a year-end bonus at work which I was hoping would help take care of the other. Balance on the remaining loan is $3,539.21 as of today.
4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%)
- Realistically, this will only happen by the end of 2016 if my company commission bonuses fall within the high-end of the expected range AND I am able to hit budget goals for every month in 2016 while shooting to decrease expenses as compared to 2015. I do believe it is possible, though, if I stay accountable to myself and others (hello, BFC) and leverage the tools available to me such as YNAB which I have been getting used to over the past few months. Time will tell if this proves to be the case. Target Completion Date: December 31, 2016 or sooner. RESULT: FAILED- didn't finish Goal 3 yet so haven't made much of a dent in this- but also haven't racked up any further debt. Balance stands at $13,590.12 as of today.
2015 Net Income: approximately $55,000 (changed careers in July)
Expected 2016 Net Income: between $65,000 (no commission) and $100,000 (with highest-expected commission payouts) Haven't ran final income numbers yet, but I was nowhere near the top end of this scale and likely didn't crack $60,000. So on the one hand, I didn't hit all of my goals- but I also didn't have the income stream to do it with. I took a second job in October that has quickly wound up being my primary job as income from the first has dwindled to nearly nothing. In 2017 I plan to pick up at least one more side gig, if not several, to help offset the loss of expected income.
Other 2016 Goals
- Update YNAB on a every-other-day basis or more RESULT: SUCCESS- was really proud that I kept this up all year!
- Run 12 5K events in 2016 RESULT: FAILED- only ran the 2 at the beginning of the year. Not good. Personal life crept up and bit me. Going to time-block and schedule this for 2017 to ensure success.
- Learn to be a better cook and drastically reduce eating at restaurants RESULT: MISERABLY FAILED- I haven't ran the restaurant expense for 2016 yet but I'm going to and it's going to be pathetic. This HAS to change in 2017 as I'm now borderline high on both cholesterol and BP.
- Move in with girlfriend RESULT:LOL- broke up with the girlfriend so that's been put on hold
- Do not have a child or any other expensive habits/experiences RESULT: SUCCESS- didn't go blow a bunch of money on anything unnecessary (besides restaurants!)
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Dec 22, 2016 22:10
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May 3, 2024 03:04
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Dec 18, 2015 04:52
