My Financial Goals...In Order...Kind Of...

My financial goals include the following in approximate order of how they will be achieved:

1. Have $1,000 in my savings account as an emergency fund. (completed 11/6/2009)
2. Cancel my last remaining credit card which I paid off last month. (completed 11/9/2009)
3. Pay off Target $5000 (completed 7/26/2010)
4. Pay off 2008 taxes $5500
5. Settle with the collection agency for my car repossession $3000
6. Pay off 2009 taxes (hopefully on time) $4500
7. Pay off hubby's credit card #1 $10,000
8. Pay off hubby's credit card #2 $9,000
9. Pay off home equity loan $19,000
10. Complete emergency fund $10,000
11. Buy new car with cash $20,000
12. Pay off house $159,000
13. Travel, travel, travel!

A New Life

I'm about to make the jump into living the cash-only life. I seriously hate credit, creditors, debt, being broke, and all of the other negative things that go along with being a lousy money manager. Here's my goals:

• To be completely debt free including the house.
• To cancel my last remaining credit card.
• To spend only cash, with the occasional use of checks and debit cards, to pay bills or make major purchases.
• To have $10,000 in an emergency fund.
• To have a portable source of income so that I can travel more.
• To pay cash for a nice car.
• To have enough money in savings to cover a year's worth of bills (which should be easy once I have my debts paid off and only minimal monthly bills).
• To develop sources of passive income.
• To pay my taxes in full and on time.
• To write a book and have it published.
• To make wise decisions not only about my finances but also about my health, my future, and my life.

Here's why:

• I have literally been in debt since I was 16.
• I have not lived without a credit card (actually a handful of them) since I was 18.
• I have never had an emergency fund.
• I've never had more than $100 in savings, and I always end up spending even that.
• I've never paid cash for a car...I've always paid years of car payments or lease payments for them.
• I have the bad habit of juggling my debts, bouncing checks, and making bad financial decisions.
• I have one bankruptcy, two car repossessions, and lots of late payments on my credit record. Ugh.
• I cringe when I get a letter from the IRS...and I cringe often :(
• I'm inspired by Dave Ramsey!
• I hate creditors, predatory lending, over limit fees, late fees, and fees in general.
• I want to control my money instead of my money controlling me.
• I have always been held back because of my debts--can't travel more than a couple of weeks because I need to get back and work, can't buy the latest gadget with cash because I am always broke, can't whisk the hubby away for a nice vacation or surprise him with a really cool present because...you guessed it, I am always broke!

So I am starting now, this minute, to get my (financial) life in order. No more debt, no more credit...I am in control. Period.