I'm only really writing this out to be able to qualify the numbers (quantities) I calculated last night. I created a spreadsheet to tally where my non-committed monies were going.
This does NOT count bonuses. This does NOT count the extra $$$ I deposit in savings each paycheck. This does NOT count hurricane cash I stash away. This does NOT assume any raises.
This also does NOT assume any loss of job, income, or increase in committed expenses.
According to the spreadsheet, I will fulfill 5 of my financial goals before the end of 2007. In order, I will:
* Refill my $1K cushion (just a few dollars low)
* Pay off my Visa ($575 limit at a relatively reasonable 12.9%)
* Save 1.5 months worth in my emergency fund
* Resume funding my Roth IRA for $50/mo
* Save $1,000 for my car's A/C repair
2008 will be dedicated to paying off my student loan, and should happen right about the end of that year.
2009 should see me:
* Start saving to Long-Term Savings
* Maxing out my Roth IRA at $4K/yr
* Saving 3 months of bills in my emergency fund
* beginning to take yearly, week-long vacations (from LTS)
2010 and 2011 have me saving for 6 and 9 months in the emergency fund, respectively.
2012 sees me saving for the final 12 months in the emergency fund, and beginning a 3-month CD ladder with the money.
It's amazing how easy the goals seem when I sat down and did the math to figure them out.