Sandy at First Gen American has once again challenged her fellow bloggers to write something odd, lol, with her Writing Experiments series. Today’s challenge is to post specific New Year’s Resolutions about gaining time or income using 5 “S” words as the main points. I posted my resolutions already, but here I go again with Sandy’s challenge in mind:
1. Stockpile Blogging Income.
My realistic goal is to make $15,000 in 2011 through blogging. I am setting the bar higher by aiming for $25,000. This is one of the most legit stay at home jobs I’ve ever had so I’m going to push this along by improving my stats as much as possible. Learn more about how to make money with blogs.
2. Squirrel Away Cash for TWO Roth IRA’s.
We want to fully fund two Roth IRA’s in 2011, so we will need to put aside $10,000. Most of this will be from our hobby jobs of blogging (me) and reffing (hubby). This is our safe investment. We’re also looking at short term high yield investments to balance our portfolio.
3. Shrink the Mortgage.
We want to reduce our mortgage principal from $68,000 to less than $60,000 by the end of the year. That means we will need at least $667 to go towards principal a month…this is a lot when you take into account that our normal payment is “only” $740. And just so you know it is possible to refinance mortgages with bad credit after all.
4. Step-Up the Emergency Fund.
We will grow the emergency fund from $8500 to $15,000 by the end of 2011. That means we will be putting in about $540 a month.
5. Scrape together Time for Volunteering.
I want to volunteer with Meals on Wheels for at least half of two Saturdays a month, so I need to set aside at least 8 hours a month. My current plan is to better use my blogging time more efficiently since I have been wasteful. My first step is to make myself a real schedule.
I made these goals based on the fact that I’ll be bringing in extra income doing jobs for stay at home moms. Otherwise, we will end up being about $7500 short. Woot for hobby job income, right? 🙂
What are your resolutions this year?
Here are some more posts from today’s Coffee Talk Challenge:
First Gen American – Coffee Talk – Gaining Time + Income
- Molly on Money – Working 25 Hours a Week is Wonderfully Wicked
Everyday Tips and Thoughts – New Year’s Resolutions the 5 S’s
Invest It Wisely – New Year’s Blogging Resolutions
Single Mom Rich Mom – The 5 S Resolutions
101 Centavos has The 5 S’s for the Spring Vegetable Garden
365 Days on a Budget has Day 185 New Year’s Resolution Redux