Wednesday, March 24

Reviewing My 2010 Goals

With the end of the first quarter next week, I think I should assess my progress thus far on my 5 main goals for 2010:

1) Lose 26 pounds. Starting weight: 232 Current (3/13/10): 231.
  • Reflections: I'm not making much progress here. Need to stop eating so much and exercise more.
  • Action Plan: I joined Weight Watchers. With the warmer weather, I should have fewer excuses for being active.
2) Increase net worth by $25,000. Status (3/19/10): Increased $20,546 since 1/1/10.
  • Reflections: I'm way ahead of where I thought I would be. My two retirement accounts have done well this year. Selling the BMW eliminated some interest expenses. I received a significant tax refund.
  • Action Plan: I've already made the major changes that would impact my net worth, so I expect slower growth the remainder of 2010. Still, I will probably raise my goal since I am almost there and it's only March.
3) Budget: $5 per day for food; $125 per month for gas.
  • Reflections: I'm right on track for gas, and now that I'm not commuting 90 miles to work every day, I might do better than this moving forward, depending on the travel I do for mystery shopping. I'm over budget on food. Part of that is gift cards I have purchased in order to earn Hilton and Southwest points. I decided to include those expenses even though I haven't yet redeemed the cards.
  • Action Plan: As I redeem the cards, I should have lower food expenses. However, I am still spending way too much on eating out and need to plan my meals better. This should help me with my weight loss as well.
4) Lose the Bimmer. COMPLETED 12/29/2009.

5) Decide whether I should move.
  • Reflections: It's harder to measure my progress here. I am on track with my timeline and action plan, but that doesn't mean I'll do it for sure.
  • Action Plan: My plan is to have half my credit card debt paid, as well as my car note, before I move. I also will probably sell one of my rental properties to free up some cash while eliminating more debt. I haven't done anything about the rental property because it is occupied and the tenant is now on a month-to-month lease... I kind of like it like that and am hesitant about terminating the lease to sell the house considering the market right now.
Summary

I'm really happy with the progress I am making. All of my properties are rented, which throws off a nice bit of cash every month that I use to pay off debt. Our cruise, departing May 22nd, is paid for... I hope that will motivate me more to lose some weight.


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