Goals

So I have already discussed that step one in my journey was doing what I can to make sure my finances are in order. Luckily, they are in decent shape. According to some statistics I found online everything is pretty much in line when it comes to our budget and the national average (and yes, I realize I should be doing a lot better than average and I intend to do so in the future). The only place we are out of whack is how much we spend on vehicles. This will change when my car is paid off in 19 months.

Now imagine this, step one is interconnected with step two, which was to set some goals. So I set a few goals. Don’t worry, I didn’t use any complicated method to set my goals. Nor did I sit down and try and set goals for every aspect of my life. I have tried doing that in the past. Twice. Planning out my whole life just does not seem to work for me. I find it too time consuming, too inaccurate (hard to plan my every action and goals do change), and too annoying to keep up with.

So what I did is I thought of a handful of goals that have a time frame out to about five years. Although I’ve discussed these goals with Skye, I have not even written these goals down as of yet. This will be the first time they appear in a “concrete” form.

Here are my goals. I’ll discuss them in more detail below.

1. Take the CPA review and pass the exam – Starting Jan 2008
2. Have credit cards paid off by Dec 2008
3. Move to new location when Skye graduates – End 2008 or beginning 2009
4. Purchase a house – Sometime in 2009 or 2010
5. Have a business of my own – Prior to the end of 2011

Let me explain the thought process behind coming up with these goals and what I hope each one will accomplish.

Take CPA review and pass exam – Starting in Jan 2008

This goal is fairly obvious for those who know me. I went to school for accounting and received my masters in it. Most of my work since graduation has dealt with accounting in one way or another. This goal is a natural progression of the process that was started when I choose accounting as my major. But that is only part of why this goal made the list, and a small part at that. The main reason this goal is on the list is because I think it will help me start my business when the time comes. I feel that having those three little letters after my name will lend credibility and trust to me from both future clients/customers and from lenders. I think most people place a decent amount of respect and value on the CPA designation because of the testing/standards involved and the experience necessary to gain the certification.

Pay off credit cards by Dec 2008

This is where the first step ties in with the second step. Around about December of 2006 I sat down and made a spreadsheet to show me how long it will take to pay off my credit cards by paying different payments at different times. It showed me that we should be able to pay them off in two years by being financially disciplined and living below our means. This will help me start a business by improving my credit and eventually lowering my expenses (no more credit card payments), which will allow for more money to be used in the business.

Move to new location when Skye graduates – End 2008 or beginning 2009

Skye will be graduating from grad school probably at the end of 2008. Since she’s focusing on medical libraries we will need to move to where ever she gets a job. We both figure it will be a lot easier to get a job in accounting than it will be to get a job at a medical library because there are a lot more positions open for accountants. Moving will help out my business endeavors because we will move to the most opportune location within a certain radius of her work. This new location will be where I start my future business.

Purchase a house – Sometime in 2009 or 2010

I plan on purchasing a house sometime in 2009 or 2010. This will give us up to two years in our new location before the deadline comes. I’m planning it this way for a couple of reasons. First, this will provide us with some time to determine where we will prefer to live in our new geographic location. Secondly, this will give us the time needed to ensure we get the best deal for our house. My experience in real estate taught me that if you have patience and the ability to walk away if not satisfied you would get the best deal. Purchasing a house will help my business by providing an available source of credit/financing if needed.

Have a business up and running by Dec 2011

This gives me five years from when I really started thinking about my own business until I get it open. I have every intention of having a business operational considerably before this date, but Dec 2011 is my outside limit.

As you can see, I have put a little bit of thought into my goals. Each goal has a personal as well as business related aspect. Also, each goal has a tentative deadline.

Now, I’ve given myself a financial checkup (budget) and I’ve prepared a road map (goals) to where I’m going. My initial preparation for this journey is complete. From here on out we will be discussing ‘scenery’ as we march forth on this epic journey.