S.M.A.R.T. Goals and Our BIG Financial Plan for Debt Payoff in 2017 (2024)

I’m a huge fan of creating S.M.A.R.T. goals for myself and my family. The years we write down goals that are specific, measurable, attainable, realistic, and timed are the years we make things happen.

And boy did we make things happen in 2016.

We set our sights on our biggest credit card debt. We decided to focus exclusively on that single debt. While others need the quick win of paying off a smaller debt, we wanted to take out the monster.

#YearofNo

So we dubbed 2016 our #yearofno and the rest is history. (Because it’s 2017 now!) Our #yearofno was all about hitting the reset button. We carefully considered every purchase and cut the fat everywhere we could. And sometimes, we got really creative about cutting fat that we typically consider to be a necessity. (Food is a necessity…chips are not. Etc.)

We ended 2016 without reaching our big, hairy, audacious goal of knocking out that massive debt. But we did cut it down by 78%! Like they say, reach for the moon. Even if you miss, you’ll land among the stars. (A little cheesy, and I think they need to brush up on their science a bit, but you get the point.)

Moving On

Naturally, this made me hungry for more success. (I’ve been accused of being a bit Type A.) So we’ve set our sights on an even bigger goal this year. When I mentioned it to hubby, he gave me a sideways look. Then he said, “Yeah. Let’s go for it.”

I’m excited about getting on with these goals! I’m sharing them here in the hopes that they inspire you. And, I’ll totally admit it, so I’m held accountable. It worked wonders last year!

SMART Goals and Debt Payoff for 2017

*I’m splitting off my blogging goals to a separate post this year. So if you like reading blog goals, stay tuned!

Home

Our 1950s home needs many updates. Our kitchen aggravates me a ton. But all of that will have to wait another year. I’ll avoid cute remodels on Pinterest to help keep my annoyance at bay. That said, there are other goals I have for our home this year that won’t cost money. And other things that can’t wait and will have to be addressed.

• Remove all items from each bedroom and start fresh (This will be a biggie!)
• Shelving in dining room corner (I’d like to make this a closet, but we already have the shelving on hand.)
• Repair dining room ceiling
• Clean out the basem*nt

Family

• Take a beach vacation. WHAT?? How does this fit in with no spending? It doesn’t. This is a case where family is going to trump debt. Dave Ramsey wouldn’t like it, but luckily he isn’t a king. 😉 I have plans for keeping costs down, and don’t worry. I’ll blog all about it!
• Continue to practice swimming. Last year we invested in the YMCA for just the summer. We may do that again this year to continue the kids’ progress with swimming. It’s very important to me that they know how to swim (for safety).
• Two hiking/fishing/camping trips for every warm month. Our family loves being outside. Chasing 4 different baseball teams all summer makes this difficult. That’s why I will make this more intentional.
• One on one time for each child, every month. I need to see 5 check marks on this one each month. (That’s five kids for those keeping score at home.)

Marriage

• 12 Dates in 2017. We get so busy during baseball season that we can almost never get a date in. So we’ll just have to make up for it in the other months.

Personal

• Yoga & movement. Blogging isn’t exactly active business. I’d like to get more movement in. The yoga is as much for stress relief as anything.
• Read On Writing.
• Read through the New Testament. I’m not going to kid myself into thinking I’ll be able to get 12 books in this year with all of my other goals, but I definitely want to deepen my faith.

Our Financial Goals: In Debt and Done with It

While 2016 meant big changes in our habits and thoughts on money, it didn’t eliminate our debt. We spent last year focused on our biggest credit card. I’m proud of the progress we made. BUT we are carrying some of that debt into the new year.

We are in debt and done with it. Our family wants to move forward, and we’ve decided that it’s time to get serious about knocking out all of our credit card debt.

The balance on all of our cards together is well over what we wanted to pay off last year. This goal makes last year’s goal pale in comparison.

Why do I think I can pay off even more debt when I failed at a smaller goal last year? For a few reasons:

1. We’re starting off with good habits and don’t have to practice them anymore.
2. I’ve learned a ton about blogging, and think I can improve my income this year. This is a big part of my plan.
3. We’re sick and tired of debt. This should motivate us even more to plow through as quickly as possible.

What’s the Motto?

The question I’ve heard the most lately is “What’s your motto for 2017?” After seeing the success that #yearofno brought us last year, you can bet I’ve been pondering hard on this motto.

I knew I wanted something positive, motivational. I considered several different ideas. But one finally rose to the top.

Our motto for 2017 is #PressOn.

It meets all the criteria, and I think it will do just the trick for helping us get through what I hope will be a tough, but rewarding year.

New for 2017: A Link Up!

[Tweet “Do you blog about monthly goals? Come link up for accountability! #bloggerswanted”]

Happy to be linking up at The Homestead Blog Hop!

Happy New Year!

I hope this one’s productive and awesome for all of us.

Did you choose a motto or word for 2017? I’d love to know what it is! Share in the comments.

Find out how our family of 8 keeps a good stockpile of food on a budget. Here are the steps we take that make it easy to always have plenty of food on hand.

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