2014 goals | Big Sky Multisport Coaching & Personal Training

One of my big 2014 goals is to become financially stable and pay off some student loans! Thus, welcome to my new series called Frugal Fridays! I plan to post at least twice a month on everything from paying off debt, making and sticking to budgets, and living frugally.

Since September I have been using the free online budgeting program, mint.com, to create a monthly budget and track my spending. The first few months I knew I would be off my budget because I started a new job and had to buy an entire new wardrobe. Hello big girl job! I also wasn’t 100% sure about my gas, health and grocery spending and what it was going to look like. The fall months were definitely a trial by error months. By monitoring my spending over the past three months or so has led to some fine tuning of my monthly budget going into 2014.

The largest chunks of my budget were student loans, food and medical. Obviously I can’t cut down my student loan payments, but I knew I could make cuts in my food and medical spending in order to grow my savings account. With my new job I get a company funded HSA to help pay our high deductible insurance plan. Last month I realized that I could use it to pay my chiropractor (since that is my medical spending)! But now that my hip is starting to “normalize,” I don’t have to go weekly. Yay!

Food is a big area most people can cut down on in order to save more money. I use to go to Starbucks a couple of times a week for a latte and a breakfast sandwich. That’s about $7 a time, which over a month can add up to a lot of dough. I will still stop at Starbucks on an occausion, but I’m focusing on making and eating breakfast at home. I don’t normally go out much for dinner so I really don’t have much to cut back there. In the recent months I have been bringing my lunch to work almost everyday to work. Sometimes if I’m traveling for work though I have to buy it and I’m okay with that.

For both my undergraduate and graduate degree, I started with about $44,000 in student loans, which I use to think was really bad, but after hearing about some of my friends undergraduate debt, I don’t feel as bad. However, $40,000+ debt is definitely scary and I want to get rid of it as fast as possible, especially since I would like to go back for my PhD. Over the past few years I have managed to pay it down to about $35,000.

Here are my mini-goals for 2014:

My goal is to get my student loans under $30,000 this year. I plan to pay off two loans for sure this year: one for $2500 and a second for $1500. If I have extra money in my budget, then I may apply more money quarterly to certain loans to pay them off quicker.
Saving for a car. I’ve been driving my 2000 Hyundai Elantra for over 7 years and it’s on its last legs. However, I plan to drive her to the grave. My goal is to pay for a new car with as much cash as I can manage instead of completely funding via loans. I also don’t plan on buying a brand new car. I would love to buy a Subaru, but at this point in my life, I don’t want to pay that much for a car. We’ll see though what is available when the time comes. I just want sometime good on gas and can fit my triathlon gear!
Cutting back on things and sticking to my budget. There are somethings in my budget that I can’t cut from my budget, such as student loans and rent. However, I’m going to make every effort to stick to my budget and make cuts when I can. Recently, I decided to dump my $100 a month Verizon bill for a more budget friendly cell phone plan. I will let you know in a month or so how that new plan is going, but I should be saving anywhere from $50-75 a month!
Packing my lunch, eating breakfast and dinner at home. One of the best ways to save money on food is via meal planning. Confession: I’m a total Type A person, but not when it comes to food. I rarely grocery shop with a list. That is going to change. I’m also considering a small garden this summer as well.
Pay myself first. I had built a good emergency fund over the past few years, but the amount took a drastic hit over the past year due to some very expensive car repairs. My main goal is to build this up again to be able to have enough money to cover all my bills for 3-6 months. Hopefully I won’t have to use it, but it will be there if I need it. I also plan to add additional money to my second savings account for potential travel this year or early next year.
Buy things I only need. I’ve never been a huge spender, but when I want something I will go out and buy it. I have a lot of friends that are very liberal in their spending and I have a feeling a lot of them are in some debt. Most people are in this country, especially in their 20s. I’ve started to keep a list of items that I would like to purchase over time. No more impulse purchasing!
The Mason Jar Savings Plan – I’ve seen various versions of this running around on the internet and I have decided to do it this year. Frugal Beautiful gives you a good outline of the plan here (plus her blog is really a good read too!). I don’t have a fancy mason jar to put my dollar bills is; I just keep a big envelope in my safe.

So that is my plan for 2014 to save some moolah and also pay down some student loan debt. Anyone have some good advice on ways to save? I’m all ears!

~ Happy Training!

This year I decided to pick three words that I hope will describe the upcoming 365 days in 2014. Adventure. Stability. Growth. These three words have multiple meanings to me, but in summary the words are synonymous to the goals that I will work towards achieving this year.

2013 started off a bit rough, but as the months passed on, I started to move my life in the right direction – where I wanted to go. You can read my 2013 recaps HERE and HERE if you missed them last week.

2014 Goals:

Professional:

Grow in my job – I have been in my current job for just over 3 months now and I really love it thus far. Throughout my public health graduate studies, I would have never thought that I would find a job in healthcare technology. It was a topic that never really interested me; however, now that I work in the field, I love it. Not only is healthcare technology important in the United States, but globally, where my heart lies in global health and international development. My job is challenging and rewarding. Each week I am learning new skills that will only improve my work quality and also aid in my future career development. In 2014 I look forward to working hard, learning new skills, and furthering my future career path.
Grow my business – If you have read my blog for a while you have probably noticed the changes over the past couple of months. I plan to officially launch my new business in a couple of weeks. I started my own coaching and personal training business because it is my passion and I find great satisfaction in helping people achieve their goals. I don’t plan to make a million dollars in my business, but a few extra dollars to help pay my student loans would be nice. I have some interesting plans and opportunities in the future so stay tuned for future developments! 🙂
Learn French – This has been one of my goals from early fall 2013. I want a future career in global public health and international development, thus I need to become bilingual, or at least competent at a second language. I’ve been slowly practicing my language skills via software programs, but I will continue in 2014 with french lessons at The Language Exchange in Portland. I don’t naturally pick up language quickly, so this is going to be a tough goal, but it is necessary and important for my future career goals.

Personal:

Become more financially stable – The last couple of years have been a bit tough financially. Last year I took a risk with my career and it did not pan out as well as I hoped. The last couple of years were also riddled with unexpected purchases, i.e. lots of car repairs and health bills. My graduate student loans also kicked in and I quickly realized that about a third of my monthly income goes directly to SallieMae and Nelnet. Awesome. With my new job I received an increase in pay from my old one. I need to buy a new car some point this coming year and thus I have begun to put some cash away for that big-ticket item. I’m still driving my little car until it dies for good (or is going to cost me a zillion dollars to fix). I also plan to stash some money away again into my emergency fund since it became low due to said expensive car repairs. For the past few months I have created budgets and reviewed my spending habits to determine where I can cut back. Going into 2014 I feel pretty comfortable with my monthly budget and I have been researching ways to live more frugally. Stay tuned for that journey.
Travel – It’s ironic that one of my main goals is to save more money and live frugally, but I also seek adventure outside the US. I haven’t been to a new country in a couple of years and thus, 2014 is the year I discover a new part of the world. My mind has gone crazy with ideas, but I yet to commit to anything yet. I may travel to South America with a friend, go on a medical mission to a developing country, or take a solo trip to Southeast Asia or Europe. I love daydreaming about traveling the world and I know this year will be the year of an adventure. Anyone looking for a travel buddy? 🙂
Volunteer more – This past fall I joined the Junior League of Portland, Maine and have met some pretty fabulous and inspiring women. The organization is built on giving back to the community, which is one of the main reasons I joined. I look forward to volunteering around the community with the JLP, but I also hope to give back to my community in other ways. I have been researching various organizations related to my career interests and will be making contact soon so hopefully I can help in any way needed.
Read a book once a month (or more) – I love to read and you periodically will have book reviews on my blog. For a collection of old book reviews click HERE. I’m an avid reader and I usually read daily, whether job related papers or pleasure reading. My goal in 2014 is to finish a book at least once a month; however, I would like to read more than just 12 books a month. Heck, in the past 5 days I have almost finished all three Hunger Games books. 🙂 I have a stack of half-finished books so I will start my reading list there.

Health & Athletic:

Injury Prevention – I plan to focus a lot this year on injury prevention and prehab. I was struck with a lot of hip/knee/IT-band issues last triathlon season and I don’t want a repeat this year. Now that I’m confident that my chiropractor and I have identified the underlying cause of my chronic right hip issue, I know where to target my prehab exercises. Much of my issues are fascia-related, which often take 12-18 months to fully heal and thus it will be a long-term goal to return to normal human movement patterns.
Weight – I’ve mentioned before that I’ve struggled with disorder eating in the past. I still have relapses often and thus I need to focus on living healthy and forgive myself when I make mistakes. I’m so use to negative talk about my body image that sometimes it is often tough to shake a stick at it. I’m slowly accepting my body and learning to create a healthy body image through exercise and a “diet” that works for my body. I’ve played with different “diets” (note: I use the term diet to refer to food in general, not your typical diet to lose wieght) over the past couple of years and have discovered what works and doesn’t work for me. I will continue on this journey over the next 12 months.
Triathlon – I announced my tentative 2014 race schedule about a month ago. You can view it HERE. My “A” race is Timberman 70.3 in August with a few local races spattered in between. I tried to keep my race schedule light this year to save money (racing is expensive!), making sure I keep my body healthy, and also to enjoy other fun things in Maine, like hiking, rock climbing, and go to the beach with friends just for fun (apparently brining your wetsuit to swim is frown upon with “normal” people). I would love to qualify for Age Group Nationals. If I qualify for this coming season then I won’t go because Timberman is so close, but I would consider 2015 depending on the locale. My very, very far-reaching goal who be to qualify for 70.3 Worlds at Timberman but the chances of that happening would be that of me winning the lottery (and I would actually have to purchase a lottery ticket to do so)!

So what are your 2014 goals? Anything fun and exciting? Want to travel together?

~ Happy Training!