I hope everyone’s new year is off to a great start!   We hit three out of five of our 2015 financial goals and hope to have better luck reaching our 2016 financial goals listed below.

1) Pass both our 2016 and 2017 Net Worth Goals We finished 2015 with a net worth of $331,113, meaning we are roughly $12K short of our 2106 net worth goal of $343,700. God willing, we should easily reach that goal and once we do, we’ll shoot for hitting our 2017 net worth goal of $395,200 one year early. My wife was laid off on 12/31/15, so these goals are more challenging than they seem.

2) Pay off Car 1 Loan Last year, we went from having no car payment to have two car payments that total $850/month. Insane! We must try to pay off the smaller of the two loans. As of December 2015, we owe $21,585.22 on our loan for Car 1.

3) Pay $4,000 extra towards mortgage principal We paid $3,100 total in extra mortgage principal payments in 2015 and would love to try pay an extra $4,000 towards mortgage principal in 2016 (an average of $333/month in extra payments.

4) Contribute $4,000 to 529 Plans ($2,000 for each child) We hope again be able to contribute $4,000 total ($2,000 for each child) to our kids 529 Plans in 2016. We barely pulled it off in 2015 and hope to do it again in 2016. Our 4-year-old currently has a balance of $13,323.37 and our 18-month-old has a balance of $5,762.07.

5) Building savings account balance to $20,000 We’ve tried so many times to build and maintain a saving account balance of $20,000. We ended 2015 with a saving account balance of $11,516.46. Hopefully we will reach $20,000 in 2016.