Goals for 2010

I've written two separate lists of financial goals for 2010, and I've been debating which list to post to this blog. One list contains goals that are realistic and attainable, and offer a substantial bit of wiggle room for any splurges and unexpected expenses. The other list would be a stretch, and would rely on strict budgeting throughout the year, and earning extra money to offset any unexpected expenses, vacations, etc.

We have a few major planned expenses for 2010, but we aren't sure of the cost. I have to buy a bridesmaid dress (plus alterations & accessories), buy a bridal shower gift, host a bachelorette party, and a nice wedding gift. We have a major renovation project planned (kitchen remodel). Hubby will be attending grad school during the summer and fall terms. There may also be some health-related expenses this year (there are a few specific items of concern, and it will be another month or two until we can find out more). So with that, I'll err on the conservative side for goals.

1. Pay off my credit card completely (currently $4k).
2. Pay down Hubby's credit cards to <$5000 (currently $15,300).
3. Pay off Hubby's Perkins student loan (currently $995).
4. Pay off Hubby's car (currently $4334, payoff scheduled Nov '10).
5. Pay down my car loan to <$6k (currently $9669, per payment plan).
6. Complete master bathroom & kitchen remodel, paying in cash (estimated $10k).
7. Splurge on a nice vacation, paying in cash (estimated $2-3k).
8. Maintain at least $5000 in emergency fund (currently $5025).

My "stretch" goal would be to set aside another $5000 by the end of the year, using it to either beef up our emergency fund, to pay off Hubby's credit cards completely, or to reduce my auto loan balance or our second mortgage balance.