Financial Goals Coins

Have you ever heard of a BHAG?  BHAG is an acronym for “Big Hairy Audacious Goal.”  Do you want to know what my BHAG is?

I want to be debt-free by the time Naomi is ready for Kindergarten.

The first time I listed all of our debts in order by amount due, was in March of 2010.  At that time we owed $67,688.23 (excluding our primary mortgage) on 4 different loans.

That was 41 months ago.

Today we owe $15,424.13 on one student loan. 

We’ve paid off $52,264.10 over the last 41 months.

We’ve paid off debt through 4 months on 75% reduced salary, 6 months on 50% salary, adding 2 kids, moving into my parents’ basement, living in 3 states, having 2 surgeries, and more.

Friends, can I tell you how sick & tired I am of being on Baby Step #2?

I want to get on with the rest of the baby steps, like having 3-6 months worth of expenses in savings, funding our retirement, college funding for our kids, paying off our mortgage early, and giving generously.

I don’t feel very gazelle intense when I see that $15,424.13 still looking back at me after 41 months.

But I am so grateful for how far we have come, and how much we have learned along the way.

So that is why I need a BHAG.

Naomi will be old enough to attend Kindergarten in one year.

I think we’re up for the challenge.

I can’t wait to scream, “We’re Debt-Free!”

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7 Responses to “My BHAG”

  1. Laura says:

    Yay for what you have accomplished! I’m cheering for you!

  2. Sheila says:

    I think big, hairy audacious goals are wonderful! Just think, you will be DONE with debt at that point! It’s the final stretch, and hopefully that will help encourage you even as I’m sure you’ve tired over time. But one last push! You go, girl!

  3. Mona says:

    WOW!! What an inspiration you are. Congratulations on paying down $52,000. I had to reread that number a couple times to make sure my eyes weren’t fooling me. That feels like such a load off to me so I can’t imagine how incredible you feel. 🙂 I am going to have to read through some of your posts to get some tips. I really enjoy your blog. Every time I come to read it, you have posted something I need to hear. Thank you!!

  4. […] On March 31, my husband received his monthly paycheck, and it was $510 less than usual.  We were not surprised, as we had been anticipating this hit for awhile, but it still hurts our budget.  We will be on reduced salary for the next several months until we can raise our ministry budget.  That same week we found out that our tax refund would be significantly less than the previous years, and received an unexpected $400 medical bill in the mail for some routine blood work.  When a family member mailed us a $25 Visa gift card in the mail, we had to use it for a long-overdue oil change.  I was disappointed and discouraged as I looked at the numbers and realized that it would be nearly impossible to be debt-free by August as I had hoped. […]

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