Thanks everyone for your warm welcome and encouragement!

I decided to list more minor goals, these minor goals will help me achieve my big goals for 2007.

1. I will not buy any clothes in the next 6 months except for 2 winter coats and underwear. Clothing budget for the next 6 months is only $150.

2. Cut down on the groceries. I will try to only spend $50 this week, and try to use up what's in the pantry and fridge already.

3. Only spend $50 on entertainment this month.

4. Look into lowering the house insurance premium.

That's it for now.

By writing these down, I will be able to see whether I'm making progress. This is a good habit for me to get into.

hmmm...

Finally taking the plunge to start a financial blog. I thought now will be the best time to start, being a new year and all. I hope to use this blog to keep track of my financial journey.

My 2007 goals:

1. Pay off CC#1 and CC#2 by July 2007 (~ $10,000).

2. Pay off $1,500 of CC#3 by end of July 2007.

3. Pay off personal loan by the end of 2007 (~$3,000).

4. Contribute $1,000 to my retirement fund by the end of 2007.

5. Build up an emergency fund (I've got $500 so far) to $3,000.

6. Have a $5,000 saving by the end of the year.

7. Save $1,000 to put towards a new (second hand) car.

8. Save up for a holiday overseas (~$3,000, I've got about $700 so far).

9. Save $1,000 for next Xmas expenses.

10. Put $5,000 towards long-term investments (shares).

Wish me luck!