I was reading another blog today, and it posed the question: Where do you envisage yourself to be in five years time, financially and physically? Such a simple question on the face of it. 14 words. 19 syllables. Infinite possible answers.

I pondered this for a while, then decided it’d be worth putting on ‘paper’ and review it at regular intervals. Use it as a life goal sheet, a personal motivator, and a reminder of what the hard work is all about. I’ve also decided to break it down into smaller chunks than just envisaging the end of the 5 years and saying “everything will be rosy.”

Today is the 9th August 2009.

January 1, 2010 (Year 1 – Aged 26)

I will be DEBT FREE. I will not owe any creditor a single penny. My credit cards will be paid up, my loan will be paid off, and I won’t be in my overdraft. That is my goal for New Years Day. If I wasn’t working hard right now, pushing myself to make it happen, then according to my calculations doing this would have taken me almost 3 years alone. With effort, I will achieve this in a little over 4 months time, having taken 11 months in total to do. Holy cow that was a lot, and remains a lot of overtime done and still to do.

To achieve this, for those who have been following along this bumbling blog from the beginning, will know I’ve moved back in with my parents.

January 1, 2011 (Year 2 – Aged 27)

1. Have saved a minimum of £20,000 towards a down payment on a mortgage; doable while remaining with parents.
2. Live as frugally as possible.

January 1, 2012 (Year 3 – Aged 28)

1. Have saved a minimum of £40,000 towards a down payment on a mortgage; doable while remaining with parents.
2. Live as frugally as possible.

January 1, 2013 (Year 4 – Aged 29)

1. Have saved a minimum of £60,000 towards a down payment on a mortgage; doable while remaining with parents.
2. Applied for (and received) a Mortgage Agreement in Principle.
3. Found a house I like, within budget, that fits my criteria and purchased it.

January 1, 2014 (Year 5 – Aged 30)

1. I have moved in. Life is good!

That’s my current 5 year plan. Will it work out? Time will tell.

What’s yours?

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