Summer Financial Goals

It feels AMAZING to be back at this blogging thing on a regular basis!  Somewhere in the past week I re-found my motivation. Not just for blogging but for looking at my finances, my health/fitness and my life in general.  For now here are my financial goals for the summer and beyond.. maybe later I'll get into some of my other goals!

Immediate (0-6 months)

1. Find a second summer job.  I will be returning to the job I held for the past few years in Ottawa serving.  Looking at the tracking I did last summer while working there, I made about $1500/month.  The budget I've created requires an income of  $2000 which leaves a gap of about $500.
2. Get a job supplying for the 2012-2013 school year.  As an almost graduate of teacher's college I'm hopeful that I will get a job supplying for the coming school year.  I will be applying to at least 4 different school boards in Ontario in hopes of finding some work.
3. Repay my most expensive credit card.  This card has the smallest balance (~$1000) but the highest interest rate (19.99%).  So it will be a great feeling to get rid of this debt.
4. Build my Emergency Fund.  This may be the most important goal on the entire list.  I have $200 allocated to EF saving on my budget (the other $50 will go to my RRSPs).  Additionally, as the service industry is very unpredictable, any extra money will be added to my savings.

Short Term (6-24 months)

1. Pay off consumer debt by October 2013 (18 months).  I currently have about $12k in consumer debt across three credit cards.  
2. Get a full teaching contract by the 2014-2015 school year.  Similar to my goal of supply teaching, I'm hoping to get a full contract within 2 years. 
3. Begin saving for a house.  By 18 months, I would like to have a "house downpayment" account set up with regular deposits being made.

Medium Term (24-60 months)

1. Pay off student loans within 36 months.  By funnelling as much money as I can towards my debt I will be entirely debt free. SOOOO amazing to think this is possible!  
2. Repay LLP within 36 months. I recently borrowed $3000 from my own retirement savings through the Lifelong Learners Plan and have 5 years to pay it back to avoid being taxed.  Although, I'm not paying taxes or interest on this loan, I am effectively losing money.  So, I want to pay it back as quickly as possible but it is my last priority.
3. Save for retirement.   Once the LLP loan is repaid I will continue to contribute to my RRSP every month.  I plan on maxing out my contributions through work so this saving will be secondary.
4. Build emergency fund up to $4,000.  I quite strongly believe in emergency funds.  While $4000 isn't enough to get me through 3 months of emergencies, it is enough for me to feel comfortable while repaying debt and saving money to buy a house.
5. Saving for a house.  Continue saving for my down payment.  I will be increasing the amount being deposited as my debt is paid off and my salary increases.

Long Term (60+ months)

1. Purchase a house with at least 15% down payment.  I'm thinking in 5 years I can have about 30-40k saved which would allow me to purchase a house between 150-300k depending on the size of the down payment.
2. Begin working towards a retirement fund of $1.5 million.  With my debt paid and house fund on it's way I will being to seriously focus on retirement.  $1.5 million is a a very random number!
3.  New car?  Vacation?  Wedding? Kids?  Curve balls that I cannot predict!  Who knows?!!?  Let life come!!!!!!!!!

These goals may sound INSANE, but I have done some intense calculations and if everything goes exactly as planned then I can definitely accomplish each and every one of them.  I am not naive enough to believe that nothing will go wrong and throw things off track... but having a plan is definitely a good starting place!