2016 Goals: Let the Money Flow!

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It’s 2016 now, which means it’s time to start fresh with some new life goals. Here’s where I will be focusing in the new year.

Happy Monday friends. I can’t believe we’re already several weeks into 2016. It seems the busier we get the quicker time goes by…or, maybe, it has something to do with me getting older. 🙂 Regardless, with January coming to a close in a week or so I wanted to share my goals for the New Year.

I was looking back at goals from previous years and enjoying seeing change and/or growth. Over the years I’ve come to appreciate the focus that comes with having fewer goals. When I’ve had more goals it feels like I can never maintain an appropriate focus.

The result? I don’t reach as many goals and am overall just not as effective. That being said, 2015 was a relatively good year. We made major progress towards building up a down payment for a new house and I lost 100 pounds on Nutrisystem. Aside from that, we continue to have significant business growth – which I’m incredibly thankful for and will be a continued focus for 2016.

Even though we’ve run our business for a little over six years now we still get nervous that the wheels will fall off the bus at some point – though that’s just my irrationality speaking. With that in mind, we’re actively working to continue to grow the business and scale it out more from its current state.

For 2016 I plan to keep building on what we were doing in 2015, so I’ll admit that not a whole lot is new. I will also add that I’ve scaled back my goals a bit after the passing of my Dad in December as I have responsibilities I normally wouldn’t have in being the executor of the estate. Though managing the estate, thus far, has consumed a fair bit of time it has also taught me a ton in the process.

You’ll notice there isn’t a specific and quantifiable financial goal listed. We do have financial goals – maxing out our Solo 401(k) plans, maxing out our Roth IRA plans (assuming we don’t hit the income limit) and maxing out our HSA plan but those are expected in my opinion, so it’s pointless to list them as goals.

2016 Goals


Move into a new house. Last year was spent building up cash in our Discover Bank account to grow a down payment for a house. We closed the year with a little over 15 percent saved and hope to hit the 20 percent mark by the end of the first quarter of this year. We’ll also build up cash to take care of any potential costs associated with fixing up things around our current house and taking care of anything at our new house, moving costs, etc. We’re hoping to move by the end of the summer or early fall. When we combine our income efforts with cost savings from things like canceling cable, switching to a cheaper cell phone plan, and other cost cutting efforts, this should be an attainable goal. Though, to be honest, living in a house while trying to sell it and looking for a new home does feel a bit overwhelming to say the least.

Lose another 20-30 pounds. Losing 100 pounds on Nutrisystem was my major win last year. Part of me wants to rest on that win, though honestly, I would feel much better losing another 20-30 pounds. Losing the weight last year, while definitely a challenge, was relatively simple once I got in the groove. Maybe it’s being older or maybe it’s just plain frustration but the weight doesn’t come off as quickly as it did when I was younger. Regardless, it’ll be a challenge to reach and much of why I joined a gym last month. I know gym memberships can be a huge waste of money though I know the cost alone will drive me to go regularly to get what I’m paying for. That’s also not to mention the fact the membership I got is a month-to-month plan for only $10 per month. That’s a pretty good value in my opinion.

It’s 2016 now, which means it’s time to start fresh with some new life goals. Here’s where I will be focusing in the new year.

Buy a new car. As you can tell, a lot of cash will flow out of the Frugal Rules home in 2016. We had originally planned to save money to buy a car in cash last year though that was reallocated to saving for a house. As the kiddos get older and bigger we’re seeing the need for a larger car. We have been putting aside $300 per month in a dedicated savings account to buy a new to us car. We plan to ramp up the savings to buy a good used car in cash by the end of the year. I honestly don’t know if we’ll be able to reach this by the end of the year given the goal of a new house but am committed to making it work.

Like I said earlier, not a whole lot is new this year as it’s just part of the stage of life we’re in. If 2015 wasn’t busy enough, 2016 looks to be shaping up in similar fashion especially with handling my Dad’s estate. We already have a number of trips planned, and will share more on those later, but are looking forward to those and fitting them in with continued growth of the business and website.


What are some of the goals you plan to work on this year? Do you have any fun travel plans for the year? What’s new in your corner of the world?

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I'm the founder of Frugal Rules, a Dad, husband and veteran of the financial services industry. I'm passionate about helping people learn from my mistakes so that they can enjoy the freedom that comes from living frugally. I'm also a freelance writer, and regularly contribute to GoBankingRates, Investopedia, Lending Tree and more.


  • I HIGHLY recommend writing down your goals regularly! I plan to pass the CFP exam this year and increase my blog revenue from $1k/month up to $5k/month and gain more traffic / followers.

  • Jaime says:

    One of my goal’s is to lose weight and get healthy this year. A few days before Christmas I went in for a checkup and had testing done, and my Dr told me that it was time! You can only put it off for so long before you need to lose weight.

  • I hope everything goes okay with your home sale and move! Moving on up, huh?

    Our goals are maxing out retirement and growing our business more this year. I’m also going to seek out more public speaking opportunities. As far as travel goes, so far we’re going to Montego Bay, Grand Cayman, Playa del Carmen, California, Raleigh, and maybe Jamaica again this year. For our big international trip this fall, we’re seriously considering Greece.

    • John Schmoll says:

      Thanks Holly. Yea, that’s the plan though it does seem a bit overwhelming right now in light of everything else we’re juggling.

      Wow, y’all have a fun 2016 planned! So far we’ve got Cancun, San Diego, Boulder & Michigan planned along with another likely trip somewhere tropical with the kids in December.

  • Congrats again on all the weight loss and yup, those last few are always tough. I just want to maybe drop 5, but damn you’d think it would be easy but it’s not! Best of luck on your goals this year and can’t wait to see how it all turns out. My goals are just wealth building mostly, but I have one small trip to Detroit (sadly, probably to say good-bye to someone close to me who has a terminal cancer), and one to Austin to camp grounded, a digital detox camp. I might try to squeeze in one more long weekend domestic trip somewhere too if have enough free travel points.

    • John Schmoll says:

      Thanks Tonya. I know, why is it that those last few pounds are so stinking hard to get rid of? 🙂 Sorry about the reasoning for the trip to Detroit. We lost my Dad to cancer and another family friend just lost their Dad to cancer.

  • Kara @ Money Saving Maven says:

    Congrats on your weight loss over the past year. That’s an amazing accomplishment! The two goals I’m most focused on right now are saving $5,000 and earning $5,000 in extra income.

  • Caleb says:

    Good luck in reaching your goals! Keep us updated on the progress for 2016.

  • I am taking a trip with my daughter to Washington DC this spring. It’s our first solo trip that won’t be to visit family, so we are pretty excited to have a girls week.

    I have some job changes happening soon and once I have that nailed down, I’ll be able to determine how the rest of the year needs to proceed. I hate waiting and feeling like I’m in suspended animation, but maybe it’s a good exercise in patience.

    • John Schmoll says:

      Sounds like a fun trip Kim. Both Nicole & I have had the pleasure of taking trips with one kid over the past year and they’re really fun.

      I like your take on it…patience is something I always seem to need help with.

  • Michael says:

    I have prioritized college savings for my kids and will be starting on it this year.

  • Michelle says:

    I hope 2016 is a great year for you!

    For us, we are about to put everything in storage and live in our RV full-time. We have been for the past 6 months, but now we are fully committing by finally putting everything into storage 🙂

  • I am totally with you John! The less goals I have, the more focused I am on achieving them and the greater success I have. This year, my primary goal is to sell my company so that I can build it out on a larger scale. I am focusing the majority of my energy on this and we will see how this experiment works this year. It definitely worked for me last year. Good luck with your 2016 goals!!

  • Jessica says:

    I have to congratulate you on achieving such a huge milestone with your weight loss. That truly takes discipline and determination. I think you definitely found a great value with your gym membership, plus it sounds like you’ll put it to use.
    For me, I’m trying to get organized this year, pay off at least one student loan and take a trip back to Kentucky for my little sister’s high school graduation. Good luck on all of your goals for 2016!

    • John Schmoll says:

      Thanks Jessica! It wasn’t easy, but the benefits are too many to count. Agreed, I hate spending money so it’s an encouragement to get me to actually get value out of it.

      Sounds like a good year – best wishes on your goals!

  • Jason Butler says:

    Good luck on all your goals!.One of my main goals is to generate at least $1000 in side hustle money each month.

  • That’s a heck of an accomplishment, dropping 100 pounds. Great example of setting goals and making it happen. If we have enough grit and determination, along with smart planning, we can do great things – with health and money!

  • Well John it looks like we took two separate approaches to goals this year…I set a bunch and you set a few. Based on your analysis of past years it sounds like you are setting yourself up for success and I’m going down in flames! I think those are some great goals and moving – especially with kids (can’t imagine) – is such a huge life event. I think you’re smart for keeping things limited and focused.

    I actually already dropped one goal – crushing my first semester of my MBA. I delayed my MBA (again) and honestly may never get it. It was a very difficult decision but after talking to my wife and a couple others whose opinions I trust I realized my passion wasn’t for an MBA and I should really try to capitalize on other opportunities. It will always be there a few years down the road if I want to pursue it.

    • John Schmoll says:

      Ha ha, I don’t think I’d say you’re going to go down in flames. Having a book published is pretty stellar in my opinion, not to mention the possible opportunities as a result of the book. That said, yea I’m a little nervous about moving – more so living in our current house, trying to sell it & trying to buy a new one at the same time.

      Truth be told, it sounds like you made the right decision on the MBA. I know I learned a lot through mine, though 90%+ of it is stuff I could’ve learned outside the program. Like you said, if you want it later you can definitely pursue it at some other point.

  • All great goals, John! I have NO doubt that you’ll be able to reach – and surpass – all of your goals. You guys are kicking it!

  • John, so many congratulations on your amazing accomplishment of dropping 100 pounds! A house and a car in one year is a laudable goal for 2016. It’s great that your dedication to finances is making these things possible. Best wishes for success this year!

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