Net worth and goals for 2007

My goals for 2007:

To push my net worth over six figures. That will take about $22,000, either in debt reduction or in investments, specifically through doing the following:

1. To pay off one of my lesser student loans -- about $6,000.
2. To save $5,000 in an emergency fund.
3. To max out a Roth IRA.
4. To pay off my credit card debt -- currently at $8,000.

That brings my total to about $25,000. I only make $32,000 a year and my husband makes $48,000 a year, so I would need to utilize all my income to pay off debt and to save. Hopefully if I do that, 2008 will be a little easier.

I have been ignoring my debt for a long time. I have, in addition to my $102,414 mortgage, an additional $67,119 in debt. It breaks down like this:

1. Credit card debt: $7,250 (as of last month. We'll see how it evens out at the end of this month!)
2. Home Equity line of credit: $8,820
3. Student Loans: $51,049

I know it's not as bad as it could be. A lot of people have done worse. And, I have two young children and was out of the work force for three years. But I want to be on the up end of things, not the down end. I want zero debt, and I want some financial stability. My parents lost their entire retirement in the stock market crash in 2000. Thing is, they only lost $2500. Yes, $2500. They were 54 and 49 years old (my mother is older). I find it incredible they even consider this "retirement." What will they live on? Twenty cents of interest a year?

So money is a very emotional issue for me. I don't want to end up like that, or be a burden on my children. So...I am facing my debt head on, and I am tackling it the best I can.

Come on 2007.