Time for an update on our 2013 Financial Goals. I've had my head down, working hard at a bunch of side hustles to bring in extra money, and I'm struggling a little bit to keep up with it all. But it's worth it! We are so close to being debt-free except for our mortgage.
Here's our list of 2013 Financial Goals and the progress we've made on each one:
- Pay off student loan debt by the end of July. ON OUR WAY!
I've been working so, so hard on this, doing everything I can to keep us on budget and earn extra money wherever I can–doing childcare, mystery shopping, selling on Craigslist and my neighborhood FB group–and we're still on track to get this done. Very exciting!
- Fully fund our emergency fund with 3 months of salary by the end of December. WAITING FOR #1
Once we make the last debt payment in July, we’ll start piling that money and anything extra I can earn into our savings so we have a fully-funded emergency fund.
Learn about our retirement options by the end of March.DONE!
This was put on the list because we've been procrastinating, so setting the goal really made a difference. We educated ourselves on how much we're depositing now through my husband's job and how we'll proceed after we've accomplished goals 1 & 2. It feels good to have that figured out.
- Set and utilize budgets for four quarterly expenses: new tires, a new couch, a beach trip, and Christmas (we are traveling this year). CHANGED
Somehow I didn't realize how dumb this goal was–where do we get the money for these things when every cent is budgeted and going towards debt payoff? I had to buy the new tires, so that's done, but the couch will wait until after we get the emergency fund established (#2). The beach trip is happening for less than we thought and as a celebration of accomplishing #1. Christmas will have to be planned for, but I can't save for it until #1 is done.
- Meet more often to go over monthly expenditures and quarterly/yearly progress. ONGOING
So far, so good. Last year, we were lazy about having regular conversations about monthly expenses and changes (like insurance costs going up, etc.). We're talking more regularly and remembering to celebrate progress–like when our student loan (#1) went under $15k and when I won a grocery gift card from a raffle. That means another $50 can go toward the debt!
How are you doing on your 2013 Financial Goals?
Image from Calsidyrose at Flickr