Welcome to the best financial goals update EVER! We have accomplished what we thought we'd never do–we're now debt-free (except for our mortgage)! Looking back on these yearly goals that we set last December, it was pretty foolish to put #4 on the list, but hey–it's another lesson learned–and another set of expenses to add to 2014.
I'm still doing my side hustles–babysitting, selling stuff, and mystery shopping–and every bit I earn helps us on these goals and allows for “extras” like a dinner out or a big outing with the family which we've been avoiding for so long now!
Here is the official progress we have made on our original 2013 Financial Goals:
- Pay off student loan debt by the end of July. DONE!
It was technically August 16th, but it is DONE!
- Fully fund our emergency fund with 3 months of salary by the end of December. HAPPENING NOW
We're now using the money we were paying monthly towards debt to aggressively fill our emergency fund. It's been unnerving over the past three years not having one. We did decide to put a little of this money into #3…
Learn about our retirement options by the end of March.DONE!
While finally tackling retirement savings will happen in 2014, we did decide to take a little of the debt payoff money each month and max out my husband's retirement account at work so that we could benefit from the matching funds. That's four more months of money we're earning without it having a big impact on #2.
- Set and utilize budgets for four quarterly expenses: new tires, a new couch, a beach trip, and Christmas (we are traveling this year). SILLY GINA!
We did have to buy 6 new tires for two cars this year, and we paid for the beach trip as our celebration for paying off our debt. But I was foolish to think we could buy a new couch. We also decided not to travel for Christmas, so there's a lot happening in #5 to figure out where we go from here. Right now, we're still trying to figure out what our monthly budget will look like after #2 is done.
- Meet more often to go over monthly expenditures and quarterly/yearly progress. ONGOING
We haven't had a lot to talk about for a while; all our money has gone towards debt, and now we know it's going to the bank and then to retirement. I'm ready to look at 2014 already and see where we're headed (I'd really like to take a family vacation next year!), but my husband would like to see us (me!) loosen up a bit on the day-to-day and spend more money on entertainment and other categories that we've sacrificed for the past three years.
What's your update? How are your financial goals going?
Original image from Calsidyrose at Flickr