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Financial Goals for 2013

1. Pay off remaining Credit Card Debt.  Balance $4500.00  At one point this year, our credit card debt was as high as $13,000.   We had planned and expected  for the debt to be paid off by the end of this year, but we had a few unexpected expenses pop up
1.  Dental work for husband.  New crown for one of his back molars. $340.00

2.. New suit for husband.  My husband shops in Big and Tall (he is 6'5').  He needed a new suit right away because he was speaking at my dad's memorial.  $500.00

3.  The rental house needs new tile in the kitchen.  the dishwasher leaked and the laminate floring is buckling.  Cost:  Unknown at this point.... getting estimates.

2. Increase saving to $5000.00.  Currently we are at 2600.00 dollars in savings.  Last year we had about $1,200.00 in savings, so we are making some progress.

3.  Save $1200.00 for Christmas,Weddings, and Birthdays.    This year, we took a hit our budget with  unplanned weddings and some special birthdays.  Going to do better this year.   Christmas I will still plan to keep it around $500.00  

4.  Save $2000.00 for a trip to Las Vegas in Spring.    We have been planning for a while to take a trip to Las Vegas this Spring.  These plans are sorta on hold.  It depends on mom's health and if she still want to go to Wisconsin for dad's final resting place.

 5.  Begin contributing to my Roth again.    I have not made any contributions to my retirement accounts since I lost my full time job almost 18 months ago.  I have move all of my account to Vanguard and I will begin an automatic withdrawal from my checking to start in January 2013 of $200.00 per month.

6.  After all of the above are accomplished, it will be time to apply all extra money (at least $7000.00) to our primary mortgage.  The balance on our primary mortgage is $98,800.  We want very  much to reduce the mortgage to $90,000 by the end of the year.

I am looking forward to increasing my Net Worth this year as well!

 Lets recap the above:

  The amount of extra or redirected money need to accomplish these goals for 2013 is

credit card debt  4500.00
gifts                      1200.00
vacation                2000.00
mortgage extra   7000.00    (or $580.00 extra per month)
TOTAL               16,500.00

Being able to visualize the Financial Goals I have set will help me to reach my goal for 2013!

What about you?  Have you finalized your goals for 2013?  I invite you to share them below to motivate and inspire others!


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~Carla~ said...

Awesome goals, Lisa! :) I haven't given any thought to next years goals yet... soon though!

Jon Dulin said...

These goals sound great!! I haven't formally committed to any goals yet for 2013. I'm still looking things over and am waiting for my raise so I can better estimate things. Good luck!

FI Fighter said...

I really like how you listed and organized your goals. This makes it much more actionable, as it's easy to track. Good luck on reaching your goals! I haven't started thinking about 2013 just yet, but will probably put together a similar list.

Laura // No More Spending said...

Good luck with your goals in 2013 Lisa - you know I'm rooting for you to achieve ALL of them :)

CentsToSave said...

Thanks Laura! We will give it our best, that's for sure!

CentsToSave said...

Hi FI, I am a visual person and I have to have things written down to see my progress. I carry a notebook around and write down just about everything goal related. Sometimes the goals change, and sometimes the situation changes. We have a ways to go but seeing the positive accomplishments along the way (no matter how small) reminds me that I am making progress.

CentsToSave said...

Hi Jon, These goals are a framework for us next year. We will give it our best to accomplish each and everyone of them. As long as we are trying we will make great progress.

FrugalPortland said...

Great list -- one thing, when I clicked the link from Yakezie, it prompted me for a password -- any idea what's up with that?

CentsToSave said...

Thanks.... and I don't know what the whole password thing is about :( Will have to figure that out. Thanks for letting me know :)