Welcome to Cents To Save! Follow along as we pay down our debt, become mortgage free, and enjoy life. You can read more about this site here and subscribe to get all the latest updates sent to you by email or RSS feed here. Thanks for visiting!

Financial Goals 2013 Update #1

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.   Due to the generosity of my mom, our debt is down to $550.00.    This is very exciting for us!  So close to getting rid of the credit card debt!

1.  Dental work for husband.  New crown for one of his back molars. $340.00 Bought and paid for.

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 Done.

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. Tile and supplies are bought and paid for.  The job will cost us $150.00. Due to mom's health adventures we have yet to arrange for the tile job. 

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. We are hovering around $2700.00 now, but definitely are hoping to increase it.

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     
No, nothing saved yet.

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. We have no plans to go anywhere to far for vacation. Mom's health will keep us close to home this year.

 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.   I do not have automatic withdrawal set up yet, BUT I can contribute via the Vanguard App on my iPhone.  So far, I have added $100.00 this year. 

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.
 No additional payments made yer. 

 Lets recap the above:

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

credit card debt     500.00
gifts                      1200.00
vacation                 750.00
mortgage extra   7000.00    (or $580.00 extra per month)
TOTAL                 9450.00

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


Live and Learn said...

Looks like you're making some good progress.

ND Chic said...

You will be credit card free in no time. Good work!

CentsToSave said...

It is going in the right direction!

~Carla~ said...

That was such a great blessing from your mother! :) You're doing so well overall, Lisa! You've had a tough year, give yourself a pat on the back!

Laura / No More Spending said...

You're making GREAT progress Lisa! Well done :)

CentsToSave said...

Thanks Laura! :)

Jane said...

You are so close to paying off your C/C debt - that's amazing and how wonderful of your mom to help you out. I hope her health has improved a bit.

Anonymous said...

The believe that it is possible to get loans with a bad credit score approved without peace of mind
in this type of small amount of time scale is down on the
fact that a lot of online lenders ignore credit scoring anyway payday loan once you enter in your entire information and apply you may start to
acquire emails with subjects like, " your approved", $600 deposit pending, etc etc.