When putting together my Financial Goals for 2013, I believe now that I had unrealistic expectations of what we could actually accomplish. So it is time to revisit the original goals and revise them to better suit us.
1. Pay off remaining Credit Card Debt: Almost done. The balance now hovers at 350.00 dollars. The credit card debt has been as high as $13,000.00
2. Increase savings to 5000.00. Revising this amount to $3500.00
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 changes here. No money saved yet, but will definitely get going on it.
4. Save $2000.00 for a trip to Las Vegas in Spring. Nope. No money put aside, no trip. Too much going on around here with mom.
5. Begin contributing to my Roth again. Only 100.00 so far.
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. Ah.... No. There has been minimal extra sent to the mortgage company. Boo!
Below is what I thought I could magically do with the money in our budget. Not gonna happen.
The amount of extra or redirected money need to accomplish these goals for 2013 is
credit card debt 4500.00
mortgage extra 7000.00 (or $580.00 extra per month)
Here is the revised, what has a better chance of happening :)
credit card debt 350.00
mortgage extra 2000.00
So, it is okay to readjust your goals. Sometimes what you think should happen, well, reality gets in the way and opens your eyes to what will probably happen.
That is not to say that in a couple of months things won't change again. Because they might. But this is what we are going with for now.