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
gifts 1200.00
vacation 2000.00
mortgage extra 7000.00 (or $580.00 extra per month)
TOTAL 16,500.00
Here is the revised, what has a better chance of happening :)
credit card debt 350.00
gifts 1200.00
vacation 2000.00
mortgage extra 2000.00
Roth 1200.00
Savings 2500.00
9250.00
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.
7 comments:
I absolutely agree that it's OK to change your goals, especially when you have so much on your plate. The revised version looks a lot more doable :)
I agree, Lisa! Better to be firmly rooted in reality.... lol! I'd had to change certain goals as well.. that's life. ;)
Totally agree. I make goals and after a few months realize I need to readjust them because they just aren't working anymore.
I agree too. Sometimes things come up, or your original goals just weren't in line with what you can do. I'm re-evaluating mine as well. great job on the credit cards!
I think its much better to revise your goals and meet them than give up because they're not realistic. Good luck with your goals!
Agree 100%. Plans change when life happens. But by having a plan, you've made great progress already. Without a plan, you would probably be where you started or worse off.
I think the most important thing you are accomplishing is paying off your credit card debt. You should feel great about that and the progress you are making towards your other goals even if they are changing.
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