OPERATION CHRISTMAS CHILD 2012

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Financial Goals 2013: Revised Edition

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
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:

Lisa Richardson said...

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 :)

Lisa Richardson said...

I agree, Lisa! Better to be firmly rooted in reality.... lol! I'd had to change certain goals as well.. that's life. ;)

Lisa Richardson said...

Totally agree. I make goals and after a few months realize I need to readjust them because they just aren't working anymore.

Lisa Richardson said...

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!

ND Chic said...

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!

Lisa Richardson said...

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.

Lisa Richardson said...

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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