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!

• 2012 Goals 
• 2011 Goals

Review of 2012 Goals

Taking a cue from Niki at Debt Free by Thirty, I was inspired to put together  my  list  of  goals for 2012.

1.   Pay off credit card debt this year.  Yep, it has got to go.  We have about $11,5000 in stupid credit card debt. We have reduced our Credit Card Debt To $4300.00.  It was as high as $13,000 this year. 

2.  Increase Emergency Savings from $1000.00 to $3000.00.  Right now our emergency fund carries about $1200.00, but by the end of the year we would like to increase that to $3000.00 for a little more piece of mind .Our Savings is currently at $2700.00. 

3.  Getting healthy. Time to focus on getting rid of some extra weight and change our eating habits. FAIL.  There was a lot of emotional eating this year..... and the scale reflects it.

4.  Building online income.   My work situation has changes totally.  I am now a fulltime care giver for my dad, and soon for my mom.  I will be able to (hopefully) find time during the day and night to learn more about HOW to successfully do that.  My work situation last year changed about every three months.  This goal was a FAIL. 

5.  Christmas 2012.   I again will be working my $500 Holiday Challenge.  I was able to stay pretty close to the spending/ shopping budget this year, so I am pretty happy about that.   Acquiring gifts all year round at deep savings really helped the bottom line.  FAIL.  This challenge fell by the wayside.  Better luck next year!

6.  Have more fun!  Life is short and I know that saving money, budgeting, and being frugal is important.  But....   having fun and enjoying life is just as important!   Living in Central Florida provides many opportunities to visit theme parks and be a kid again.  We have not yet decided which park we are going to get a year long pass for, but I am leaning towards SeaWorld. And next year.... Disney World.  I will be getting passes for me, my husband and my grandson.  Money well spent.PASS!! We did get passes to SeaWorld. 

7.  Plan a Trip out West.  We want to go to San Francisco, visit Alcatraz ( I find that place to be very fascinating), Cross the Golden Gate Bridge, to name a few.  It may not happen this year, but it will happen.  I plan to save at leat $4000.00 dollars towards this goal. NOPE!  The closest I got to Alcatraz was a keychain from a friend who actually did go to Alcatraz this year.

8.  Roth IRA..... hello....  you remember me, don't you?  My retirement planning has taken a BACK seat lately.  Time to get all that back under control.  I have a 401k with a previous employer that I need to do something with..... and I do recall a Roth IRA too.  I am a huge slacker when it comes to this stuff. PASS.  I moved all my 401ks and Roth's  to a central location and have initiated automatic withdrawals for the Roth again.

9.  Build a Life List.   Also know as a bucket list.  If I can manage to put some of my dreams and aspirations down on paper, like Laura has at move to Portugal, I can better reach these life goals. PASS.  I put the list together and am striving to accomplish some of the items this year!

10.  Read 10 books.  I miss reading books.  With everything online, I spend too much time reading and catching up online.  I could not tell you when the last time I actually held a book in my hands and read for enjoyment.  It has been a while.  FAIL.

11.  Get our wills done.   Enough said.  This has been on my goals list for the last two years. FAIL.  No excuses. 

12.  Improve my photography skills.  I love to take pictures and I take a lot of pictures with my iPhone.  My phone has a lot of cool apps that make picture taking super easy.  But..... I also have a DSLR and I need to improve my skills with that camera.  it might mean looking into getting another lens for it...... We will see.  I still like taking pictures with my iphone.  Love all the cool apps, but will definitely get the DSLR camera out more this year. 
 

• Here are my goals for 2013  

 

• Here are my goals from 2011

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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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NET WORTH 2013

ASSETS:

CASH      2.600.00
IRA        50,000.00
DH 401    6,000.00
DH ROTH 3200.00
               61,800.00

HOUSE #1 100,409.00
HOUSE #2   52,000.00
                  152,409.00

61,800.00
152,409.00
214,209.00 TOTAL ASSETS 


LIABILITIES
CC              4,500.00
MORT #1 98,800.00
MORT #2 94,000.00


197,300.00
214,209.00
192,800.00
21,409.00 NET WORTH

• February 2013 Update