At the beginning of the year I looked at our monthly budget and tried to plan out some yearly goals based on that. Then I showed them to my husband and got his thoughts on the subject and in the end came up with seven very achievable financial goals for this year. Here is what they look like and how we are doing:
- Credit cards paid off by August
- We are a little off track here with just over $6,000 in debt when we should be down to $5,500.
- But if we can do this it will be $12,782 worth of debt gone in one year.
- We actually had $16,000 at one time.
- Save money, approx. $10,000, for a new truck for Doug.
- Can't start this until the credit cards are gone.
Use tax refund to pay off one of our two remaining credit cards.- Use my debate coach pay for credit cards
- I think I get the check this month. Can't wait :)
- Build Christmas gift fund of $1000 to include food too.
- Not working so well right now. I keep raiding it. We currently have $50.
- Keep food budget at $400 a month ($100 a week).
- Tried this, but then adjusted it to $500 and it seemed to work better. However, during much of March & April we have been only speding slightly over $100 a week and doing pretty well. We may need to adjust it back to $400.
- Take a small vacation, around $700, paid in cash from daycare money (we don't have to pay daycare during the summer since the kids stay home with me).
- We are headed to Florida soon! We already paid for the condo, which is mainly why we are behind in our credit cards. We have also saved a decent amount of spending money, but we still need some more.
We haven't made a lot of visible progress when you look at this list, but we have lowered our credit card debt by almost $7,000. In addition to that we will really begin to make big progress when the kids get out of school and we don't have to pay daycare anymore. Since C is already in school and A starts this coming school year we will see our daycare payments drop by almost $500. We cannot wait!!!
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