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Viewing the 'Goals' Category

Car Insurance

June 26th, 2011 at 01:37 pm

DH and I have had Geico for a little over 4 years now for our car insurance. We have it automatically charged to our Discover Card each month and pay our bill in full each month. I always knew there was a service fee for paying monthly rather then paying every 6 months. So for a long time now I had been planning on "someday" doing a seperate savings account for the car insurance and being able to save money on the installment fee. I am finally ready to get that started. So I am adding it as an additional goal for 2011 since we are doing so good on our other current goals.
Our current monthly installment for full coverage on 2 cars is $66.60 + $5.00 installment fee for paying monthly = $71.60 per month. So if we pay all at once then we will save $60 a year, which is almost a whole month of premiums!
So we need to save $400 to start this, so my goal is to have that saved by December 9th, when the next 6 month payment would be due.

2011 Goals - Final Draft

January 1st, 2011 at 02:20 pm

Debt Goals
1)Remain debt free other then mortgage
2)Mortgage - Go from $136,800 to $125,000

Savings Goals
1)Deadwood Trip $1000
2)Lawn Mower $200
3)New Car $2000
4)EF $3000
5)Checking Cushion $1800
6)HSA $5000
7)Anniversary Cruise $4000
8)Home Improvement $900

Retirement Goals
1)DH - Continue to contribute to 403B
2)Me - Contribute 6% to 401K (1/1/11 $12,400)
3)Me - Contribute 7.5% to Roth IRA (1/1/11 $2800)

2010 Goal Summary

January 1st, 2011 at 02:11 pm

Here is a review of the 2010 goals and where they stand:

2010 Goals

Debt
-Continue to live debt free other then mortgage (CHECK)
-Pay mortgage down from $138K to $130K or less
(Since we refinanced we did not reach this goal)

Savings
*Emergency Fund
-Go from $2775 to $5000 ($1030)
*Vacation Fund
-Go from $820 to $2500 ($2520 - CHECK)
*Anniversary Cruise
-Go from $2000 to $3000 ($3225 - CHECK)
*MN trip
-Go from $50 to $1000 ($1000 - CHECK)
*Checking Cushion
-$750 to $1300 ($1300 - CHECK)
*HSA
-Go from $0 to $3000 ($2660)

Retirement
*401K (3%)
-Go from $8200 to $9000 ($12,400 - CHECK)
*ROTH IRA (10%)
-Go from $1620 to $4000 ($2900)
*403B (10%) ($2400 est - CHECK)
-Not sure on amounts, but continue to contribute 10% of DH income

So we met:
1 out of 2 debt goald
4 out of 6 savings goals
2 out of 3 retirement goals

Our total savings went up $13K this year, from $29K to $42K.

2011 Goals - First Draft

November 28th, 2010 at 07:35 pm

Debt Goals
1)Remain debt free other then mortgage
2)Mortgage - Go from $136,800 to $125,000

Savings Goals
1)Deadwood Trip $1000
2)Lawn Mower $200
3)New Car $2000
4)EF $3000
5)Checking Cushion $1800
6)HSA $5000
7)Anniversary Cruise $4000
8)Home Improvement $900

Retirement Goals
1)DH - Continue to contribute to 403B
2)Me - Contribute 6% to 401K
3)Me - Contribute 7.5% to Roth IRA

This is what I am thinking for now. There is always something else that comes up.....but for now this is what it is looking like.

Midyear Update on 2010 Goals

July 17th, 2010 at 04:36 pm

Wow I can't believe it is already July! Over 50% of the year is gone - here is how we are doing on 2010 Goals:
2010 Goals

Debt
-Continue to live debt free other then mortgage (So far so good)
-Pay mortgage down from $138K to $130K or less (Now at $131,850)

Savings
*Emergency Fund
-Go from $2775 to $5000 (Now at $200)
*Vacation Fund
-Go from $820 to $2600 (Now at $2200)
*Anniversary Cruise
-Go from $2000 to $3000 (Now at $2700)
*MN trip
-Go from $50 to $1000 (Goal Met $1000 - Spent)
*Checking Cushion
-$750 to $1300 (Now at $1020)
*HSA
-Go from $0 to $3000 (Contributions of $2500, most spent as we continue to have medical expenses, but balance is up $1000)

Retirement
*401K (3%)
-Go from $8200 to $9000 (Now at $10000)
*ROTH IRA (10%)
-Go from $1620 to $4000 (Now at $2770)
*403B (10%) ($2800 est)
-Not sure on amounts, but continue to contribute 10% of DH income

Update on 2010 Goals

April 2nd, 2010 at 07:57 pm

First quarter of the year is over - here is how we are doing on 2010 Goals:
2010 Goals

Debt
-Continue to live debt free other then mortgage (So far so good)
-Pay mortgage down from $138K to $130K or less (Now at $134,300)

Savings
*Emergency Fund
-Go from $2775 to $5000 (Now at $3655)
*Vacation Fund
-Go from $820 to $2600 (Now at $1535)
*Anniversary Cruise
-Go from $2000 to $3000 (Now at $2300)
*MN trip
-Go from $50 to $1000 (Goal Met $1000 - Spent)
*Checking Cushion
-$750 to $1300 (Now at $870)
*HSA
-Go from $0 to $3000 (Contributions of $1700, most spent as we continue to have medical expenses)

Retirement
*401K (3%)
-Go from $8200 to $9000 (Now at $8700)
*ROTH IRA (10%)
-Go from $1620 to $4000 (Now at $2370)
*403B (10%) ($2400 est)
-Not sure on amounts, but continue to contribute 10% of DH income

Official 2010 Goals

December 28th, 2009 at 08:47 pm

2010 Goals

Debt
-Continue to live debt free other then mortgage
-Pay mortgage down from $138K to $130K or less

Savings
*Emergency Fund
-Go from $2775 to $5000 ($2225)
*Vacation Fund
-Go from $820 to $2600 ($1780)
*Anniversary Cruise
-Go from $2000 to $3000 ($1000)
*MN trip
-Go from $50 to $1000 ($950)
*Checking Cushion
-$750 to $1300 ($550)
*HSA
-Go from $0 to $3000 ($3000)

Retirement
*401K (3%)
-Go from $8200 to $9000 ($800)
*ROTH IRA (10%)
-Go from $1620 to $4000 ($2380)
*403B (10%) ($2400 est)
-Not sure on amounts, but continue to contribute 10% of DH income

Totals Goals
*Total mortgage paydown $8000
*Total savings added $9505
*Total retirement added $5580
**Total money added to net worth $23085
Wow that is about 1/3 of our total income, so we would have to be VERY vigilent to reach these goals! But I am ready to go and will knock them out 1 by 1!

2010 Goals.......1st draft :)

November 15th, 2009 at 06:05 pm

Here is what I am thinking of for 2010 Goals.......I will post the "for sure" 2010 goals a little closer to the end of the year.
I am going to try to keep it a little simpler this year. Last year we had many items to save for and we still have a lot of things to save up for....but we really need to focus on beefing up the EF. So here is what I am thinking so far:

Debt
-Remain debt free other then mortgage
-Continue to make additional payments each month on the mortgage
-Get Mortgage balance from $138K to $128K

Savings
-Emergency Fund : Go from $2500 to $5000 (currently it is at $2550, but may go down slightly before the end of the year)
-HSA Medical Fund : Go from $0 to $3000 (auto deposit already set up to meet this goal)
-Vacation 2010 : Go from $600 to $2600 (auto deposit already set up to meet this goal)
-Anniversary Cruise : Go from $2000 to $3000 (auto deposit is set up from last year, and will be adjusted come Jan 1, to make sure we meet goal)
-Checking Cushion : Go from $750 to $1300

I LOVE GOALS! - Long Term Goals

October 19th, 2009 at 06:39 pm

I love goals! I find them incredibly motivational as well as helpful for organizing my life. So I think goals is a good place to start my blog. Sadly it is not currently the beginning of the year......aka the BEST time to make goals.....also 2009 has sucked pretty hard on the personal level for me and I would really like it to be over soon! But even though there are only a couple of months left I still have goals I am working on.....plus starting to plan for 2010 goals. I will put those in another post. Here are my current long term financial goals.
Long Term Goals:
1) Payoff Mortgage by my 36th BD (11 years left)
2) Continue to live debt free other then mortgage
3) Save up for long and short term goals


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