Financial Goal Progress--January

[Kat]

I'm so inspired by everyone's goals listed on the 2012 Financial Goals thread. I thought it would be fun to post our monthly progress throughout the year so we can cheer each other on! Please feel free to be as specific or general as you want (I know finances are kind of a private thing).

So far this month, I have set my goals:

1. Beef up emergency fund--$1000
2. Toy room--$1500
3. College fund--$1200
4. Yard--$3500
5. Sunroom--$3000
6. Nice birthday gift for DH (not sure what that will be yet)

Also, I'd like to start replacing our car savings ($3800) and start saving for a second child ($5000).

I am hoping I will be able to knock out goal #1 this month or next.

[Fawn]

I'm so inspired by everyone's goals listed on the 2012 Financial Goals thread. I thought it would be fun to post our monthly progress throughout the year so we can cheer each other on! Please feel free to be as specific or general as you want (I know finances are kind of a private thing).

So far this month, I have set my goals:

1. Beef up emergency fund--$1000
2. Toy room--$1500
3. College fund--$1200
4. Yard--$3500
5. Sunroom--$3000
6. Nice birthday gift for DH (not sure what that will be yet)

Also, I'd like to start replacing our car savings ($3800) and start saving for a second child ($5000).

I am hoping I will be able to knock out goal #1 this month or next.

YIKES! Kat, I hope you mean these are yearly goals and you intend to anounce monthly progress to them!?!

[Fawn]

The following is from a recent blog post:

I want very badly to return to part-time (read: about thirty-six to forty hours per week) so I have time to rest and exercise and write. It is going to be a bit of a squeeze money-wise between the car payment and the music lessons, but I am nothing if not determined and hard-working. I am making the following changes in the new year to accommodate my decreased paycheck:
1) sometime in the next couple months I will cut my hair off. I currently have long, blond hair. I have been coloring it for about ten years, the last time it was naturally this color, I was eleven years old. I currently get it colored eight times a year at $60 a pop and get it trimmed four times a year for $30. I will let it grow out grey, at least shoulder length. I can trim it myself saving myself $600/year. That doesn’t even account for the decreased need for shampoo and conditioner.
2) I will stop drinking wine (except for those special social occasions when I meet with a girlfriend for Whine & Wine, or another girlfriend for Adult Beverages with a Fire in the Fireplace.) This, I calculate will save about $1,000 per year. I will resume my meditation practice to de-stress–saves money and calories.
3) When my gym membership contract expires in August, I will not renew it. Between now and then, I will gather some exercises that I can do at home and combine that with speed walking in the park to regain my former fitness level. This will save $40/ month–so $200 this year and $480 every year thereafter.
4) I will cut the boy’s hair. I already have the clippers and can do a passably decent job. This saves $30 per son every six weeks, so $520 for the year. I will not cut beloved daughter’s hair. I did that once. It was not pretty.
5) I will take my water bottle to work every day, so I will not be tempted to buy a soda. I have cut back quite a bit on the sodas since this paying down the credit card challenge, but at my former level of one soda every workday, with an average cost of $1.50 each ( the ones in the office are $1.25, the ones at the convenience store are $1.72,) that will save about $375 per year.
Total estimated savings per year: $2,975. If I give up lattes, we can round it to an even $3,000.
Even without the money savings, these are positive changes. Let the New Year begin!

[cattledog]

The following is from a recent blog post:

I want very badly to return to part-time (read: about thirty-six to forty hours per week) so I have time to rest and exercise and write. It is going to be a bit of a squeeze money-wise between the car payment and the music lessons, but I am nothing if not determined and hard-working. I am making the following changes in the new year to accommodate my decreased paycheck:
1) sometime in the next couple months I will cut my hair off. I currently have long, blond hair. I have been coloring it for about ten years, the last time it was naturally this color, I was eleven years old. I currently get it colored eight times a year at $60 a pop and get it trimmed four times a year for $30. I will let it grow out grey, at least shoulder length. I can trim it myself saving myself $600/year. That doesn’t even account for the decreased need for shampoo and conditioner.
2) I will stop drinking wine (except for those special social occasions when I meet with a girlfriend for Whine & Wine, or another girlfriend for Adult Beverages with a Fire in the Fireplace.) This, I calculate will save about $1,000 per year. I will resume my meditation practice to de-stress–saves money and calories.
3) When my gym membership contract expires in August, I will not renew it. Between now and then, I will gather some exercises that I can do at home and combine that with speed walking in the park to regain my former fitness level. This will save $40/ month–so $200 this year and $480 every year thereafter.
4) I will cut the boy’s hair. I already have the clippers and can do a passably decent job. This saves $30 per son every six weeks, so $520 for the year. I will not cut beloved daughter’s hair. I did that once. It was not pretty.
5) I will take my water bottle to work every day, so I will not be tempted to buy a soda. I have cut back quite a bit on the sodas since this paying down the credit card challenge, but at my former level of one soda every workday, with an average cost of $1.50 each ( the ones in the office are $1.25, the ones at the convenience store are $1.72,) that will save about $375 per year.
Total estimated savings per year: $2,975. If I give up lattes, we can round it to an even $3,000.
Even without the money savings, these are positive changes. Let the New Year begin!

I enjoy wine too, but I've also made a conscious effort to cut back. I go through about 1-2 bottles a month, compared to about 1-2 a week. I think it's fine to cut it completely out of course, but a cost effective way I've found to buy it is to stock up once/twice a year when the liquor stores are having their semi-annual wine sales. The sales are tremendous. I'd say I spend 35-45% less than I normally would.

Also, this year, I think I will have my hubby cut my hair since my style is pretty basic. I always get it cut at the cheapo places, but I can still save about $200/yr there.

[bke]

Sorry for deleting my post. I have spent the afternoon wondering what the h*ll I'm going to deny myself next in order to have financial freedom. There just isn't much left. My thoughts are a bit confused and this isn't the right thread but I just wanted to explain why I deleted my financial goals. i apologize to anyone who might be offended by what I've done.

[tamrajo]

Sorry for deleting my post. I have spent the afternoon wondering what the h*ll I'm going to deny myself next in order to have financial freedom. There just isn't much left. My thoughts are a bit confused and this isn't the right thread but I just wanted to explain why I deleted my financial goals. i apologize to anyone who might be offended by what I've done.

Hey- I just wanted to say I understand. Sometimes I find myself spending so much time trying to save money, that I never really get around to living. Maybe your goals should be something like - enjoying life and spending a little money once in a while, to remember why you want financial independence in the first place.

[Kat]

@ Fawn--yes, those are my goals for the whole year.

@ bke--no harm done! I know what you mean--we don't have too much left to give up, either, and it can be frustrating. It is hard to find a place where you are happy with the amount going towards debt and not yet depriving yourself so much that you are miserable.

Well, I've had a wrench thrown in my yearly plans already. I was supposed to get two new classes starting on January 3rd, but for some reason, I did not get a contract for them. So that is a substantial amount of money I will be out for the month of January. Won't even get a paycheck until February now. Boo!

[bke]

Thank you for the words of support. Out of respect for this topic I'm going to post elsewhere about what I'm feeling...