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Thread: New actions for 2025

  1. #1
    Senior Member iris lilies's Avatar
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    New actions for 2025

    Here’s where we can write about our plans our hopes our dreams for our financial life in 2025. Several have already started some changes as reported in the grocery thread

    Catherine detailed how she’s working with her husband on new budgeting methodology.

    A Few months ago Tradd Began the journey to pay off her credit cards, and she achieved it! Now she’s building a emergency fund.

    What are you all planning this year?

    Around January 1 we do our annual review and report of our assets and we update our asset sheet. So that’s on the agenda for the next week.

    I got a mailing from our federal government today that our Social Security payments have gone up and now my annual income is $36,000 a year in Social Security. I feel very fortunate to get that amount.

  2. #2
    Senior Member littlebittybobby's Avatar
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    okay---IL, it sounds like you are rollin' in moolah! What this means is----you can stock your wine cellar with the fineest labels; that you can make several junkets to far-away places, you can also "trade" for a nicer, newer, safer, and more trendy vehicle with "advanced technology", so you can get oiut and just DRIVE like crazy to places like Fla---and best of all---eat dinner frequently at Nine Eleven Missippissi as often as you want! Yup. Maybe even the Bum Steer, up there in IWAH! Yum. You've definitely got it made! Hope that helps you some. Thankk mee.

  3. #3
    Senior Member bae's Avatar
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    - I’m going to start collecting Social Security this year
    - I’m going to finish paying off my daughter’s parent student loans the month before SS kicks in
    - I may purchase an electric pickup truck that can also serve as a whole-house battery backup power system - jury still out on this project
    - Trying to heat the house entirely with wood this coming year, to save huge $$$ on electric heating costs

  4. #4
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    Paying more attention to incoming/outgoing funds.
    Understanding our "investments" better - capital gains, taxes etc but need to see how this year's tax prep goes first. Will need to move some things around.
    Real estate decision which will be based on figuring out finances - the house we are in is not good for growing old or accommodating our hobbies. But living here is very affordable which makes the decision hard.
    Deciding whether or not to buy a new vehicle. Ours is now 14 years old. Depends on where we live as to what type.

  5. #5
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    -I am going to try to get my mom's estate settled by March
    -I am going to incorporate the new money from inheritance into my old money and look at my life as one financial whole, and allocate and plan accordingly
    -I want to master an online budgeting tool so that it helps me keep track of category spending and make better plans
    -I am going to plan menus for the week and commit to saving money on grocery shopping this year
    -I am going to get better at tracking spending and coming up with a more complete picture of what we are actually spending
    -I am going to try to make more money working part-time than I did in 2024

  6. #6
    Senior Member Tradd's Avatar
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    Quote Originally Posted by pinkytoe View Post
    Paying more attention to incoming/outgoing funds.
    Understanding our "investments" better - capital gains, taxes etc but need to see how this year's tax prep goes first. Will need to move some things around.
    Real estate decision which will be based on figuring out finances - the house we are in is not good for growing old or accommodating our hobbies. But living here is very affordable which makes the decision hard.
    Deciding whether or not to buy a new vehicle. Ours is now 14 years old. Depends on where we live as to what type.
    I can give you my vote for Subaru! Consumer Reports just chose Subaru as the most reliable car brand.

  7. #7
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    Quote Originally Posted by pinkytoe View Post
    Paying more attention to incoming/outgoing funds.
    Understanding our "investments" better - capital gains, taxes etc but need to see how this year's tax prep goes first. Will need to move some things around.
    Real estate decision which will be based on figuring out finances - the house we are in is not good for growing old or accommodating our hobbies. But living here is very affordable which makes the decision hard.
    Deciding whether or not to buy a new vehicle. Ours is now 14 years old. Depends on where we live as to what type.
    My actions are very similar to yours. Could have written about the house... have started looking, but not finding anything in our price range. Can stay here, but - like you - this house is not conducive to growing old.

    Also need to start doing better with meal planning, etc. I usually don't mind cooking, I just get lazy sometimes.

    Just got my "retirement" car - Toyota Rav4 hybrid. Still learning the ins and outs of it, but love it! Depending on if/when/where we move, this car should get me where I want to go.
    To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
    Be nice whenever possible. It's always possible. HH Dalai Lama
    In a world where you can be anything - be kind. Unknown

  8. #8
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    As my name suggests .. I am frugal. I am going to try to be less so in the future. I have saved all my life and now it is time to get what I want/need and not worry so much about cost. It is hard to change a mindset though. 2024 was a good year financially. Also, need to contact tax and estate attorney soon. Next week having a medical procedure that, hopefully, will make my life better!

  9. #9
    Senior Member rosarugosa's Avatar
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    Happystuff: Are you looking for a more appropriate house in the same area, or a different area altogether? If the latter, where are you thinking to relocate?

    As far as financial activities go for my household, I'm going to start tracking grocery expenditures again. We also need to rebuild our cash reserves, since we spent so much money on home and garden stuff last year.

  10. #10
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    Quote Originally Posted by rosarugosa View Post
    Happystuff: Are you looking for a more appropriate house in the same area, or a different area altogether? If the latter, where are you thinking to relocate?

    As far as financial activities go for my household, I'm going to start tracking grocery expenditures again. We also need to rebuild our cash reserves, since we spent so much money on home and garden stuff last year.
    I would love to find a smaller house in this area, but the prices - even for an 800 to 1000 sqft house - are outrageous and definitely out of our reach. I'm looking across state lines (live close now) and there are a few things, but I'm really picky. Actually looking for a manufactured home, but refuse HOA fees or lot rentals. When I'm on a fixed income, the last thing I want to worry about is someone raising these types of rates on me.
    To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
    Be nice whenever possible. It's always possible. HH Dalai Lama
    In a world where you can be anything - be kind. Unknown

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