Goal Check-In

Since we are 8 weeks into 2019, I want to check-in on my financial goals and see if we are making any progress. My 2019 goals are pretty basic and all include improving our financial situation.

I came up with 6 financial goals I wanted to meet in 2019. Some are repeats, some are new, but I feel they are all realistic.

2019 Goals

•  Decrease debt/no new debt
• Pay kids back (including interest)
• Pay off car by 12/31/2019 (about 2-3 months early)
• Credit card debt under $10000
• Save/budget for Christmas
• Stick to cash only budget

Goal 1: Decrease debt/no new debt PASS

So far, so good. We haven’t added any new debt and from our last 2018 debt update to now, we have decreased our total debt by $1917.07 and I feel pretty good about that! If every month were as good as the last two, we would just about be out of debt by December of 2019!

Goal 2: Pay kids back (including interest) PASS

We still owe them $200, but we continue to steadily pay them back $50 per month and are on track to have them paid in full, including interest, by June.

Goal 3: Pay off car by 12/31/2019 NOT ON TRACK

We are not on track to be successful with this goal, and I think that’s okay. We pay interest on our credit cards so we send any extra money towards that debt and are not focusing on paying off our car early, however, I still like the idea of having this paid off by December, so we will see how this goal progresses as the year continues.

Goal 4: Credit card debt under $10000 ON TRACK

We are on track with this goal. Since our last 2018 update to now, we have decreased our credit card debt by $1000 which puts us right on track to bring this under $10000 by the end of the year. Ideally we would be well below $10000 in credit card debt by the end of the year, but being realistic means I need to account for our actual spending.

Goal 5: Save/budget for Christmas PASS

For the first time, in literally ever, we are planning for Christmas. We are budgeting $200 per month to pay for Christmas for next year and currently have $400* in an envelope “waiting to be spent”! I don’t know if $2400 will be enough to pay for Christmas, but I know I will have more next year than I had this year or any years past! (*Full disclosure, we don’t actually have $400. We have added $400 but have already spent some of the money for Christmas next year and, as such, don’t have the full $400 in the envelope.)

I also have a new envelope this year “food”, that I put excess food money in from our bi-weekly budget. This will help when we have particularly expensive grocery shopping trips and as we get closer to the holiday season and have to pay for our Christmas party.

Goal 6: Stick to a cash only budget NOT ON TRACK

Although I am not “passing” this goal, I also feel like I am not completely failing at it either. I have used my credit card a few times in the last 7 weeks. Overall, I am using cash and funding my budget envelopes, but I have had a couple of slip-ups. Several times I have opted to use my debit card (from one of two different banks) and then had to work out how to pay for it.

Overall, I would give myself a solid B for my financial goals for 2019. I’m not unhappy with where I’m at and feel like I am making strong strides towards meeting our goals for 2019! Throughout the year I hope to periodically check-in with them and see if I’m on track.