2019 Financial Goals Check-In

Let me start by saying, I really DON’T want to do this.  I haven’t checked in with my goals since the since February. At that point we were only 8 weeks into the year. Since then, things went sideways in a major way and our finances became an afterthought. I’m dreading seeing what progress we haven’t made on our goals.

To recap, 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. (I wrote this line originally before my dad’s cancer diagnosis and understanding how that would change our lives.)

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 debts and from our last 2018 debt update to now, we have decreased our total debt by $6673.41 and all things considered, I feel pretty good about that! We still have a lot to do and a lot of progress to catch up on, but our debt is trending the right way.

Even with minimal attention paid to our finances, we have made progress towards paying off our debt and I feel happy about that.

Goal 2: Pay kids back (including interest) PASS

So happy to report that we paid our kids back in full and with interest! Even after they were paid off, we have continued to add $50 a month to their accounts. It’s not much, but it’s something!

And they are no longer a debt!!!

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. Not long after my original goal check-in in February, I decided against this goal. I decided it was more important to focus on paying our credit cards down because of the interest, so although we are not on track with this goal, I feel okay about it.

Goal 4: Credit card debt under $10000 NOT ON TRACK

Overall, we have decreased our credit card debt by almost $3000.00, $2933.41 exactly. I’m glad we have made progress, but we are not on track to be under $10,000 by the end of the year. We have a little over 3 months remaining, and I plan to make progress, but realistically, it would be super difficult to get under $10,000 by then.

At this point, I’m hoping we can keep making progress and keep decreasing our debt. I’m not going to give up on this goal, but I’m not going to beat myself up if we don’t meet it.

In order to meet this goal, we would need to pay off just over $2000 per month, plus interest. I don’t see it happening. But I do see progress continuing to be made.

Goal 5: Save/budget for Christmas PASS

This goal has been going great! Every month I have faithfully put $200 into our Christmas envelope and we have had the money there to use as needed. I have loved having some money set aside to use for Christmas gifts and stocking stuffers. I seriously don’t know why I didn’t start doing this sooner.

The Husband has also redeemed $200 in Amazon gift cards from his works employee incentive program that he has used towards Christmas presents.

Lastly, we have almost $400 in points from our credit card that we are going to redeem. These will be used for Christmas as needed. I’m planning to use this money to buy our Christmas party invitations and for food for our party. Again, it won’t cover it all, but it will be a good start.

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. 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 I think that’s good because whatever I’m buying is actually paid for.

Since I recently got back on the get-out-of-debt wagon, I have tried really hard to make sure I have the money to pay for anything that has been charged. For example, The Boy just needed something for football and although we charged the item, I immediately took the money out of our “kids’ activities” envelope and put a post-it note on it to send it to the credit card. It’s not ideal and we still have a long way to go, but it’s progress.

Overall, I would give myself a B- for my financial goals for 2019. With the chaos of our life over the last three months, I’m not totally unhappy with where I’m at and feel like I am making strides towards our financial freedom.