Wednesday, October 24, 2012

Goals: Got Us Where We Are

I haven't been writing this particular blog long, but we have had goals for years. For 2012, we made about five financial goals. It wasn't clear if we would make them all because we did move two hours east this year, but so far we are on track to meet them.

Our 2012 goals are:
Contribute 7% of basic pay to Thrift Savings Plan (TSP). This is on auto pilot with automatic withdrawals from my husband's paycheck.

Contribute $5000 to each to our Roth IRA's. We did get a late start since we didn't start working on this years goal until July. We still each need to contribute another $2400 before the year end. I will send in  a couple lump sum contributions in the next two months.

Contribute $500 to each of our daughter's college funds. We put these on automatic savings in July, so this goal will be met by year end, too!

Pay extra to our truck loan, getting loan balance under $8,000. We met this goal recently. Our only debt besides our mortgage is my husband's truck. The balance of this loan taken out in April 2011, is now currently $7,219! We have plans to make some additional principal payments before the year ends.

Save $750 for Christmas. This has been a fun one. I've been looking for small amounts of cash and gift cards, generally earned for free, to accumulate all year long. As of today, I have saved $1285.71! I'll write more about this goal in future posts.

Looking back, I feel pretty confident that we would not have met all these goals had we not laid them out at the beginning of the year. The goals gave us a road map to point us in the direction we wanted to go. Did you make financial goals for 2012? Are you on track to meet them? If not, can you get closer before the end of the year? Have you thought about next years goals?

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