Setting Goals for 2024

I made two savings goals, beyond retirement, for 2024. 

1)Return $11,000 to savings for the car debt we recently paid off. I have a plan that will use regular income, $917/month. I will also send found money here as well. Always good to fatten the cash reserves!

2)Save $400 a month towards a vacation. The where and when are still to be determined and my hope is that we won't spend that much, but I'd rather oversave then under save. If we take a vacation before fully funded with current income, I will use current savings, but then keep filling in monthly to pay ourselves back.

We also have some debt to pay.

We have a loan on our 2023 Honda Odyssey. We have been paying it faster than required. I believe it was a four year loan, which we are 16 months into. The goal is to pay it off by June of 2025 half a year before my husband retires. I have the payments set as $600 twice per month. 

I'd like to sweep extra funds into both the savings repayment and the car. I might have to do a little of both depending on what I have to work with. I guess after thinking about it a little. I will consider credit card rewards towards van loan. I will keep interest earned in savings, but not necessarily counted towards my two goals above. 

The other thing that I'd like to buy is a new sofa and loveseat for our family room. Our 'fake' leather is peeling and the cushions aren't as firm and comfortable. If I buy in 2024, without specifically saving for it (we already have a good savings account) I will probably pay ourselves back for that in 2025.