It’s that time again! The time when I sit and break down our monthly financial goals for you to see. You can read last month’s Financial Goals Update post right here.
I do this for two reasons. Number one, to help us stay accountable and reach our financial goals. And, number two, to hopefully inspire others in creating goals or sticking to their budgets themselves.
Sooooooo I have some good news and I have some bad news. Last month, I shared how our rental property needed the A/C to be serviced. Well. I thought THAT was annoying. (Do you see where this is going?)
This month, we had to get it serviced again and – dun dun dun – we were told our unit was shot. It needed to be completely replaced. And since it was the hottest month of the year, we wanted to replace it ASAP for our poor renter. Awesome.
But wait. There’s more. Literally the day the AC unit was going in, a plumbing issue came up. Double whammy, for shizzle.
In next month’s update, I’ll share a little more about how that affected us financially. Poor, poor emergency fund. I hope next month is nicer to you.
That was the bad news.
The good news? We had the money in savings to cover every dime. Yay!
AND despite these setbacks, we were still able to meet our financial goal that we had already set for ourselves for the month of August.
Our financial goal was to pay all cash for our “honeymoon.” We splurged on a trip to celebrate our ten year anniversary, and I am so glad we did! Even though we were out of the country, we were mindful of our budget and made a conscious effort not to overspend. We only did the things we wanted to do, not necessarily every single thing that was offered.
Not only did we have a great time, but we came home with no financial regrets. Or credit card payments. Score!
As previous updates have said, I don’t bring in much income over the summer. Now that I’m teaching part-time, I’m not paid over the summer months anymore. And while I still tutor over the summer, it’s not nearly as many hours as I do during the school year. The bulk of the financial responsibility falls to my hubby, and boy does our wallet notice the difference.
My family has had a blast this summer, don’t get me wrong. But I was SO ready for September. Settling into a new routine, finding our new normal, teaching new students, and having some checks coming in. I’m hopeful that this month we will be able to squirrel away money for savings. We were hardly able to contribute to our Emergency Fund this summer, and it seems like something came up every month.
For September, our Financial Goal is to bring our Emergency Fund up to the pre-summer savings, which is about 83% of our total EF amount. Next month, I’ll share a little bit more about the method behind the madness in identifying our magical number.
For now, just know that even very financially conscious families have their plans completely derailed at times, too. Thanks a lot, Murphy!
What about you? I’d love to hear how you did on your finance goals last month! Did your summer make it difficult as well? Or do you have some wins to share with us? I would love to help you celebrate.
You can read our Monthly Financial Goals Update for May here.
You can read our Monthly Financial Goals Update for June here.
You can read our Monthly Financial Goals Update for July here.