You guys you guys you guys you guys!!!!! I have big news today. Like, big big BIG news!! I am thrilled to be starting the New Year on such a high!
But, before I get to it, my bad on skipping a November Finance Goal Update post. The past three months are all a blur. One minute I’m all like “Hey, Happy Halloween!” and the next minute I’m all like “Wait, what? It’s Christmas next week?!?!?”
I did a smidgeon of Christmas shopping online for Black Friday, and then knocked out the rest of my shopping in one day….the week of Christmas. Bad call, btw. The crowds were crazy!
All that to say, by the time I realized I needed to give y’all an update on November, I was a week out from posting my December update. So there you have it. A combined update post it is.
LAST MONTH’S GOALS:
For those of you who are new to the Simple Finance Mom community, my husband and I finished paying off over $80,000 of debt at the end of 2016. You can read our debt free story right here. We spent all of 2017 beefing up our fully funded emergency fund, with the big hairy goal of funding six months’ worth of expenses before the start of 2018. You can read more about our emergency fund and what it will look like in this post.
When I posted my Finance Goals for October, I wrote that we were shooting for 90% of our Fully Funded Emergency Fund saved by the end of November but we would love to have our Emergency Fund knocked out by January 1.
HOW WE DID:
This is one update I was so stoked to write. Are you ready for our big BIG news?
We did it. I don’t know how we pulled it off. Especially the month of Christmas. But we did.
We said “no” to a LOT of extras these past two months. We really buckled down on eating out in December, which is our biggest weakness. And we simplified our holidays, focusing more on presence over presents. Which is a whole ‘nutha blog post in and of itself.
But, ultimately, we were only able to do this by being diligent and recognizing that all we have is God’s. We are entrusted with a set amount and it is up to us to use it as wise stewards. I realize that’s not a very popular mindset in the financial world, and I hope that’s not a turn-off for any of you. But also, sorry not sorry?
I’ve learned a lot the past five years. Paying off 80K and saving 6 months of expenses will do that to ya. But there is no way we would be where we are today without God’s blessing and provision. We don’t make a ton of money. At all. Hello, I quit my career to be home more, knocking our income almost in half.
But we have always had enough. We have always had more than enough actually. Some months are tighter than others. But we truly have so much more peace, the biggest blessing of all.
THIS MONTH’S GOALS:
Now that we are debt-free and have met our savings goal for an emergency fund, the next few months are going to look different around here. First, we are going to celebrate together as a family. I’m not sure how we will do this, but I think it’s important to have my girls recognize our family’s joint effort in such a big goal.
After we reward ourselves for knocking out Baby Step #3, there are a few big-ticket items we want to purchase. We have said no to all big-ticket items for, ohhhh, ten years now. And there are a few things that are affecting our quality of life more than others. Namely, a riding lawn mower, a new mattress, a new couch, saving for a new car in a few years. We want to take a big trip to see the New England states next fall. We also plan on investing more for retirement. This just goes to show, even when you think you’re “done,” it never ends. Muahahaha
This month, our first goal is to save half of what we need for a riding lawn mower. A friend purchased one for a great price and no longer needs it. So we will be buying it from him.
Our second goal this month is to find any 401(K)s we have floating around from previous employers. One would think I have a better grasp already about our current retirement savings. And one would be wrong.
The truth is I intentionally ignored all of our statements so I could focus on debt and savings. Out of sight, out of mind. But those days are over.
So if any of you know how I can go about searching for these 401(K)s I would love for you to share the wealth. #punintended
Our final goal is to research specific retirement savings. I know I eventually need to do a roll over with any former 401(K)s, and we definitely want to open an IRA. Our goal is to research which investments to put in our IRA, and exactly how we will do those things. I have a good idea of the “what.” It’s the “how” that is tripping me up a little bit.
What about you?? What are your goals for January??
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.
You can read our Monthly Financial Goals Update for August here.
You can read our Monthly Financial Goals Update for September here.
You can read our Monthly Financial Goals Update for October here.