Financial Goals for 2012

I just love a new year.  I feel like I can shake off all of the bad financial decisions of the previous year and start again.  There have been a whirlwind of changes regarding money matters since hubby now has a new job.  There were a lot of decisions to be made. Our process for setting the year’s goals is pretty simple.  The first thing I do is sit down and analyze the monthly budget.  I ask myself what is working and what is not and estimate any upcoming changes.  For instance, we will need to increase our gas budget due to commuting.  This process can usually take a couple of months to work out all the kinks, but once complete, I know how much money I can dedicate to savings on a monthly basis.  While I continue to work out the monthly budget, I begin thinking about major expenses … Keep reading…

Monthly Financial Goals: October 2011

So do me a big favor and pretend like I wrote a monthly financial post for September and it was full of successes.  That’s what I am doing.  My big, lofty goals for 2011 are most likely on hold for the rest of the year.  I need to focus on sticking to my monthly budget and not worry about stocking away savings right now.  So here is my plan for October. 1.  $300 Grocery Budget – I know it can be done because I’ve done it before.  And my grocery tracking spreadsheet is finally available! 2.  $20 Halloween Budget – This is for costumes and a craft basket.  Alex wants to be something scary, maybe a spider.  I haven’t decided on Ryan’s costume just yet, but I might redo one of Alex’s old ones and have him be a bear. 3.  Begin Christmas Shopping – I stash money away all … Keep reading…

Mid-Month Financial Check-Up

Ugh.  I don’t even want to write this post there is so little progress to report, but I will.  The discomfort will serve as a reminder to do better next month. Goals for 2011 are: Maintain a $1000 Baby Emergency Fund – Current Balance ~$770 Pay an extra $50/Month to Student Loans Save $8000 for new HVAC System (2011-2012 Goal) – Current Savings ~$2630 August 2011 Goals are: 1. Replenish Baby Emergency Fund – Instead of selling off some old things on Craigslist last month, I have decided to have a garage sale. Probably not until September though. It is still way too hot. So this month I will only be adding our regular savings contribution, but luckily that will be more than usual due to a small raise. UPDATE:  As usual, our monthly budget for savings was used up in other ways.  One was a medical bill – a … Keep reading…

Monthly Financial Goals: August 2011

July sure did fly by fast.  Unfortunately, not much progress was made on the financial front.  I only added about $20 to the Emergency Fund and had to take out almost $200 from the A/C fund for some repairs.  But, the A/C is running much better and may actually be able to limp along for another couple of years while we continue to save up for a replacement.  Here is a reminder of my yearly goals and updated balances. Goals for 2011 are: Maintain a $1000 Baby Emergency Fund – Current Balance ~$770 Pay an extra $50/Month to Student Loans Save $8000 for new HVAC System (2011-2012 Goal) – Current Savings ~$2630 August 2011 Goals are: 1. Replenish Baby Emergency Fund – Instead of selling off some old things on Craigslist last month, I have decided to have a garage sale.  Probably not until September though.  It is still way … Keep reading…

Mid-Month Financial Check-Up

Goals for 2011 are: Maintain a $1000 Baby Emergency Fund – Current Balance ~$750$770 Pay an extra $50/Month to Student Loans Save $8000 for new HVAC System (2011-2012 Goal) – Current Savings ~$2800 July 2011 Goals are: 1. Replenish Baby Emergency Fund – Since we had a few baby (read small, not Ryan) emergencies lately, this is a little low. Hopefully we can get it close to fully funded again by not doing Goal #2 this month, using our monthly budget money set aside for savings, and by selling a few things that I have been meaning to put on Craigslist for months. Now if the emergencies would just give it a rest. UPDATE:  I was able to add about $20 from our regular budget.  The $50 from Goal #2 that I was going to transfer was autotragically sent to the student loan instead.  Oops.  I guess that isn’t the … Keep reading…

Monthly Financial Goals: July 2011

Hey!  Isn’t this supposed to be a homeschool blog? Yes, it is a homeschool blog.  And it seems to me that unless you are independently wealthy, homeschool and frugality are two sides of the same coin.  So, saddle up because you are going to be getting a dose of personal finance posts from time to time.  Playing Excel is one of my favorite hobbies. One way I stay on budget in a single-income family is to set monthly financial goals.  These are in addition to or in support of my goals for the year. Goals for 2011 are: Maintain a $1000 Baby Emergency Fund – Current Balance ~$750 Pay an extra $50/Month to Student Loans Save $8000 for new HVAC System (2011-2012 Goal) – Current Savings ~$2800 July 2011 Goals are: 1.  Replenish Baby Emergency Fund – Since we had a few baby (read small, not Ryan) emergencies lately, this … Keep reading…