My one financial goal for August was to go over our 2009 financial goals with my husband to reevaluate how we are doing and to change goals if necessary. I'll be doing a September goals post as soon as I have time to think about them!
I have to say that I'm pleasantly surprised at how many of our goals that have been accomplished. Especially with us being in the real estate section of the economy. I'm incredibly thankful for God's grace and proud of my husband's hard work, persistence and ingenuity. He is the kind of guy that doesn't take 'no' for an answer, isn't afraid of failing and always finds a way around roadblocks.
1. Pay off personal credit card debt. Done!!!
2. Pay off $5000 in IRS debt. Our original plan was to tackle this as soon as we bought a new car, but with the economy and after evaluating our self-employed situation, we have decided to continue with the payment plan in favor of building cash reserves and assets. Our balance is down to $4000, so we are making a little progress!
3. Pay for larger SUV in cash. Done! We bought a new to us SUV in April, and I have to say, I love not having a car payment.
4. Save up 3 month's worth of monthly bills. Done!
5. Pay cash for kid-free mini-vacation in April. Done! We were able to go to Hawaii for a week to celebrate our 10 year anniversary a little early.
6. Business goal: pay off about $6500 owed to one credit card. See below..
7. Business goal: pay off $3000 balance on other credit card. As for #6 & 7, we have also decided to put these goals on hold. Our new goal is to pay off any new charges and keep the balance the same so that we are not getting more in debt. As I mentioned above, my husband feels strongly about having a larger cash savings right now and is working hard to put all extra income there. As hard as it is for me to change goals in the middle (I tend to be a very goal oriented person), I've come to trust my husbands instincts when it comes to these things.
8. Business goal: add property taxes to rental property mortgage payments in order to keep current. I would say this is about 50% done.
So that's my update. If you made a list of financial goals, I would love to hear how you are doing. I find it so encouraging to hear how others are doing with their goals, and just knowing that we are not the only ones on this journey.
Erika
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